Drone
is a flying robot commonly known as unmanned aerial vehicles (UAV) which can be
controlled by remote or self-automation software. From past few years, drones
were often used for military practices such as anti-aircraft target practice,
intelligence gathering and others. Now-a-days drones discovered their wide
range of application in commercial sector such as traffic monitoring, weather
monitoring, fire-fighting, search and rescue operations, drone-based
photography, as well as agriculture and delivery services. With the emerging
market of drones, drone education is also expanding. Various universities
across the globe are now offering bachelor degree in Unmanned Systems
Applications, these emerging trends in the drone technology will further spur
the demand for drones across the globe.
Market
Size & Forecast
Global drone market is anticipated to reach USD 25 billion
by the end of 2023 witnessing a compound annual growth rate of 18.2% over the
forecast period owing to the significant use of drones in various sectors.
Geographically, North America is anticipated to have the
upper hand over the global drone market owing
to the increasing production and wide application of drones in commercial
sector. Europe is estimated to be most attractive market in terms of profit
over the forecast period. In Canada, drones are mainly used for atmospheric
monitoring including atmospheric gas sampling and oceanographic research.
In terms of volume, nearly 4 million commercial drones are
sold in 2015. The number of sold units is anticipated to expand exponentially
over the forecast period reaching 18 million a year by 2023.
Drones are widely used for pest detection, search and rescue
of mammal species, volcanic monitoring, pollution monitoring and others. The
growing trend of adoption of drones in various activities will establish
numerous opportunities for the drone’s manufacturers in the global market.
Drone manufacturers in the market are focused on providing
comprehensive design with functionality and safety to ensure the best
performance and creative appearance.
Market
Segmentation
By
Product Type
Deep dive study has been carried out on the
following product segments:-
·
Commercial Drones
o Fixed
Wing Drones
o VTOL
Drones
§ Rotary
Blade Drones
§ Nano Drones
§ Hybrid
Drones
·
Military Drones
o Small
Tactical Unmanned Aircraft Systems (STUAS)
o Medium
Altitude Long Endurance (MALE) UAVs
o High
Altitude Long Endurance (HALE) UAVs
o Unmanned
Combat Air Systems (UCAS)
By
Payload
Depending upon the payload capacity of drones,
the market is further segmented into following categories:-
·
Up to 25 kg ( commercial drones)
·
Up to 150 kg ( commercial drones)
·
Up to 600 kg (military drones)
·
Above 600 kg (military drones)
By
Component
On the basis of component used in drones, thorough
study has been carried out on the following categories:-
·
Camera
·
Battery
·
Propulsion System
·
Sensors
·
Navigation System
·
Others (Transmitter, Range Extender, Frame)
By
Application
By end use application, the market can be
segmented in to following categories:-
·
Military Activities
·
Law Enforcement
·
Precision Agriculture
·
Media and Entertainment
·
Retail
·
Inspection and Monitoring
·
Surveying and Mapping
·
Do it Yourself (DIY) Drones
·
Education
Growth
Drivers and Challenges
Increasing use of drones in commercial sectors such as media
and entertainment, inspection, monitoring, surveying and mapping is fuelling
the demand for drones across the globe
Government all over the world are also implementing drones
in public safety services, drones are widely used by law and enforcement
agencies for surveillance. Drones are also used in infrastructure, scientific
research and R&D, environmental studies, and disaster management
activities. The wide range of application of drone will further intensify the
market growth over the forecast period.
E-commerce and retail industry is working on the using
drones in order to deliver product to the customers in a minimum time. However
such projects are held back by government bodies in order to ensure public
safety. Additionally, Drones are widely used in agriculture sector to produce
higher yield by regular crop monitoring. Key market players are making huge
investment in R&D activities to develop solar powered drones for
agricultural application. This will further boost the demand for drones in agricultural
sector. Government regulations regarding the violation of privacy policies are
considered to be the major restraint in the global drone market.
This
report also provides the existing competitive scenario of some of the key
players of the global drones market which includes company profiling of AeroVironment Inc., 3D Robotics Inc., AgEagle Aerial
Systems Inc., Agribotix LLC, Airware, DJI Innovations, HoneyComb Corp.,
Precision Hawk Inc., senseFly, Skycatch Inc. The profiling enfolds key
information of the companies which encompasses business overview, products and
services, key financials and recent news and developments. On the whole, the
report depicts detailed overview of the global drones
market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
To know more information, click on the link
below: https://www.researchnester.com/reports/drone-market-global-demand-growth-analysis-opportunity-outlook-2023/208
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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