This market research report presents a comprehensive analysis of the key drivers, challenges, and upcoming trends that influence the global vertical take-off and landing (VTOL) UAV market. It also includes a detailed segmentation of the global VTOL unmanned aircraft vehicles (UAV) market by geography (Americas, APAC, and EMEA). The key vendors analyzed in this market study are AeroVironment, Israel Aerospace, Lockheed Martin, Northrop Grumman, and SAAB.
Technavio’s market research analysts estimate the global VTOL UAV market to grow at a CAGR of around 11% between 2016 and 2020. VTOL UAVs can take-off and land vertically almost anywhere, even at areas with constrained space. Many of the larger VTOL UAVs are currently being used by the military sector, as it can be deployed from any remote location. The Americas dominate the VTOL UAVs market across the globe. Much if this region’s growth is due to the collaboration between DARPA and the manufacturers of UAV has led to the development of many VTOL UAV designs.
The new market research report from Technavio provides a breakdown and analysis of the VTOL UAV segments by technology.
“There is a growing demand for VTOL UAVs for civil and commercial applications. The ability of these UAVs to aid in surveying, scanning, aerial photography, 3D mapping, oil and gas pipeline monitoring, wind turbine blade inspection, and real estate survey will result in market growth during the predicted period. Since VTOL UAVs have the ability to carry out various ISR and spy missions, they are increasingly being adopted by defense forces to assist the military in search and rescue operations,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research
VTOL UAVs can take off and land without a runway, which makes them suitable for operation even in urban areas. These UAVs can be launched from a roof, vehicle or even hand launched. Since police, firefighters, and other civil and commercial agencies are extensively using UAVs, the need for urban operations of VTOL UAVs also has widely increased. Moreover, the use of VTOL UAVs for military applications has largely increased because of its easy deployment from any terrain or mission areas.
The key vendors in the global VTOL UAV market are AeroVironment, Israel Aerospace, Lockheed Martin, Northrop Grumman, and SAAB. The market is highly competitive as many prominent players compete to gain maximum market shares during the forecast period. However, in the military and defense sector, only a certain number of vendors dominate the market. Therefore, it can be concluded that the vendors that have the capability to acquire major military projects will thrive in this market until the end of 2020.
A more detailed analysis is available in the Technavio report, Global VTOL UAV Market 2016-2020.
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