29 March 2021
Visiongain has published a new report on VTOL UAV Market Report to 2031: Forecasts by Type (Helicopter, Multicopter, and Hybrid), by Size (Large, Medium, Small, and Micro), by Payloads (ISR, Cameras, Telemetry, Sensors, and Autopilot), and by Application (Military, Homeland Security, and Civil & Commercial). PLUS, Profiles of Leading VTOL UAV Companies and Regional and Leading National Market Analysis. PLUS, COVID-19 Recovery Scenarios.
Global VTOL UAV market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on VTOL UAV Market
With the sudden rise in the trend for online shopping including both essential and non-essential products in the wake of coronavirus pandemic, the demand for deliveries untouched by delivery staff has grown at an exponential rate. This is expected to directly propel the growth of global VTOL UAV Market over the forecast period.
Increasing VTOL UAV Applications
VTOL (vertical take-off and landing) UAVs are finding huge demand from defense forces, owing to the runway-less take-off and landing feature associated with such aircraft. Moreover, the growing usage of VTOL UAVs in numerous applications, for instance, aerial remote sensing, product delivery, surveying & mapping, monitoring, and agriculture, is also bolstering the growth of the VTOL UAV market.
Improving Technical Efficiency and Technological Advancements
Unmanned aerial vehicles (UAVs) play a key role in current global delivery and logistics scenarios. They are extensively used for government, commercial applications, and military around the world to achieve a number of requirements such as research and development, investigation, logistics, and combat. Many armed forces and government authorities have become excessively dependent on the Unmanned aerial vehicles for the acquisition of mission-related inputs, along with protecting soldiers in the war zones.
The development projects are intended on hybrid propulsion technologies and innovative aerodynamics. Several universities and companies are working to upgrade the fuel-cell technology, aircraft systems, and other technologies
Increasing Demand of VTOL UAVs for Several Commercial Applications
The commercial sector is projected to provide lucrative opportunities for VTOL UAVs over the years. The commercial applications segment is anticipated to observe a surge in the usage of VTOL UAVs across several applications, after the release of rules and regulations pertaining to the usage in the civil airspace by the Federal Aviation Administration (FAA) will release. Currently, many R&D programs are being undertaken by several business and educational organizations for deploying VTOL UAVs operations in industrial applications.
VTOL UAV for Product Delivery & Logistics
A transport UAV, in other words, cargo UAV is an unmanned aerial vehicle that carries a shipment, placed inside the vehicle or with a payload delivery system. The shipment can be equipped with a small parachute to avoid the damage of the product when released from the air. VTOL UAVs can operate in confined areas and fly long distances. Owing to these factors, VTOL UAVs are being increasingly used for product deliveries and logistics.
The VTOL UAV market is varied and competitive in nature, however, its impact is high in the North American and European regions. Some of the companies profiled in the report include Northrop Grumman Corporation, Dji Innovations, Lockheed Martin Corporation, Israel Aerospace Industries Ltd., Schiebel Elektronische Gerate GmbH, Aerovironment, Inc., SAAB AB, Textron Inc., The Boeing Company, and Turkish Aerospace Industries, Inc.
• In April 2020, Orbital UAV signed contract with Northrop Grumman to develop hybrid UAV propulsion system
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