VTOL UAV Market Worth USD 5,500 Million by 2020, according to MarketsandMarkets
The report “VTOL UAV Market by Application (Military, Civil & Commercial, Homeland Security), Type (Multicopter, Helicopter, Hybrid), Size (Large, Medium, Small, Micro), Propulsion, Payloads, Geography – Global Forecast to 2020”, has been published by MarketsandMarkets, the firm announced September 9. The global VTOL UAV Market is estimated to be valued at USD 2,235.40 Million in 2015 and is projected to reach USD 5,500 Million by 2020, at a CAGR of 19.73% from 2015 to 2020.
The market report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, Latin America, and Africa.
The report discusses about the market opportunities that exist in the VTOL UAV over the forecast period, 2015-2020. We have segmented the VTOL UAV Market based on application, by type, by size, by payloads and by region. The report identifies the market opportunities for the above VTOL UAV across the five geographic sectors namely North America (NA), Latin America(LA), European Union (EU), Asia-Pacific (APAC), and Africa. Also, we have identified the major applications of VTOL UAV as military, Homeland Security, and Civil & Commercial.
The demand for VTOL UAVs has been increasing rapidly; however, certain restrictions are still imposed by governments and civil authorities. They are used in various commercial and civil applications such as surveillance, reconnaissance, exploration, and mapping, among others. The UAV’s fly at a low level, and therefore masses could be at risk. To avoid people from this danger, in January 2010, U.K’s Civil Aviation Authority (CAA) introduced new regulations that require operators of VTOL UAV to obtain permission from the CAA before commencing a flight within a congested area or in proximity to people or property.
The global VTOL UAV market by application type is the fastest-growing countries in the Asia-Pacific region. The VTOL UAV market in the countries, such as Japan and India of the Asia-Pacific region, is projected to grow at a faster pace from 2015 to 2020. The VTOL UAV market in these countries is expected grow for military and commercial applications in the next five years.
The VTOL UAV market is diversified and competitive, however, its influence is high in the North American and European regions. The VTOL UAV market is dominated by key global players such as Northrop Grumman Corporation (U.S.), DJI (China), Lockheed Martin Corporation (U.S.), Israel Aerospace Industries Limited (Israel), Schiebel Corporation (Austria), AeroVironment, Inc. (U.S.), Turkish Aerospace Industries, Inc. (Turkey), Saab AB (Sweden), The Boeing Company (U.S.), Textron, Inc. (U.S.), Parrot SA (France), 3D Robotics, Inc. (U.S.), and Xaircraft Technology Co. Ltd (China).
The report is available here: http://www.marketsandmarkets.com/pdfdownload.asp?id=192738850