Drones Market Size
to exceed USD 283 billion by 2030 from USD 23.1 billion in 2021 at a CAGR of 28.50% throughout the forecast period, i.e., 2029-30
The drone is an aircraft that does not have a pilot but is controlled by someone on the ground, used especially for surveillance or for dropping bombs. They are also called unmanned aerial vehicle which provides a 24-hour “eye in the sky”. They increase safety, save time and resources, fast-track surveying, and deliver accurate measurements.
Market Highlights
The global drone market is estimated to grow on the back of the following reasons. The increasing demand for security, aerial services, the growing use of digital technology, and demand from various sectors of society backs up the growth of the Drone market. Moreover, Drones help in reducing the labor and time involved in the traditional method of collecting accurate information. They eliminate most of the human error involved in the process. Hence, all these factors are projected to aid the growth of the Drones market.
Global Drones Market Analysis
Market Dynamics
Drivers
Improvements to Infrastructure
Drones deliver superior strength and intelligence on job sites. Their ability to gather and report data allows them to complete the work more quickly. Everything but excluded from the equation is the need for manual labor. In the future, drones will certainly play many more important roles that are involved in major projects. These are designed to reduce the time it takes to create or build infrastructure, thus reducing costs. Contractors who are adapting drones are going to make much more money and gain more efficiency.
Transportation and Inspection
The introduction of drones in construction site inspection means amplification of worksite safety by eliminating a number of dangers and safety hazards. Using drones to transport goods aerially allows companies to reach difficult locations and keep track of everything that enters and leaves the job site. It is economical, efficient, and keeps the site secure.As drones are typically small with high maneuverability rates, they are increasingly being used as an alternative to conventional vehicles. Even better, drones don't have to abide by traffic laws that allow them to deliver within a fraction of the time, using half of the resources.
Restraint
Privacy and security concerns
Privacy and national security regulations are expected to have a negative impact on the growth of the Global Drone Market. Since the drones have to sometimes go through localities which might interrupt the privacy of the people and hence caters as a factor negatively affecting the growth of global drone market.
North America to register the highest CAGR during the forecast period
The global drones market is segmented on the basis of regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the Rest of the world is classified as Middle-East and Africa.The global drones market in North America held the largest market share of XX% in the year 2019. Factors such as efficiency, reduction in labor costs, and real-time imagery of a large area, coupled with factors like increased security of borders are anticipated to propel the growth of the drones market in North America.
The global drones market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- UK, Germany, France, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia-Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- India, China, South Korea, Malaysia, Japan, Indonesia, Australia, New Zealand and Rest of Asia-Pacific
- The Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- North Africa, Israel, GCC, South Africa, and Rest of the Middle East and Africa
Global Drones Market: Key Players
- AeroVironment Inc
Company overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- SZ DJI Technology Co Ltd
- Parrot SA
- 3D Robotics
- LeBron Unmanned Aircraft system
- Precision Hawk Inc
- Yuneec International Co Ltd
- Aeryon Labs Inc
- Trimble Navigation Ltd
- Insitu Inc
The Global Drones Market Report also contains an analysis on:
Drones Market by segments:
- By Product Type
- Fixed Wings Drones
- Rotary Blade Drones
- Hybrid Drones
- By Application
- Agriculture and Environment
- Media and Entertainment
- Energy
- Government
- Construction
- Archaeology
- Others
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
- Drones Market Size
- Drones Market Dynamics
- Supply and Demand
- Current Issues/trends/challenges
- Competition and Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraint
Frequently Asked Questions (FAQ):
The Drones Market size was estimated at USD 23.1 billion in 2021 and expected to reach USD 283 billion by 2031
AeroVironment Inc, SZ DJI Technology Co Ltd, Parrot SA, 3D RoboticsLeBron Unmanned Aircraft system, Precision Hawk Inc, Yuneec International Co Ltd, Aeryon Labs Inc, Trimble Navigation Ltd, Insitu Inc
Drivers: Improvements to Infrastructure and Transportation and Inspection
The drone is an aircraft that does not have a pilot but is controlled by someone on the ground, used especially for surveillance or for dropping bombs. They are also called unmanned aerial vehicle which provides a 24-hour “eye in the sky”. They increase safety, save time and resources, fast-track surveying, and deliver accurate measurements.
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