Market Overview
Vertical Take-off and Landing (VTOL) UAV Market Size is expected to reach USD 8.42 Billion by 2030, registering a CAGR of 23.6% during 2020-2030.
VTOL UAV defined as an aircraft that can take off and land and able to perform maneuvers. The demand for VTOL UAV is growing at fastest rate in emerging market owing to rise in combat operation in Korea, Iraq, and Afghanistan and are known for their cost effectivity equipment for security systems.
Presently, North America is dominating the market as it is the largest defense spender. Europe is expected to account for the second largest market share during the forecast period.For instance, in year 2018, Martin UAV LLC signed a contract with Naval Air Systems Command to developed the autonomous landing capability of V-BAT, that is known as VTOL UAV.
The key drivers for global VTOL UAV market inlcude focus on enhancing UAV propulsion system, increase in demand for commercial purposes, , and focus on enhancing situational awareness. Other key factors that drives the market growth are rising terrorist activities, and robust technological growth in aerospace sector.
Key Players
The key players in the global VTOL UAV market are Northrop Grumman Corporation (U.S.), DJI Innovations (China), Lockheed Martin Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel), Schiebel Elektronische Gerate GmbH (Austria), AeroVironment, Inc. (U.S.), Saab Group (Sweden), Textron Inc. (U.S.), The Boeing Company (U.S.), and Turkish Aerospace Industries, Inc. (Turkey).
Market Segmentation
This report provides an in-depth analysis of the global VTOL UAV market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC), Middle East, Africa and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the VTOL UAV market by construction platform, type, propulsion, and by region.
By Platform
Commercial
Military
By Type
Fixed-Wing
Multirotor
By Propulsion
Electric
Solar
Hybrid
Others
Regional Analysis
The Vertical Take-off and Landing (VTOL) UAV Market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to the presence of countries like Mexico, Canada, and the US that have high urbanization rates and hence creates more demand in this region. The presence of various major key players is another factor that drives the market demand.
North America, Europe, Asia Pacific, Middle East and Africa, Latin America
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