Market Outlook

Drones market is all set to touch USD 66.012 billion by 2030, believes Market Research Future (MRFR). From 2023 to 2030, the market size would soar at a stunning rate of 14.30%, estimates Market Research Future.

Growth Boosters and Impediments  

Drones are a versatile technology that have changed the operations are carried out in different sectors such as construction, agriculture, law enforcement, commercial activities, and military operations. For instance, in the agriculture sector, drones help collect data that is then utilized to estimate the water level required by the crops or find any leakages within the irrigation system. No human intervention and the resultant decline in errors along with provision of quicker reaction to threats foster the demand for drones.

Drones market size is also in response to the large-scale investments by venture capitalists in start-ups that offer analytics and software. These software and systems help digitize the data gathered by drones. Most of the investments target imaging, data analytics and mapping software. To illustrate, in January 2022, ILUS International Inc acquired Vira Drones, an advanced unmanned aerial vehicle firm based in Switzerland and Germany. Vira Drones creates Industrial Drones or UAVs, a technology that is first of its kind and has the capability similar to that of light helicopters.

Segmental Review

Type and application are the top segments considered in the MRFR analysis, in order to give an extensive outline of the global market for drones.

Types of drones that have been studied in the report are Fixed-Wing as well as multi-rotor. Fixed-wing drones should gain the highest traction in the global market over the following years, largely owing to their escalating demand as they can fly extremely high altitudes and for a significant duration. Meanwhile, the leading segment would be the multirotor drone type during the appraisal timeframe.

Major applications of drones are agriculture, aerospace and defense, inspection and monitoring, transportation, government, and media and entertainment. The leading position will be achieved by the cargo segment in the next few years, in view of drones’ surging use for commercial purposes.

Regional Outlook

The drones market research is spread across regions like Europe, North America, the Middle East & Africa, Latin America, as well as Asia Pacific.  

North America is all set to be the market leader in the next few years, thanks to the soaring demand for drones in various industries such as construction, automotive, agriculture and more in Mexico, Canada, and the US. Emerging new drones in the region are equipped with upgraded imaging and sensor capabilities, giving a strong boost to their adoption rate. The high economic standards along with the sizeable investments in technical advances should help foster the sales of drones in the ensuing years.

Asia Pacific shall be the fastest developing market in the years ahead, thanks to the surging technological advances and rise in research activities by the top drone manufacturers. Companies in the region are increasingly developing economical drones with higher number of applications across different industries.

Top Participants

General Atomics (U.S.), Aurora Flight (U.S), AeroVironment Inc. (U.S.), BAE Systems PLC (U.K.), Denel Dynamics (South Africa), Draganfly (Canada), Elbit Systems Ltd. (Israel), General Dynamics Corporation (U.S.), Lockheed Martin Corporation (U.S.), Northrop Grumman (U.S.), DJI (China), are the significant drone manufacturers profiled.

Latest Updates

February 2022

Anduril Industries, a defense technology firm, will by acquiring Dive Technologies, an autonomous underwater vehicle-developer, with the aim to bolster its range of artificial intelligence-based tools and products. Dive Technologies is headquartered in Boston, and is the developer of DIVE-LD large displacement unmanned underwater vehicle, aka LD UUV.

Read More Blogs:

Tethered Drones Market Research Report Information By Type (Military Drones, and Commercial Drones), By Component (Sensors, Controller System, Camera, Battery, and Others), By Application (Inspection & Monitoring, Law Enforcement, Surveying, Mapping, and Others) and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030

Passenger Drones Market Research Report Information Information by Component (Airframe, Controller System, Navigation System, Propulsion System and others), by Capacity (Up to 100 kg and Over 100 kg), by Application (Commercial and Personal), by Rotor (Less Than 10 and More Than 10) - Forecast till 2030

Drones Market for Energy Industry Information by Drone Type (Fixed-Wing Drone, Rotary Blade Drone and Hybrid Drone), By Industry Type (Oil & Gas, and Power and Renewable), by Application (Inspection and Leak and Spillage Response and Security and Surveillance), By Technology (Hardware and Software) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America) - Forecast till 2030

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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