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(IT-NEWSWIRE.COM, January 09, 2020 ) The Fixed-Wing VTOL UAV Market is estimated at USD 498 million in 2019 and is projected to reach USD 3,583 million by 2030, at a CAGR of 19.7% from 2019 to 2030.
This report provides a detailed analysis of the fixed-wing VTOL UAV market from 2019 to 2030. It discusses the industry and technological trends prevailing in the market and examines factors that are expected to drive or challenge the growth of the fixed-wing VTOL UAV market in the near future. The fixed-wing VTOL UAV market is projected to grow from USD 498 million in 2019 to USD 3,583 million by 2030, at a CAGR of 19.7% during the forecast period. The increasing adoption of fixed-wing VTOL UAVs in commercial and military verticals is projected to drive the growth of the fixed-wing VTOL UAV market.
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The fixed-wing VTOL UAV market has been segmented on the basis of vertical, mode of operation, range, endurance, propulsion, MTOW, and region. Based on vertical, the market has been classified into military, government & law enforcement, and commercial. The military segment is expected to lead the market during the forecast period, which can be attributed to the increasing adoption of these UAVs in the military vertical.
Based on range, the fixed-wing VTOL UAV market has been segmented in visual line of sight (VLOS), extended visual line of sight (EVLOS), and beyond visual line of sight (BVLOS). The beyond visual line of sight (BVLOS) segment is projected to grow at the highest CAGR from 2019 to 2030. This growth can be attributed to the increasing demand for high range fixed-wing VTOL UAVs from the military and commercial verticals.
Based on MTOW, the fixed-wing VTOL UAV market has been segmented in 100 kilograms. The >100 kilograms segment is projected to grow at the highest CAGR from 2019 to 2030. This growth can be attributed to the increasing demand for high payload carrying fixed-wing VTOL UAVs and technological advancements in the near future.
Based on endurance, the fixed-wing VTOL UAV market has been segmented in 10 hours. The >10 hours segment is projected to grow at the highest CAGR from 2019 to 2030. This growth can be attributed to the increasing demand for high-endurance fixed-wing VTOL UAVs in the military and commercial verticals.
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The fixed-wing VTOL UAV market in the North America region is expected to grow at the highest CAGR during the forecast period. This growth is primarily driven by the increasing demand for fixed-wing VTOL UAVs from the US, for applications such as firefighting & disaster management, maritime security, agriculture, product delivery, and inspection & monitoring, among others.
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