Forecast: Global VTOL UAV Market to Reach $13.1 Billion by 2026

Global Industry Analysts Inc., (GIA) released its new report titled “VTOL UAV – Global Market Trajectory & Analytics”.

The Report covers 47 market players, including AeroVironment, Inc.; DJI; Israel Aerospace Industries (IAI); Lockheed Martin Corporation; Northrop Grumman Corporation; SAAB AB; Schiebel Elektronische Gerate GmbH; Textron Inc.; The Boeing Company; Turkish Aerospace Industries, Inc. (TAI) and Others working in all major geographies and key segments such as Military, Civil & Commercial, Homeland Security.

Here are some key data from the Report:

  • Global VTOL UAV Market to Reach $13.1 Billion by 2026
    Amid the COVID-19 crisis, the global market for VTOL UAV estimated at US$4.4 Billion, is projected to reach a revised size of US$13.1 Billion by 2026, growing at a CAGR of 19.6% over the analysis period. Military, one of the segments analyzed in the report, is projected to record a 21.4% CAGR and reach US$9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Civil & Commercial segment is readjusted to a revised 20.1% CAGR for the next 7-year period.
  • The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $2.3 Billion by 2026
    The VTOL UAV market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2026 trailing a CAGR of 18.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.5% and 16.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.3% CAGR.
  • Homeland Security Segment to Reach US$3.1 Billion by the year 2026
    In the global Homeland Security segment, USA, Canada, Japan, China and Europe will drive the 15.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion will reach a projected size of US$2.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.