Vertical Take-Off And Landing (VTOL) UAV Market 2024 - Market Size, Landscape, Industry Analysis, Business Outlook, Current And Forecast To 2033

Global vertical take-off and landing (vtol) uav market size is expected to reach 14.76 Bn by 2028 at a rate of 17.0%, segmented as by type, helicopter, multicopter, hybrid

Aug 21, 2024 - 10:02

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Overview and Scope
A vertical take-off and landing (VTOL) unmanned aerial vehicle (UAV) refers to a type of aircraft that can take off, hover, and land vertically without the need for a runway. They are developed to save time and money, improve operational efficiencies, and streamline operational procedures. They are recommended for inspection since they can hover steadily and make fluid-airborne transitions.

Sizing and Forecast
The vertical take-off and landing (VTOL) UAV market size has grown rapidly in recent years. It will grow from $6.71 billion in 2023 to $7.87 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to environmental monitoring, disaster response and relief, military demand, and global security concerns.

The vertical take-off and landing (VTOL) UAV market size is expected to see rapid growth in the next few years. It will grow to 14.76 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to energy infrastructure inspection, autonomy and artificial intelligence, electric propulsion, and commercialization of new applications. Major trends in the forecast period include rapid technological advancements, electric propulsion dominance, integration of artificial intelligence, and sustainability and green initiatives.

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Segmentation & Regional Insights
The vertical take-off and landing (VTOL) UAV market covered in this report is segmented –

1) By Type: Helicopter, Multicopter, Hybrid
2) By Size: Large, Medium, Small, Micro
3) By Payloads: Intelligence Surveillance Reconnaissance (ISR), Cameras, Telemetry, Sensors, Autopilot
4) By Application: Military, Home And Security, Civil And Commercial

North America was the largest region in the vertical take-off and landing (VTOL) UAV market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vertical take-off and landing (VTOL) UAV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing military and civil applications are expected to propel the growth of the vertical take-off and landing (VTOL) UAV market going forward. Military and civil applications refer to the various applications in which technologies, products, or services are utilized, either by military organizations or civilian entities such as businesses, governments, or individuals. Military and civil applications use VTOL UAVs to inspect structures such as bridges, power lines, and pipelines. Vertical take-off and landing (VTOL) unmanned aerial vehicles (UAVs) are utilized in a wide range of military and civil applications for intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) purposes due to their versatility, maneuverability, and operational flexibility. For instance, in 2021, according to the Stockholm International Peace Research Institute, a US-based international institute, arms sales increased by 4.2%compared with 2020, reaching $123 billion in 2022. Furthermore, in April 2023, according to the Peter G. Peterson Foundation, a US-based nonpartisan organization, between 2021 and 2022, U.S. defense spending increased by $71 billion. Therefore, the growing military and civil applications are driving the growth of the vertical take-off and landing (VTOL) UAV market.

Key Industry Players
Major companies operating in the vertical take-off and landing (VTOL) UAV market are Boeing Co., Airbus SE, Honeywell International Inc., Thales Group, Bell Textron Inc., Textron Systems, SZ DJI Technology Co. Ltd. , Yuneec International Inc., AeroVironment Inc., Joby Aviation Inc., Lilium GmbH, Volocopter GmbH, Aurora Flight Sciences, Vertical Aerospace, Quantum Systems GmbH, Wingcopter GmbH, Elroy Air Inc., SkyDrive Inc., Terrafugia Inc., 3D Robotics Inc., Urban Aeronautics, Kitty Hawk Corporation, ALTI UAS, EHang Holding, Zero Zero Robotics Inc.

The vertical take-off and landing (vtol) uav market report table of contents includes:

1. Executive Summary

2. Vertical Take-Off And Landing (VTOL) UAV Market Characteristics

3. Vertical Take-Off And Landing (VTOL) UAV Market Trends And Strategies

4. Vertical Take-Off And Landing (VTOL) UAV Market - Macro Economic Scenario

5. Global Vertical Take-Off And Landing (VTOL) UAV Market Size and Growth

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32. Global Vertical Take-Off And Landing (VTOL) UAV Market Competitive Benchmarking

33. Global Vertical Take-Off And Landing (VTOL) UAV Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Vertical Take-Off And Landing (VTOL) UAV Market

35. Vertical Take-Off And Landing (VTOL) UAV Market Future Outlook and Potential Analysis

36. Appendix