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Increasing applications of unmanned aerial vehicles (UAVs) in the commercial sectors are expected to drive innovation in unmanned commercial aerial vehicles manufacturing, thus driving the market during the forecast period.

The global unmanned commercial aerial vehicles market is expected to grow from $13.09 billion in 2022 to $14.02 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The global unmanned commercial aerial vehicle market size is expected to grow to $17.68 billion in 2027 at a CAGR of 6.0%.

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Global Unmanned Commercial Aerial Vehicles Market Segments Include:

• By Segment: Fixed-Wing UAVs, Multi-Rotor Aerial Vehicles, Rotary Blade Type UAV
• By End-User: Agriculture, Energy, Public utilities, Construction, Media and Entertainment, Government, Others
• By Mode Of Operation: Remotely Piloted, Optionally Piloted, Fully Autonomous
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global unmanned commercial aerial vehicles market in 2021.

Major Market Players in the unmanned commercial aerial vehicles market include AeroVironment Inc., BAE Systems, DJI, Elbit Systems, General Atomics, Israel Aerospace Industries, Lockheed Martin Corporation.

Unmanned commercial aerial vehicle manufacturing companies are implementing improved batteries in their UAVs, which could fly for longer and farther on just a single charge. Improvements in battery technology can be seen by the replacement of lithium-ion batteries with lithium metal batteries, which have twice the capacity and half the size when compared with the former ones. In April 2021, KULR Technology Group Inc., a US-based developer of advanced thermal management technologies, launched a new line of high-capacity lithium battery packs for the market of commercial drones. The energy-efficient battery pack platform from KULR features a lighter, intrinsically safe battery with cutting-edge chemistry and thermal management technology. This benefits drone manufacturers because it allows for longer and farther flights from a single charge. Based on the company’s 30-plus-year history of specializing in carbon-based fiber materials used for thermal management and battery safety, KULR’s technology was developed.

The Unmanned Commercial Aerial Vehicle Global Market Report 2023  provides a unmanned commercial aerial vehicles market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The unmanned commercial aerial vehicles market forecast analyzes unmanned commercial aerial vehicles market size, unmanned commercial aerial vehicles market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The unmanned commercial aerial vehicles refer to miniature pilotless vehicles, controlled to carry small payloads, perform delivery and minor services, and conduct commercial inspections and operations such as photography and videography.

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