The Aerial Vehicles (AV) Market is anticipated to register a CAGR of more than 10%, during the forecast period (2020-2024).
Unmanned aerial vehicles (UAVs) are also known as drones. These are variously sized aircrafts that may be remotely controlled or can fly autonomously. Autonomous flight of drones is controlled by sensors, global positioning systems (GPS), and embedded systems according to Valavanis and Vachtsevanos
The key Players in the global UAV market are 3D Robotics, Autel Robotics,Delair Tech, DJI, Eachine, Ehang Inc., Guangdong Cheerson Hobby Technology,Hobbico Inc., Horizon Hobby, JIANJIAN TECHNOLOGY CO., LTD., Meijiaxin Innovative Technology Ltd, Mota Group, Others.
COR-MGMT2211: This new course in 2020 is a response to the increasing use of drone technology and 3D robotics in business and society. Drones are unmanned, multi-purpose tools. Their history can be traced back to World War I when the US army experimented with unmanned aerial torpedoes. Nowadays, drone technology belongs to the military arsenal of many nations.
Goldman Sache research announced they give 2020 n further years they forecast a$100 billion market opportunities for drones-helped by growing demand for the commercial and civil government sectors. UAVtek has been awarded Drone Innovation Award 2020. For its work providing Nano drones with unrivalled capability. This demonstrates that the UK drone industry can produce world-class unmanned systems. They have outstanding partners, including BAE Systems and General Dynamics, who are collaborating with them to develop the best possible technology for our troops. This is just the tip of the iceberg. As move in to 2021, it will be releasing a full range of purpose built UAVS for all aspects of military use.
2020, Bengaluru-headquartered BEML collaborate with IIT-Kanpur for joint indigenous development of pilotless target aircraft (PTA) and tactical unmanned aerial vehicles (UAVs). Both the organisations would synergise respective capabilities and undertake feasibility study, design and development, testing and validation of tactical UAVs and PTA, BEML said in a statement. It would also help foster innovation and technology development in defense and aerospace by engaging various industries, including MSMEs, start-ups, individual innovators, R& D institute.
On the basis of type, the market has been segmented into fixed wing and multi rotor. Based on application, the UAV market has been segmented into military, commercial, government & law enforcement, and consumer. Based on region, the UAV market has been segmented into North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. North America is expected to hold the largest unmanned aerial vehicles market share. The growing use of UAVs for border and maritime surveillance activities in countries such as the United States and Canada is driving the growth of the UAV market in North America.