Global UAV Market Overview
Global UAV Market growth is sustained by security concerns, predominantly by surveillance and combat operations and the outbreak of COVID-19 has highlighted the importance of UAVs in the world and would act in favour of the UAV industry in the coming year as the usage of UAVs has increased globally. However, sales figure has witnessed a decline due to halt in construction projects, suspension of economic activities and lockdown across the nations. Further, government initiatives and the regulatory changes by countries that promote the usage and manufacturing of UAVs would give a jump to the growth of the UAV market globally during the forecast period. However, the ongoing global pandemic COVID-19 hampered the overall economic growth of Saudi Arabia, thus, restraining the growth of the Global UAV market as well.
According to 6Wresearch, Global UAV Market size is projected to grow at CAGR of 10.6% during 2020-2026. Rapid industrialization has led to increasing demand for a continuous and reliable source of electricity, which is expected to drive the UAV market in the coming years. Also, an increasing number of power outages and power failures, majorly in developing countries creates a huge demand for power backup devices, leading to a surge in demand for the UAV market. However, the outburst of coronavirus is expected to adversely impact the global UAV market in 2020 as the governments of various countries have imposed a nationwide lockdown resulting in the closure of all construction operations which would impact the demand and supply of UAV systems. However, post COVID-19 the UAV market is expected to recover as the economies would resume normalcy after a protracted period of nationwide lockdown.
Key Highlights of the Report
- Global UAV market Overview
- Global UAV market Outlook
- Global UAV market Forecast
- Market Drivers and Restraints
- Global UAV Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Player’s Revenue Shares
- Market Competitive Benchmarking
- Global UAV Market Share, By Company
- Company Profiles
- Key Strategic Recommendations
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