Drones Market Research Report - Forecast 2028

Drones Market by Type (Fixed-Wing and Multi-Rotor), By Capability (Passenger Drones and Cargo; Drones), By Capacity (Up to 100 kg and Over100 kg),By Application (Agriculture (Field Mapping, Field Mapping, Crop Spraying, Agricultural Photography, Precise Agriculture; Management, Agriculture Insurance; Inspection), Industry (Construction, Oil Gas, Mining, Logistics, Aviation, Telecom)), Component(Airframe, Payload, Guidance Navigation Control, Propulsion System) Forecast 2030

ID: MRFR/A&D/0618-CR | February 2021 | Region: Global | 100 Pages         

Drones Market

Drones Market Size Valued at USD 45.7 Billion, market Grow at a CAGR Of 13.35% by 2020 -2030

Segmentation

By Type Fixed Wing Multi Rotor
By Capability Passenger Drones Cargo Drones
By Capacity Up To 100 Over To 100
By Application Agriculture Industry

Key Players

  • AeroVironment Inc. (U.S.)
  • BAE Systems PLC (U.K.)
  • General Dynamics Corporation (U.S.)
  • General Atomics (U.S.)
  • Denel Dynamics (South Africa)
  • Aurora Flight (U.S)
  • Northrop Grumman (U.S.)
  • Lockheed Martin Corporation (U.S.)
  • Draganfly (Canada)
  • DJI (China)
  • Elbit Systems Ltd. (Israel).

Drivers

  • Increased situational awareness in the defense and military sector
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Drones Market Overview

Globally, Drones Market Size is estimated to grow at substantial CAGR of 13.35% to reach forecasted value of USD 45.7 billion by 2030.
by (MRFR). 


Drones are pilotless platforms that can be remotely controlled by a human operator or navigate autonomously by a computer program aboard. Drones have the potential to revolutionize urban and rural infrastructure while also increasing agricultural output in poor countries. Drones are quickly replacing traditional land surveillance methods because they reduce labor and time required to collect data while removing the possibility of human error. The increasing acceptance of drone deployment in military operations has prompted suppliers to produce drones that may be utilized in a variety of commercial applications. 


Drones are also being used for various purposes, such as providing internet access in rural areas, aerial photography and video recording, surveying and documenting animals, and public service missions. Several companies primarily provide small drones for agricultural, aerial photography, and data collection purposes. Increased investments in drone technology are also expected to drive long-term industry growth. However, the market for drones may be hampered by technological limits such as limited durability and the presence of non-uniform rules and regulations that may ban the use of such systems in particular nations' airspace.


 


COVID-19 Impact Analysis


According to the Market report, the drones market has been impacted due to the outbreak of COVID-19. During the lockdown period, the global market growth has been hampered the manufacturing chain and supply chain. As a result, the global market has experienced a huge loss for the first half of 2020. 


However, the presence of market key players has handled the pandemic situation by implementing various strategies and safety measures to mitigate losses. Now, the global market is expecting to generate significant  Market Revenue for the forecast period. 


Global Market Dynamics 



  • Primary Key Drivers of the Market


As per the Drones Market Outlook research report, the global market is propelling its growth due to several important factors such as the increased situational awareness in the defense and military sector and the rising drones' deployment with geographic information systems. 


In July 2021, the Ministry of Civil Aviation, India has specified the rules for the use of drones, which has included the safety concern. It is expected to boost the demand for drones for the research period.



  • Opportunities for the Global Market


The market brings more significant growth opportunities for the manufacturers and key players, introducing commercial drone delivery services and developing urban air mobility services.


Moreover, the market has more scope for the forecast period due to the commercial drone delivery services presence in the cargo capability segment.



  • Restraints of Global Market


Although the market has huge growth potential, it can get obstructed due to the various security and safety concerns among the population. And, this increasing safety concern is predicted to hamper the market growth and Drones Market Value for the research period.


However, the key players are looking for additional promotional strategies to delimit the market restraints in the upcoming years.



  • Challenges for the Global Market 


The increasing growth of the drones market might get hampered due to the lack of expertise or trained pilots and UAS. Moreover, the traffic management issues and insurance cover for aerial delivery drones can be another challenge for the growth and development of the global market. 


In recent times, the market players are focusing on these management issues to provide a better customer experience to the world. 


Cumulative Growth Analysis 


The drones market is projected to show significant growth in the forecast period of 2028. In the GIS system, the demand for drones is increasing day by day, which is expected to bring more cumulative growth opportunities and scope for the global market.


Moreover, the regions like North America, MEA, and others are making continuous efforts to propel the growth of the market for the assessment period. 


Market segments Overview



  • By Type:


Based on the type segment, the global Market has been classified into fixed-wing and multirotor drones. 


The fixed-wing drone will generate a higher Drones Market Size for the review period among these segments. This segment demand is growing due to its ability to fly for a longer duration on high altitudes. Alternatively, the multirotor segment is expected to dominate the Drones Market Trends during the forecast period due to its ability to constantly maintain the visual on a single target. It can stay for a longer time.



