UNMANNED AERIAL VEHICLE DRONES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In January 2021, AeroVironment, Inc., a U.S.-based provider of unmanned aircraft systems and tactical missile systems, acquired Arcturus UAV, a privately-held manufacturer of Group 2 and 3 unmanned aircraft systems (UAS) and services company for a total purchase price of US$ 405 million. Furthermore, this acquisition contributed in strengthening the position of AeroVironment in the North America market.
• In April 2020, Orbital Corporation, an Australia based company, signed a deal with Northrop Grumman Corporation, a manufacturer of unmanned aerial vehicles, to develop a hybrid propulsion system for a vertical take-off and landing (VTOL) unmanned aerial vehicle (UAV)
• In December 2020, AeroVironment, Inc., a U.S.-based provider of unmanned aircraft systems and tactical missile systems, acquired Telerob Gesellschaft für Fernhantierungstechnik GmbH, a Germany-based ground robotic solutions company, for around US$ 45.4 million in cash, and will pay-off around US$ 9.4 million in Telerob’s debt at closing. Furthermore, this acquisition contributes in strengthening the presence of the company in the Germany, thereby increasing market share of the company in the Europe region.
• In April 2020, AeroVironment, Inc., a U.S.-based provider of unmanned aircraft systems and tactical missile systems, introduced Quantix Recon fully-automated hybrid vertical take-off and landing (VTOL) unmanned aircraft system (UAS) for defense applications
• In January 2020, Israel Aerospace Industries (IAI), aerial and astronautic systems manufacturer, introduced Heron Mk II Medium Altitude Long Endurance (MALE) Unmanned Aerial Vehicle (UAV) at the Singapore Airshow