Nearly 20 Percent Growth Rate Seen Over The Next Five Years

A new report forecasts that the VTOL UAV Market is estimated to be valued at $2.23 billion in 2015 and is projected to reach $5.5 billion by 2020, at a CAGR (Compound Annual Growth Rate) of 19.73% from 2015 to 2020.

The report "VTOL UAV Market by Application (Military, Civil & Commercial, Homeland Security), Type (Multicopter, Helicopter, Hybrid), Size (Large, Medium, Small, Micro), Propulsion, Payloads, Geography - Global Forecast to 2020", published by MarketsandMarkets analyzed and studied the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, Latin America, and Africa.

The report discusses about the market opportunities that exist in the VTOL UAV over the forecast period, 2015-2020.

According to the report, the demand for VTOL UAVs has been increasing rapidly; however, certain restrictions are still imposed by governments and civil authorities. They are used in various commercial and civil applications such as surveillance, reconnaissance, exploration, and mapping, among others. The UAV's fly at a low level, and therefore masses could be at risk. To avoid people from this danger, in January 2010, U.K's Civil Aviation Authority (CAA) introduced new regulations that require operators of VTOL UAV to obtain permission from the CAA before commencing a flight within a congested area or in proximity to people or property.

The global VTOL UAV market by application type is the fastest-growing countries in the Asia-Pacific region. The VTOL UAV market in the countries, such as Japan and India of the Asia-Pacific region, is projected to grow at a faster pace from 2015 to 2020. The VTOL UAV market in these countries is expected grow for military and commercial applications in the next five years.

The VTOL UAV market is diversified and competitive, however, its influence is high in the North American and European regions.

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FMI: www.marketsandmarkets.com