Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global autonomous BVLOS drone market projected to propel due to the growing usages of BVLOS drone in military and commercials applications for improved productivity, speed, and efficiency
The global autonomous BVLOS drone market expected to grow with a CAGR of over 26.74% during the forecast period. The growth of the market can be attributed to the surge in need for autonomous BVLOS drones to overcome the safety concerns for labor working around robots in shared workplaces and continuous decrease in the size of the available workforce. Additionally, the increasing applications of autonomous BVLOS drones in the agriculture field in monitoring farmlands to enable farmers to respond quickly to threats such as drought and pests will foster the growth of the market. Moreover, the rise in need for autonomous BVLOS drone for the safety of people around beyond-visual-line-of-sight and autonomous drone operation overpopulated areas is strengthening the market growth.
Moreover, the growth in the development of BVLOS drone for inspecting hard-to-reach and dangerous equipment such as wind turbines, refineries, oil rigs, ship hulls, smokestacks, buildings, and skyscrapers are anticipated to trigger the growth of the global autonomous BVLOS drone market size in the future periods. The various government initiatives such as the USA has approved testing of commercial drones to over people, night time operations, and flights beyond the VLOS. These factors will spur the growth of the autonomous BVLOS drone market share in the upcoming periods. Also, the growing adopters of autonomous BVLOS drone technology to achieving small image capturing UAVs with low endurance and carrying capacity will expand the global autonomous BVLOS drone industry in the analysis periods.
Type Overview in the Global Autonomous BVLOS drone Market
Based on type, the global autonomous BVLOS drone market classified into Fixed Wing, Rotor Type, and Hybrid. The hybrid will be the fastest-growing segment in the forecast period. Hybrid is useful in long-range, long-endurance capabilities, and intuitive operation for achieving industry-leading drone data and intelligence gathering in a single flight.
Application Overview in the Global Autonomous BVLOS drone market
Based on the application, the global autonomous BVLOS drone market segregated into commercial, government, and military. The commercial will capture maximum revenue by 2027 due to the autonomous BVLOS drone useful in proving survey and map large tracts of farms, forests, landmasses, and waterways.
Components Overview in the Global Autonomous BVLOS drone Market
Based on components, the global autonomous BVLOS drone market segregated into Camera, Sensor, communication Unit, Autopilot, Sense and Avoid, Synthetic Aperture Radar (SAR), and others. The Sense and Avoid accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to the huge demand for autonomous BVLOS drones for drone safety, particularly in congested areas such as urban or suburban delivery missions.
Mode of Communication Overview in the Global Autonomous BVLOS drone Market
Based on the mode of communication, the global autonomous BVLOS drone market categorized into Radio, Cellular, and Satellite. The cellular segment will be the fastest-growing segment by 2027, attributable to the cellular useful for real-time streaming and capable of much higher data rates than satellites, which are gaining in popularity for commercial drones.
Regional Overview in the Global Autonomous BVLOS drone Market
By geography, the global autonomous BVLOS drone Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for maximum revenue share in 2019, owing to the presence of keys players in these regions and favorable government initiatives, especially USA FDA approval to promote the usage of autonomous BVLOS drones for various industrial applications, including energy, maritime surveillance, and defense.
Global Autonomous BVLOS drone Market: Competitive Landscape
Companies such as AeroVironment, Inc., Airbus SAS, BAE Systems, Elbit Systems Ltd, Flytrex Aviation Limited, General Atomics Aeronautical Systems, Inc., Insitu, Inc., Israel Aerospace Industries Ltd., Northrop Grumman Corporation, Saab AB, and Textron Systems, are the key players in the global autonomous BVLOS drone market.