Increasing growth of UAVs in the U.S. to drive the global demand for UAV chips
The UAV chips market worldwide is expected to grow with a CAGR of 9.6% during the forecast period from 2019 to 2027, starting from US$ 2.7 Bn in 2018. An unmanned aerial vehicle is a non-human pilot or passenger aircraft. UAVs — sometimes referred to as drones — may be fully or partially autonomous, but a human pilot controls them more often remotely. The chips used in these UAVs are called UAV chips. These chips are made from silicon and other semiconductor devices. There has been an increasing demand for such chips, especially since the launch of several safety norms led by the government or other safety authorities. The U.S. is anticipated to dominate the global UAV chips market owing to rising demand for UAVs, especially for recreational purposes.
Market Synopsis
Fixed Wing UAVs to dominate the global market throughout the forecast period
In 2018, the fixed-wing UAVs segment dominated the global UAV chips market owing to increasing sales of fixed-wing UAVs across several end-use applications. People from all age groups opting for UAVs adopt fixed-wing UAVs due to easy availability, less cost, and ease of operation. Moreover, owing to the fewer costs, fixed-wing UAVs have witnessed huge demand from commercial and military applications. This rising number of fixed-wing UAVs is, in turn, anticipated to drive the demand for UAV chips over the forecast period.
The Asia Pacific to Register the Fastest Growth
North America accounted for the largest share in revenue in 2018 and is set to retain its dominance over the forecast period. Favorable government initiatives towards drone advancement and growing demand for drone-acquired data are the major factors supporting regional market growth. In addition, the U.S. Federal Aviation Administration (FAA) has issued new regulations to provide more consistent and coherent guidance on the legal and safe operation of UAVs in commercial spaces. Such rules and regulations are expected to reduce entry barriers and increase the adoption of regional products.
Asia Pacific is projected to witness the fastest CAGR during the forecast period. Countries such as China and Japan are increasingly accepting automation and advanced technology in order to counter rising labor costs. The higher efficiency of UAVs compared to human labor is expected to boost their adoption across the region for certain tasks, particularly in the agriculture sector. Due to several favorable regulations, drone sales in Europe are steadily increasing. Companies operating in the regional market are exploring new ways of transforming their conventional business processes by taking advantage of drones' benefits.
Some prominent players in the UAV Chips market include Qualcomm, Intel, STMicroelectronics, TI, Samsung, ATMEL, Nuvoton, XMOS, NVIDIA, and Rockchip, among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The UAV Chips market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global UAV Chips market based on type, application, and geography. Key segments covered in the report are as follows:
Segmentation Type Segment (2017–2027; US$ Bn)
8 bit
16 bit
32 bit
64 bit
Application Segment (2017–2027; US$ Bn)
Fixed Wing UAV
Unmanned Helicopter
Multirotor UAV
Others
Geography Segment (2017–2027; US$ Bn)
North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America
Unique data points of this report
Key trends across major regions and their countries in terms of the penetration of UAV chips across different applications
Analysis of major developments, strategies, and winning imperatives adopted in the global UAV industry
Attractive investment proposition for segments as well as geography
Competitive landscape and profiles of major companies operating in the global UAV chips market
Frequently asked questions :
The market for UAV Chips Market is expected to reach US$ XX Bn in 2027.
The UAV Chips Market is expected to see significant CAGR growth over the coming years, at 9.6%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Qualcomm, STMicroelectronics, Intel, NVIDIA, TI are some of the major players in the global market.
