UAV Propellers Market to surpass US$ 891.4 Mn globally by end of 2027 – CMI

SEATTLE, May 04, 2020 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global UAV propellers market was valued at US$ 258.1 Million in 2017 and is expected to exhibit a CAGR of 13.2% over the forecast period (2020-2027).Key trends and analysis:The global UAV propellers market is expected to grow significantly during the forecast period, owing to increasing demand for UAV in industries such as e-commerce. The e-commerce industry is using UAV or drones for goods delivery. For instance, Prime Air is the delivery system which was launched by Amazon in January 2017. In Prime Air delivery, goods are delivered by UAV or drones within 30 minutes on the roof top of buildings. Initially it was started in the New York City, U.S. only, however, over a period of time Amazon is expected to expand the Prime Air delivery system across more U.S. cities. Moreover, China-based e-commerce company, Alibaba, started the drone delivery system in November, 2017. Drones are efficient way to deliver products as such deliveries help save time and can deliver products to any remote location. These factors are expected to aid in positive growth/demand of the UAV propellers market during the forecast period.Request for Sample PDF copy @ https://www.coherentmarketinsights.com/insight/request-sample/3811Drone manufacturers are focusing on significant developments, innovations, and customization of their UAV product portfolio. For instance, MicaSense, Inc. with Quantum Systems have developed a dual camera system to the Trinity F90+ fixed wing UAV. The F90+ has about 90 minutes of flight time and long range telemetry. It can capture high resolution pictures and videos. These advanced drones have applications in wide number of industries such as agriculture, mining, and oil and gas. In April 2020, Orbital UAV signed a contract with Northrop Grumman, to develop a hybrid propulsion system for a VTOL UAV. With the new hybrid propulsion system, VTOL UAV will able to do vertical take-off and landing.Read Report Summary @ https://www.coherentmarketinsights.com/market-insight/uav-propellers-market-3811Market Takeaways:The global UAV propellers market is expected to exhibit a CAGR of 13.2% during the forecast period, owing to increase in demand for drones from the oil and gas industry. For instance, Sinopec Group, one of the largest producer of oil in the world, used micro drones for inspection of a 6,000 km oil pipeline in southern China in September 2019.North America held the dominant position in the global UAV propellers market in 2019, and is expected to retain its dominance throughout the forecast period. This is owing to increasing popularity of UAV in the region due to drone racing events. For instance, in December 2019, Lockheed Martin Corporation hosted an Artificial Intelligence Robotic Racing (AIRR) Circuit race for UAV in Austin, Texas.Asia Pacific is expected to witness significant growth over the forecast period. This is owing to increasing popularity of UAV due to rising number of racing events in this region. For instance, In September 2018, Science Center Singapore and MRAS hosted an Asia Drone Championship in Singapore. Due to such events, the awareness about the UAV are increasing in Asia Pacific region.Among material type, composite propeller segment held dominant position in the market in 2019, and is expected to retain its dominance during the forecast period. Composite drones generates less noise and vibrations due to which they are widely used in spy drones. Moreover, composite propellers have better durability than the wood propellers.Among industry, government & defense segment is expected to be the dominant segment over the forecast period. This is owing to increasing expenditure on the UAV by the different governments. For instance, in August 2019, Maharashtra Government used drones for mapping of 40,000 villages in the state.Major players operating in the global UAV propellers market include—Cato Manufacturing Ltd, Culver Props, Inc., Delta Electronics, Inc., Dowty Circuits Limited, Hartzell Propeller, Inc., McCauley Propeller Systems, Inc., Sensenich Propeller Service, Inc., and othersBuy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/3811Market Segmentation:Global UAV Propellers market, By Material Type:Wood PropellersCarbon Fiber PropellersComposite PropellersOthersGlobal UAV Propellers market, By Industry:Government and DefenseOil and Gas IndustryMiningE-commerce OthersGlobal UAV Propellers market, By Region:North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainRussiaRest of EuropeAsia PacificChinaIndiaJapanAustraliaSouth KoreaASEANRest of Asia PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East and AfricaGCC CountriesIsraelRest of Middle EastMr. Shah
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