Unmanned Aerial Vehicles (UAV) or Drones are machines capable of flight without a pilot and are capable of automatic flight or remote-controlled flight. These UAVs are designed for multiple uses and are also capable of completing missions with various payloads. According to publisher estimates, there are at least 1200 companies in the UAV business in China.
The Global UAV market and the potential in the market has attracted the attention and participation of various international military industrialists and development teams from across the world. The Global UAV market size in 2017 was at USD 7.9 billion, and as UAVs continue to undergo technological development and diversification along with developments in consumer drones, the Global UAV market is projected to reach a size of USD 30 billion by the end of 2024.
The national bureau of statistics indicate that the Chinese consumer drone market was developing at a fast pace throughout 2017. A total of 2.9 million drones were manufactured in 2017, a year-on-year growth of 67%. Growth in the drone market was much higher than that of some of the hottest industries in the country, such as the EV, railcar, lithium battery and solar battery industries. The Chinese UAV market reached a total of CNY 13.6 billion by the end of 2017, with the consumer drone market reaching a total of CNY 7.9 billion, while the military UAV market reached a total of CNY 5.7 billion.
The Chinese UAV industry has formed an ecosystem with research, manufacturing, sales and services. The industry is expected to reach a total size of CNY 107.3 billion by the end of 2024, with the military UAV and consumer drone market expected to reach sizes of CNY 17.3 billion and CNY 90 billion respectively.
Spanning over 141 pages “Market research report on the Global and Chinese markets for drones 2019-2024” report covers Global UAV industry developments, Chinese UAV developments, Chinese military UAV market demand analysis, Chinese consumer drone market demand projections, Global UAV exports and competitive analysis, Global UAV companies, Global and Chinese UAV investment barriers and risks, 2019-2024 Global and Chinese UAV development trends and market projections.
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