;slkjdf
COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.
The Global UAV Parachute Recovery Systems Market was valued at USD 96.73 million in 2019 and is predicted to grow at a CAGR of 6.8%, to a worth of USD 175 Mn in 2028. UAV-based technologies are witnessing significant growth not only within the military but in other commercial sectors like retail, delivery and transport, construction, and agriculture, among others. For example, in January 2019, the e-commerce giant Amazon unveiled its new drone as a section of its ‘Prime Air Programme’ initiative. This drone is meant with an aim to scale the company’s delivery network efficiently. However, for technologies like drones to become valuable and integrated contributors to any industry vertical, a big amount of your time and investment is required in R&D.
The technology is at its nascent stage and price around USD 2,000–USD 3,000 (consumer and commercial); thus, it demands cautiousness to avoid untimely crashes and malfunctions during operation. UAV parachute recovery systems ensure smooth functioning, especially during the landing process.
Key Factors Impacting the Growth of UAV Parachute Recovery Systems Market:
The UAV Parachute Recovery Systems market segmentation is based on Application, UAV, and Region.
Application Outlook:
Drones have effectively disrupted operating models and businesses in key sectors like urban development, traffic management, forest and wildlife, and healthcare, among others.
The expanding applications of drones in commercial areas have also broadened the associated concerns, which include monetary risks and risks to civilians within the case of accidents. UAV parachute recovery systems play an important role in mitigating these concerns, and thus, the longer-term prospects for market growth are pegged to stay positive.
The use of drones within the military was traditionally limited to policing and surveillance. Consistent with a study conducted by Goldman Sachs, the military segment holds a major share in the overall drone market, followed by commercial and consumer or recreational applications. Military drones are available in various sizes and classified as class I, class II, and class III (based on weight); the choice of the dimensions varies with the mission or project. Differentiation in sizes leads to several environmental concerns like accidents, operational disturbances in beginning or landing, and mid-flight disturbances. The deployment of emergency recovery systems like parachutes is useful in such scenarios.
UAV Outlook:
A fixed-wing UAV consists of one rigid wing like that of a standard airplane, and a large fraction of the desired lift during take-offs is made by the wing, making it more efficient than other UAV types. Fixed-wing UAVs are inclined to fly with high speed, cover a large range of areas notwithstanding wind conditions, and incorporate a mean flight time of about a minimum of two hours to a maximum of 16 hours if the drone is powered by a gas engine. They find widespread applications within the military as they often used as an alternative to manned flight in risky situations.
A rotary-wing UAV also referred to as a multi-rotor wing UAV, is made of a central body and multiple rotors (a minimum of 4 rotors and a maximum of six to eight rotors) that power flight. These UAVs offer greater maneuverability and are compact and straightforward to use as compared to traditional fixed-wing UAVs. These benefits make them ideal for application in commercial activities like aerial photography, video aerial inspection, construction, leisure, and agriculture.
Regional Outlook:
With the application of UAV drones being widened from military to commercial purposes, several new risk exposures like crash incidents are emerging. More such exposures are likely to occur with the introduction of regulations that might encourage the more widespread use of drones, leading to multi-million dollar claims against operators, manufacturers, and associated businesses. A substantial decline has been observed during 2016–2018 within the number of crashes, totally on account of the regulations introduced by the Federal Aviation Administration (FAA) in 2016 under Small Unmanned Aircraft Rule (Part 107). This regulation directs drone pilots to work UAV drones within visual sight and style drones equipped with anti-collision measures like lights and rescue systems.
Drone technology is bringing in growth opportunities for countries like Germany, the U.K., and France in Europe, which is a result of the increasing number of drones that are currently operating for private and commercial use. Consistent with the German Aviation Association, currently, about 500,000 drones operate in Germany, of which about 455,000 are privately operated drones used for surveying, mapping, filming, photography, and inspection while a mere 19,000 drones are used for commercial purposes.
On account of a pointy increase within the applications of drones internationally, developing countries like China, Japan, Australia, South Korea, and India are incorporating drone technology in their industrial verticals. For example, China is moving towards UAV systems to affect several domestic problems.
Similarly, the drone market in Japan is estimated to grow profoundly within the coming years on account of growing applications within the commercial segment. Consistent with a study conducted by the European Union–Japan Centre in 2016, the drone market for Japan was valued at about USD 28 million (2016) and can grow to an approx. of 930 million by 2030.
Latin American countries like Brazil, Argentina, Peru, and Colombia are developing their own drones and have considerably expanded programs related to them. For example, the Corporación Industrial Aeronáutica Colombiana (CINAC), an area weapons company, introduced ‘Iris,’ a home-built drone, in 2016. The drone is meant to succeed in a height of approx. 8,000 feet and features optic sensors. Similarly, in 2014, the Peruvian Air Force (FAP) drafted plans to team with Korea Aerospace Industries Ltd (KAI), a South Korean company, to manufacture mutually transferring kinetic technology (KT).
With the concept of smart cities taking roots in Middle Eastern countries like the United Arab Emirates (UAE) and Saudi Arabia, technological progress continues to succeed in exponential heights. Components like intelligent systems, autonomous transport, drones managing delivery & managing traffic, and robots collecting and processing data in real-time are pictured when talking about smart cities. Initiatives that specialize in smart cities would definitely increase the appliance of drone technology and associated markets like that of UAV parachute recovery systems to satisfy the security and security demand.
Competitive Landscape
There is intense competition among notable vendors within the global UAV parachute recovery systems market. A number of the prominent players within the global UAV parachute recovery systems market are Indemnis, Fruity Chutes, Butler Parachute Systems, Inc., ParaZero Drone Safety Systems Ltd., Galaxy GRS, Drone Rescue Systems GmbH, Skycat, and Mars Parachutes.
This report also includes the profiles of key UAV Parachute Recovery Systems market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.
Key Developments in UAV Parachute Recovery Systems Market:
What Does This Report Provide?
This report provides a detailed understanding of the global UAV Parachute Recovery Systems market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
Market Segmentation:
By Application
By UAV
By Region:
Reasons to Buy This Report:
Customization:
We provide customization of the study to meet specific requirements:
For more information, contact: [email protected]
Single User (PDF)
3850Multi User (PDF)
5150Enterprise User (PDF)
7650Avail customized purchase options to meet your exact research needs.
Detailed scope covering all the major segments in the market
In line data validations to ensure data precision
Market recommendations supporting decision making processes
Round the clock analyst support to resolve your queries
Up to 15% additional free customization to meet your specific requirements
IN +91 706 672 5858