Pune, India -- (SBWIRE) -- 04/29/2019 -- Our latest research report entitled Unmanned Aircraft Systems Market (by application (military, civil & commercial and public safety)) provides complete and deep insights into the market dynamics and growth of Unmanned Aircraft Systems. Latest information on market risks, industry chain structure Unmanned Aircraft Systems cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Unmanned Aircraft Systems growth factors. According to the report, the global unmanned aircraft system market will grow from USD 10.48 billion in 2016 to USD 34.06 billion in 2023, with a CAGR of 18.34%.

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Unmanned Aircraft Systems Market: Insights

Increasing demand for drones for a commercial application is the primary factor driving the growth in the global market for unmanned aircraft systems. Moreover, highly technology driven and new product launches by key manufacturers such as DJI, 3D Robotics, Parrot, and new promising manufactures turning up to every week, drone technology is going through rapid transformation in coming years. Moreover, and initiatives reflect technology development investments in unmanned aircraft systems market the growth in the unmanned aircraft systems market over the forecast period. Use of unmanned aircraft system is evolving beyond their core military origin to become attractive and powerful business tools. Unmanned aircraft systems especially drones became alternatives with safer, cheaper and often more capable option as compared to manned military aircraft. Even today, the defense sector dominates the global unmanned aircraft systems market and the trend is expected to continue over the forecast period.

However, increasing usage of unmanned aircraft systems in the non-defense sector will fuel upcoming technology developments and product innovations. Increasing demand for commercial unmanned aircraft systems in several applications and its increasing deployment for law enforcement and surveillance is fueling the market growth opportunities. Furthermore, in the past couple of years, demands from hobbyist drones have become a familiar sight, but there is plenty of room for growth. The regulatory bodies governing sky transport are loosening restrictions and opening up ways to encourage commercial use of unmanned aircraft systems for agriculture, entertainment, police protection, disaster management, and numerous other areas.

Unmanned Aircraft Systems Market: Drivers and Restraints

The unmanned aircraft systems market is highly technology driven and new product launches by key manufacturers such as DJI, 3D Robotics, Parrot, and new promising manufactures turning up to every week, drone technology is going through rapid transformation in coming years. Device technology improvements such as better cameras, better-controlling devices, more efficient and lighter rotors and frames are constantly making drones both simpler and easier for users and better as compared to previous ones.

Furthermore, the development of batteries with better endurance will eventually cause a huge leap forward in unmanned aircraft systems technology. On the software side, the big players in the IT industry are working on creating software's and applications that can make drones much simple and safer to use. For instance, flights powered by Snapdragon, Qualcomm Technologies provide drones with the intelligence to observe objects within their neighborhood to offer much safer navigation. Such technological developments in long terms can make future for unmanned aircraft systems more nimble, versatile and safe.

Operating in a highly regulated market, unmanned aircraft systems market is highly attractive in terms of seeking investments, especially in seed stage for start-ups and research & development activities. The investment in unmanned aircraft systems market space is accelerating; witnessed by players such as DroneDeploy, AirPhrame, Skyspecs, and many others received huge funding from venture capitalist and big fishes in the similar business lines. For Instance, in mid-2015, Qualcomm Robotics Accelerator has selected 10 robotics companies for four-month mentorship-driven start-up program that was further resulted in over USD 1 Millions of funding for participating companies. Such initiatives reflect technology development investments in unmanned aircraft systems market, thus fueling the growth opportunities for the market.

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Unmanned Aircraft Systems Market: Regional Analysis

On the other hand, risks overplay benefits of unmanned aircraft systems is the primary restraining factor hampering the growth in the market over the forecast period. The local and international regulatory bodies and government agencies are focusing to ensure safe air travel. These organizations are ensuring proper aerial traffic management by retaining authority to keep drones away at a safer distance from manned aircraft. Actions from them sometimes negatively affect emerging drone industry. Newly growing drone industry requires flexibility in terms of deploying their applications for the benefit of various industries, especially agriculture. Lack of use case analysis and risk management of unmanned aircraft systems limits its commercial adoption to the fullest.

The government needs to pass legislation that gives state and local government's power to make decisions about use cases outweigh the risks, in consultation with local users, businesses and citizens. The unmanned aircraft systems are considered as an attractive solution when there is a need to work in remote and dangerous environments. However, organizations still prefer manned aerial systems to handle mission-critical tasks. Furthermore, in many applications, drones look particularly promising, but there are several alternative solutions such as location sensors and satellite imaging systems that can perform similar functions that too without hampering much of existing technology budget.

Unmanned Aircraft Systems Market: Competitive Landscape

The report provides profiles of the companies in the global unmanned aircraft system market such as Lockheed Martin, Northrop Grumman Corporation, 3D Robotics, AeroVironment, Boeing, Yamaha Motor Company, Israel Aerospace Industries, DJI, Aeryon Labs, and Leptron Unmanned Aircraft Systems.

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Reasons to Buy this Report:

Comprehensive analysis of global as well as regional markets of the Unmanned Aircraft Systems.

Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2023.

Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.

Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.