The global unmanned helicopter market size is predicted to hit USD 15.12 billion by 2029 and exhibit a CAGR of 15.09% during the forecast period. The mounting demand for helicopter drones for commercial applications is anticipated to amplify the market growth. Fortune Business Insights has presented this information in its report titled, “Unmanned Helicopter Market, 2022-2029”. The market size stood at USD 5.19 billion in 2021 and USD 5.67 billion in 2022.
Additionally, the development of technologically advanced pocket-sized unmanned helicopters is estimated to be a key trend bolstering the market growth in the forthcoming years.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
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Fortune Business Insights™ lists out all the Unmanned Helicopter Marketcompanies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- VELOS ROTORS LLC (U.S.)
- LAFLAMME AERO INC. (Canada)
- STEADICOPTER (Israel)
- CybAero AB (Sweden)
- Alpha Unmanned Systems (Spain)
- Schiebel Corporation (Austria)
- HELIPSE (France)
- Aeroscout GmbH (Switzerland)
- HighEye (Netherlands)
- Anduril Industries (U.S.)
- Aeryon/FLIR (U.S.)
- Quantum Systems (Germany)
- Northrop Grumman Corporation (U.S.)
- UMS Skeldar (Switzerland)
On the basis of type, the market is bifurcated into medium (21-55 lbs) and small (0-20 lbs). On the basis of application, the market is trifurcated into industrial, government agency, and military. Geographically, the market is classified into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
- It includes a detailed description and analysis of various segments of the market.
- It highlights the latest key industry developments.
- It includes a detailed analysis of the coronavirus pandemic.
- It assimilates the crucial drivers and restraints of the market’s expansion.
- It highlights the market’s growth analyzed and forecasted across various geographies.
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Drivers & Restraints-
Soaring Demand for Helicopter Drone for Commercial Applications to Strengthen Market Growth
The collective interest in unmanned helicopters for remote sensing tasks has increased in recent years. These helicopters provide precise flight control and operations in windy or cluttered environments. They can fly at low speeds which serves them as an ultimate advantage. Moreover, the growing demand for unmanned technologies due to evolving warfare techniques and battlefield management has augmented the demand for advanced and modern equipment. Several nations around the globe have ramped up their expenditure on procuring the most advanced defense equipment, including unmanned helicopters. These factors are likely to foster growth in the global market.
However, strict regulations and high products costs may impede the market growth during the forecast period.
Favorable Government Regulations to Fuel Growth in North America
North America is anticipated to acquire a huge unmanned helicopter market share. The increasing modernization programs for existing defense structures and rising technological advancements are anticipated to boost the region’s market growth. Favorable government regulations and mounting demand for UAV technology and unmanned helicopter services are expected to further propel the market’s expansion.
Asia Pacific is expected to gain remarkable growth in the global market. The growing technological developments in the defense sector across India, China, and others are anticipated to favor the market expansion in Asia Pacific.
Europe is anticipated to exhibit substantial growth in the forthcoming years. The growing availability of ingenious technology-based leasing facilities is predicted to benefit the market’s expansion. The rising investments by major players in adopting and developing machine learning and artificial intelligence to improve unmanned flight operations are estimated to boost growth in Asia Pacific.
Key Players Adopt Ingenious Strategies to Escalate their Global Positions
The major players operating in the market emphasize upgrading current product portfolios by incorporating advanced technologies to enhance their offerings. The major market players adopt ingenious strategies, including contracts, acquisitions, mergers, collaborations, and others to amplify their growth prospects. For instance, General Dynamics Mission Systems (Canada) unveiled its new Remotely Piloted Aircraft System (RPAS) Centre of Excellence in Sherbrooke in August 2021.
Key Industry Development-
- February 2021: SPH Engineering and Velos Rotors signed a collaborative agreement to help the world’s first single-rotor helicopter take off for surveying.
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