Nearly 20 Percent Annual Growth Anticipated Through The Period

According to the new market research report "Fixed-wing VTOL UAV Market by Vertical (Military, Government & Law Enforcement, Commercial), Propulsion (Electric, Hybrid, Gasoline), Mode of operation (VLOS, EVLOS, BVLOS), Endurance, Range, MTOW, and Region - Global Forecast to 2030", published by MarketsandMarkets, the Fixed-wing VTOL UAV Market is estimated at $498 million in 2019 and is projected to reach $3.5 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 19.7% from 2019 to 2030. The increasing adoption of fixed-wing VTOL UAVs in commercial and military applications is one of the most significant factors expected to drive the growth of the market due to improved design capabilities of fixed-wing VTOL UAV platforms.

Based on vertical, the military segment of the fixed-wing VTOL UAV market is projected to grow at the highest CAGR from 2019 to 2030. This growth can be attributed to the increased adoption of fixed-wing VTOL UAVs in military applications. Technological advancements in this platform would be a major driver for the greater adoption of fixed-wing VTOL platforms in intelligence, surveillance, and reconnaissance (ISR), combat operations, and battle damage management.

Based on MTOW, the fixed-wing VTOL UAV market has been segmented into <55 pounds, 55-220 pounds, and >220 pounds. The >220 pound segment is projected to grow at the highest CAGR from 2019 to 2030. This growth can be attributed to the increasing demand for high load payload carrying fixed-wing VTOL UAVs and technological advancements.

The fixed-wing VTOL UAV market in North America is expected to grow at the highest CAGR during the forecast period. This growth is primarily driven by the increasing demand for these UAVs from the U.S., for applications such as firefighting & disaster management, maritime security, agriculture, product delivery, and inspection & monitoring, among others.

(Source: MarketsandMarkets news release. Image from file)

FMI: www.marketsandmarkets.com