According to the latest market research report on Unmanned Helicopter Market from Fortune Business Insights™, The global unmanned helicopter market size is expected to hit USD 11,382.8 million by 2027 while exhibiting a CAGR of 12.52% between 2020 and 2027. This is attributable to the increasing demand for this helicopter in commercial applications and the growing adoption of advanced technology such as internet of things (IoT) in the development of the product across the globe. This information is published by Fortune Business Insights in its latest report, titled, “Unmanned Helicopter Market Size, Share & COVID-19 Impact Analysis, By Product (Small (0-20 lbs), and Medium (21-55 lbs)), By Application (Military [ISR, Combat, Search & Rescue, Transportation, Naval Support, and Border Support], Government Agency [Planning, Inspection, Surveying, Public Safety, and Search & Rescue], Industrial [Planning, Inspection, Surveying]), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 5,092.3 million in 2019.
Defense Budget Cuts amid COVID-19 to Restrain Market Growth
The huge economic loss owing to the novel coronavirus that has severely strained the healthcare service globally has affected the overall growth of the regions. Owing to this, several countries are contemplating a reduction in their defense budgets to neutralize the loss to some extent. Additionally, remarkable reduction in investments and less business opportunities is expected to hamper the growth prospects in the near future.
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List of the Leading Companies Profiled in the Global Unmanned Helicopter Market are:
- VELOS ROTORS LLC (U.S.)
- AeroVironment Inc. (U.S.)
- Flint Hills Solutions (U.S.)
- Laflamme Aero Inc. (Canada)
- Steadicopter (Israel)
- CybAero AB (Sweden)
- Alpha Unmanned Systems (Spain)
- Schiebel Corporation(Austria)
- HELIPSE (France)
- Aeroscout GmbH (Switzerland)
- HighEye (The Netherlands)
- Anduril (U.S.)
- Aeryon/FLIR (U.S.)
- Quantum (Germany)
- Northrop Grumman(U.S.)
- UMS Skeldar (Switzerland)
An unmanned helicopter is a rotary-wing drone specially designed for security and surveillance, search and rescue, and other activities. In addition to this, they find increasing applications in transportation and logistics operations across the globe. They are developed using advanced features that enable them to establish communication even at higher altitudes and rough climatic conditions.
What does the Report Include?
The market report includes a detailed assessment of various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Increasing Adoption of Unmanned Helicopter for Commercial Applications to Augment Growth
The growing technological advancement is propelling the manufacturers to develop sophisticated UAV products by adopting the internet of things (IoT) and artificial intelligence (AI). These advanced unmanned products are being widely adopted for industrial applications such as infrastructure inspection, forest monitoring, and photogrammetric survey. For instance, in April 2020, UAVOS Inc successfully commenced an automated flight test with its UVH-170 cargo delivery unmanned helicopter that involved a vendor and destination and back. Such initiatives by the companies are further expected to boost the growth of the global unmanned helicopter market in the forthcoming years.
SEGMENTATION
Small Segment Held 40.5% Market Share in 2019
The small segment held a market share of about 40.5% in 2019 and is expected to gain momentum owing to the growing air transport applications such as logistics, cargo, and others that drive the demand for advanced UAV products across the globe.
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REGIONAL INSIGHTS
Presence of Established Air Transport Solution Companies in North America to Favor Growth
Among the regions, the market in North America is expected to remain dominant and hold the highest position in the global unmanned helicopter market in the forthcoming years. This dominance is attributable to the presence of large companies such as Uber, DHL, UPS, and Zipline that are focusing on providing efficient air transportation and logistics solutions in the region. The region stood at USD 1,737.7 million in 2019.
The market in Europe is expected to showcase significant growth owing to the increasing demand for these helicopters for defense services such as naval, border patrolling, and security in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Major Companies Focus on Product Innovations to Boost Their Sales Revenue
The global unmanned helicopter market is experiencing fierce competition as the major companies are engaged in activities such as product innovations to gain a competitive edge over their rivals. The high investments in R&D activities to develop innovative unmanned helicopters by key players are further expected to bode well for the growth of the market.
Industrial Development:
April 2020 – AeroVironment, Inc introduced QUANTIX RECON, a complete automated hybrid Vertical Take-off and Landing (VTOL) aircraft system specially designed for defense applications. The high-resolution imagery and total automated reconnaissance solutions are expected to amplify its position in the global marketplace.
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