VTOL UAV Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Platform (Commercial and Military), Type (Fixed-Wing and Multi-rotor), Propulsion System (Electric, Solar, Hybrid, and Others) and Region– Forecast till 2023
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The global VTOL (vertical take-off and landing) UAV (unmanned aerial vehicle) market is predicted to grow at a 15% CAGR over the forecast period (2018-2023), reveals the Market Research Future (MRFR) report. VTOL aircraft comprises fixed-wing aircraft which can hover, take off as well as land vertically. Although it has its roots in various military applications but has also turned into an attractive choice in both civil and private use, especially for utilization in possible flying cars or air taxis which may make usage of helipads. It is capable of fulfilling numerous roles such as ISTAR (intelligence surveillance, target acquisition, and reconnaissance), ISR (intelligence, surveillance, and reconnaissance), and SIGINT (signals intelligence)
Various factors are driving the growth of the VTOL UAV market. These factors, in accordance with the Market Research Future (MRFR) report, include rapid technological growth in the aerospace sector, rising terrorist activities, focus on enhancing situational awareness, increasing demand of VTOL UAV for commercial purposes, and high suitability in the civil sector. Additional factors pushing the market growth include its ability to aid scanning, surveying, 3D mapping, aerial photography, real estate survey, inspection of wind turbine blade, oil and gas pipeline monitoring, and use in various civil and commercial applications such as mapping, exploration, reconnaissance, surveillance among others.
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On the contrary, a limited set of applications along with dedicated payloads, less velocities & altitude, and strict airspace regulations are factors that may impede the VTOL UAV market growth over the forecast period.
Key Players
Leading players profiled in the VTOL UAV market include Turkish Aerospace Industries, Inc. (Turkey), The Boeing Company (US), Textron Inc. (US), Saab Group (Sweden), AeroVironment, Inc. (US), Schiebel Elektronische Gerate GmbH (Austria), Israel Aerospace Industries Ltd. (Israel), Lockheed Martin Corporation (US), DJI Innovations (China), and Northrop Grumman Corporation (US). To create a foothold, the key market players are adopting numerous strategies such as funding, strategic expansion, investment, joint ventures, collaboration, strategic partnership, product launch, and mergers & acquisitions.
June 2019: Uber Elevate has recently announced the addition of its sixth company, Jaunt Air Mobility to its aircraft network OEM partners.
Market Segmentation
The Market Research Future report offers a wide segmental analysis of the VTOL UAV market based on platform, type, and propulsion.
Based on platform, the VTOL UAV market is segmented into commercial and military. Of these, the military segment will have the largest share in the market over the forecast period. The VTOL UAV systems have been specially made to perform mission’s task in the military including battlefield management, force protection, port, and coastal protection, search and rescue, target acquisition and reconnaissance, and surveillance. Moreover, they can operate day or night, even in harsh weather conditions. Thus, owing to the growing concern over security and protection together with the rising expenditure in the military with regards to security is predicted to propel the need for UAV in the military.
Based on type, the VTOL UAV market is segmented into fixed-wing and multi-rotor. Of these, the multi-rotor segment will dominate the market over the forecast period. Multi-rotor is one of the most popular drones among UAVs. It is the perfect choice for surveillance, filmmaking, and aerial photography and mostly used by hobbyists and professionals owing to its small size coupled with ready to fly capability.
Based on propulsion system, the VTOL UAV market is segmented into hybrid, solar, electric, and others.
Regional Analysis
Based on the region, the VTOL UAV market report covers growth opportunities and the latest trends across Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Of these, North America will spearhead the market over the forecast period. This is owing to the burgeoning demand for VTOL drones from the defense and military sector and technological advancements in VTOL UAV.
The VTOL UAV market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to the growing demand for VTOL UAV from commercial and military applications.
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List of Tables
Table 1 Global Vertical Take-off and Landing Uav Market: by Region, 2018-2023
Table 2 North America Vertical Take-off and Landing Uav Market: by Country, 2018-2023
Table 3 Europe Vertical Take-off and Landing Uav Market: by Country, 2018-2023
Table 4 Asia Pacific Vertical Take-off and Landing Uav Market: by Country, 2018-2023
Table 5 Row Vertical Take-off and Landing Uav Market: by Country, 2018-2023
Table 6 Global Vertical Take-off and Landing Uav Market by Platform by Regions, 2018-2023
Table 7 North America Vertical Take-off and Landing Uav Market by Platform: by Country, 2018-2023
Table 8 Europe Vertical Take-off and Landing Uav Market by Platform: by Country, 2018-2023
Table 9 Asia Pacific Vertical Take-off and Landing Uav Market by Platform: by Country, 2018-2023
Table 10 Row Vertical Take-off and Landing Uav Market by Platform: by Country, 2018-2023
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List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Vertical Take-off and Landing Uav Marketshare, by Platform, 2016 (%)
Figure 9 Global Vertical Take-off and Landing Uav Market, by Platform, 2015-2023 (Usd Million)
Figure 10 Global Vertical Take-off and Landing Uav Marketshare, by Type, 2016 (%)
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