Fixed-wing VTOL UAVs are fixed-wing aircraft that take off and land vertically. These vehicles can fly autonomously or can be piloted remotely and play a significant role in the defense as well as commercial sectors. The fixed-wing VTOL UAV market is estimated at USD 498 million in 2019 and is projected to reach USD 3,583 million by 2030, at a CAGR of 19.7% from 2019 to 2030.
The increasing adoption of fixed-wing VTOL UAVs for commercial applications such as product delivery, agriculture, aerial imaging, and inspection & monitoring, among others, is one of the factors driving the growth of the fixed-wing VTOL UAV market. The increasing use of fixed-wing drone to carry out advanced patrolling of marine borders is also a significant factor projected to drive the growth of the market.
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.
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The >100-kilogram segment of the fixed-wing VTOL UAV market is projected to grow at the highest CAGR during the forecast period.
Based on MTOW, the fixed-wing VTOL UAV market has been segmented into <25 kilograms, 25-100 kilograms, and >100 kilograms. The >100 kilograms 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 US, for applications such as firefighting & disaster management, maritime security, agriculture, product delivery, and inspection & monitoring, among others.
Key players operating in the fixed-wing VTOL UAV market include ALTI UAS (South Africa), UKRSPECSystems (Ukraine), Threod Systems (Estonia), Quantum Systems (Germany), Vertical Technologies (Netherlands), Arcturus UAV (US), Textron (US), Lockheed Martin (US), and Latitude Engineering (US).
ALTI UAS (South Africa) is one of the key players in the fixed-wing VTOL UAV market. The company offers a wide range of fixed-wing VTOL UAVs with wide applications such as security & surveillance, mapping & photography, and agriculture,among others. In November 2018, the company launched a Search and Rescue version of the ALTI Transition VTOL UAV which is designed for search and rescue missions. It also intends to expand its core business by developing new products in the UAV market. The company has excellent R&D capabilities and a strong brand image in the fixed-wing VTOL UAV market.
Arcturus UAV (US) is one of the key manufacturers in the fixed-wing VTOL UAV market. The company offers products in this market for military applications. Its strategy for sustainable long-term growth involves undertaking joint ventures and partnerships. In May 2019, Arcturus UAV entered a joint venture with Textron (US) and Insitu (US) to provide the Jump 20 UAV to the US. In December 2016, the company also entered a partnered with Hydrogen Engine Center (HEC-TINA) to develop a hydrogen fueled internal combustion engine that can support the T-20 family of unmanned aircraft.
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