  • By Capability:


Based on the capability segment, the drones market has been segregated into cargo, Passenger Drones, and others.


Out of all the segments, the cargo capability segment is projected to generate the significant Drones Market Share for the research period. This segment is expanding worldwide due to the development of the commercial drone market and increasing drones application for commercial purposes. 



  • By Capacity:


Based on the capacity segment, the global Market has been classified into over 100 kg and up to 100 kg.


Various industries have more demand over the drone market because of the availability of two capacity segments. According to their preference, they order the drone material. 



  • By Application:


Based on the application segment, the global Market has been segregated as the real estate, constructions, inspection & monitoring, spraying & seeding, mapping & surveying, security, search & rescue, transport & delivery, filming & photography, and others.


The real estate segment is predicted to achieve significant Market Growth in the upcoming years.


Regional Analysis


The drones market Trendshas spread all across the globe, especially the regions like North America, Asia Pacific, MEA, Europe, and the rest of the world.


According to the Drones Market Analysis report, North America is estimated to procure the largest market share and the largest Market Growth for the assessment period. This region is growing due to significant factors like large industries and recent development in drone technology. Moreover, the global market is showing significant growth for the forecast period due to the higher contributions of the countries like Canada and the U.S. Along with that, the global market is propelling its growth of this region due to the introduction of new guidelines by the Federal Aviation Administration (FAA) in the U.S. related to the safe and legal operation of UAVs in commercial spaces. Likely, the supportive initiatives by the U.S. government can bring a new revolution to drones marketing in the upcoming future. 


Competitive Landscape Analysis


The drones market has a huge presence of market payers across the globe, which includes:



  • AeroVironment Inc. (U.S.)

  • BAE Systems PLC (U.K.)

  • General Dynamics Corporation (U.S.)

  • General Atomics (U.S.)

  • Denel Dynamics (South Africa)

  • Aurora Flight (U.S)

  • Northrop Grumman (U.S.)

  • Lockheed Martin Corporation (U.S.)

  • Draganfly (Canada)

  • DJI (China)

  • Elbit Systems Ltd. (Israel).


According to the market Analysis report, these advanced key players are adopting new strategies like acquisition, collaboration, merger, promotion, and many more to develop their presence in the industry and bring development to the global market. Apart from that, these key players focus more on the new product development and launch to compete with their competitors. 


Recent Developments



  • February 2022: NASA announced a range of futuristic space technology proposals for further study. The designs and purposes vary significantly, but one interesting suggestion is a bird-like inflatable drone that might be dispatched to Venus to analyse its atmosphere and weather patterns from afar. All of the concepts chosen are still in their early phases of development and are not yet designated official NASA missions.

  • February 2022: India-based Drone startup Garuda Aerospace Private Ltd. declared plans to raise more than USD 30 million in order to meet its capital expenditure requirements for manufacturing high-quality drones for agricultural applications. The startup intends to invest in artificial intelligence and data analytics in order to improve crop productivity through drone applications, with the goal of doubling farmers' revenue.


Report Overview


According to the Drones Market Forecast report, the global market has shown significant growth. This report has included qualitative and quantitative research analysis to measure the  Market performance for the forecast period. Moreover, this report has highlighted various opportunities, drivers, challenges, restraints, and market growth factors. Additionally, the significant role of the major market players has been highlighted along with their implemented strategies, and ideas have been discussed. 


Apart from that, the Market Forecast report has also focused on the impact of COVID-19 on the global market, recent developments, and competitive landscape analysis. 


Segmental table:


By Type:



  • fixed-wing drone

  • multirotor drone


By Capability:



  • cargo

  • Passenger Drones

  • Others


By Capacity:



  • Over 100 kg

  • Up to 100 kg


By Application:



  • real estate, 

  • constructions, 

  • inspection & monitoring, 

  • spraying & seeding, 

  • mapping & surveying, 

  • security, search & rescue, 

  • transport & delivery, 

  • filming & photography, 

  • others



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 45.7 Billion
  CAGR   20.18%
  Base Year   2020
  Forecast Period   2030
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, By Capability, By Application
  Geographies Covered   North America, Asia Pacific, MEA, Europe, and the rest of the world.
  Key Vendors   AeroVironment Inc. (U.S.),BAE Systems PLC (U.K.),General Dynamics Corporation (U.S.),General Atomics (U.S.),Denel Dynamics (South Africa),Aurora Flight (U.S),Northrop Grumman (U.S.),Lockheed Martin Corporation (U.S.),Draganfly (Canada),DJI (China),Elbit Systems Ltd. (Israel).
  Key Market Opportunities   Several companies primarily provide small drones for agricultural, aerial photography, and data collection purposes
  Key Market Drivers   increased situational awareness in the defense and military sector


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Frequently Asked Questions (FAQ) :

CAGR of 13.35% Of Drones Market

Market Collect revenue of USD 45.7 billion by 2030 Drones Market

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

The increasing growth of the drones market might get hampered due to the lack of expertise or trained pilots and UAS