VTOL UAV Market – Worldwide Industry Outlook and Future Projections 2022
VTOL UAVs (vertical take-off and landing unmanned aircraft) are featured aircrafts that can take off, hover & land vertically. These aircrafts are broadly classified into various types such as octo copter, quad copter, aerial robots and others. A new report “Global VTOL UAV Market Research Report- Industry Analysis, Size, Share, Growth, Trends And Forecast” offered by DecisionDatabases.com gives an analytical study of the market, its value chain, latest trends, forecasts, innovation, drivers, and restraints. The historical study from 2015 helps in a better understanding of the market. The report also details about the VTOL UAV market players who hold a dominating position in the global business scenario.
These unmanned aircraft ease plane operations and are best-fit for urban areas due to its frequent take-off without a need for a runway. The US Navy is planning to bring technological advancement in VTOL unmanned aircraft with the incorporation of these aircraft with navy fleets. In most of the applications, unmanned aircraft can be set up at a short notice, from any location, and as when needed. Growing demand from commercial and civil aircraft markets, rising terrorist activity, robust technological growth and rising global popularity in defense organizations due to its compatible & flexible features compared to conventional aircraft are some of the major drivers, which are expected to boost market demand over the coming years.
Over the past few years, the rising adoption of these aircraft is majorly dependent on their ability to perform multitasking operations such as surveying, aerial photography, scanning, 3D mapping, real estate survey, oil and gas pipeline monitoring and wind turbine
blade inspection effectively. These aircraft also assist the military in rescue & search operations and have the capability to carry out numerous spy and ISR missions, which in turn will further fuel the market demand in the near future. However, lack of trained & skilled pilot, strong airspace safety amendments for privacy and nuisance issues and restricted applications due to payloads are major challenges, which can have a negative impact on the growth in the forthcoming years.
The global VTOL UAV market has been segmented based on types into helicopter, multicopter, and hybrid. The VTOL UAV market has been further segmented based on applications into military, homeland security, and civil & commercial. Furthermore, the market has been segmented based on sizes and payloads.
Asia Pacific is a fastest growing market and is expected to grow at the highest CAGR over the coming years on account of growing commercial & military applications in the region. North America is a major market and is projected to continue its dominance during the forecast period due to growing demand from defense & military sectors and rapid technological innovations such as collaboration between major manufacturers & DARPA for the development of advanced VTOL UAV in the region.
The key industry players include Northrop Grumman Corporation, DJI, Lockheed Martin Corporation and Israel Aerospace Industries Limited. Major strategic developments are taking place in the field of VTOL UAV, which exhibits high-growth potential in the near future. The global market is highly competitive with the presence of a large number of prominent players, however, in the defense and military sector, only a certain number of manufacturers dominate the market. Therefore, it can be concluded that the manufacturers that have the ability to acquire key military projects will prosper in this market during the forecast period.
In May 2016, Textron System has demonstrated VTOL Aerosonde by using the hybrid quadcopter technology.
In May 2016, Arcturus has deployed its T-20 VTOL UAS with the Mexican Navy for unspecified operations in Mexico.
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