Drones Market

Global Drones Market Size:

The global drones market size reached US$ 27.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 59.2 Billion by 2032, exhibiting a growth rate (CAGR) of 10.84% during 2024-2032. The market growth is primarily driven by the increasing consumer interest in recreational activities, including drone racing and personal photography, the integration of 5G, IoT, and augmented reality technologies, and the implementation of regulations and supportive policies by government bodies.

Global Drones Market Analysis:

• Major Market Drivers: The continuous advancements in drone technology, such as improved battery life, better sensors, enhanced maneuverability, and increased payload capacities are mainly stimulating the market growth. Besides this, the rising popularity of drones across several sectors, including infrastructure inspection, agriculture, and construction for site surveys, crop monitoring, and asset reviews is augmenting the market expansion further.
• Key Market Trends: Drones offer unique advantages in surveillance and security applications, providing real-time aerial monitoring capabilities over large areas, which are crucial for applications, such as border surveillance, crowd monitoring, disaster response, and law enforcement. This, in turn, is catalyzing the market growth globally. Moreover, the extensive utilization of drones for construction, urban planning, and building inspections, owing to the emerging trend of urbanization and infrastructure development projects, is also bolstering the growth of the market.
• Competitive Landscape: Some of the major drones market companies comprise 3D Robotics, AeroVironment Inc., Birdseyeview Aerobotics Inc., Delair SAS, DroneDeploy Inc., Intel Corporation, Parrot SA, Precisionhawk Inc., SZ DJI Technology Co. Ltd. (iFlight Technology Co. Ltd.), Terra Drone Corporation, and Boeing Company among others.
• Geographical Trends: North America represented the largest region, on account of its well-developed and state-of-the-art research and development infrastructure and the growing culture of entrepreneurship. Moreover, the extensive utilization of drones across the agriculture, public safety, and infrastructure inspection sectors is also stimulating the market growth in this region. Apart from this, the continuous technological innovations and the elevating requirement for these devices for data collection and optimizing operations are also augmenting the global market.
• Challenges and Opportunities: The major challenges hampering the global drones market statistics include integrating these devices into the existing airspace systems without compromising safety or disrupting manned aviation. However, the escalating demand for drones across the construction, agriculture, transportation, energy, public safety, and entertainment industries to improve productivity, streamline operations, and unlock new capabilities presents significant opportunities for market expansion in the coming years.
   

Global Drones Market Trends:

Technological Advancements and Innovation

The ongoing advancements of key technologies, such as GPS, navigation systems, battery life, and sensor capabilities, have enabled these devices to become more versatile and capable, which is stimulating the global drones market demand. Besides this, the incorporation of cutting-edge features, including obstacle detection, artificial intelligence, and machine learning has enhanced the product’s functionality, enabling it to perform complex tasks with increased efficiency and precision. For instance, the drone-in-a-box solutions provider Percepto announced the launch of a new drone called Air Mobile. According to the company, Air Mobile is ideal for linear inspections and can monitor short-term projects across multiple sites in sectors, including construction. The Air Mobile drones can be stored permanently on-site within their respective Percepto Bases. The encasements are designed for infrequent maintenance and protection against extreme environmental phenomena, such as hurricanes. Moreover, the elevating requirement for drones across various sectors, such as agriculture, construction, defense, and emergency response, owing to reduced manufacturing costs and increased affordability, is catalyzing the market growth further. Additionally, the growing collaboration between industry stakeholders, including manufacturers, technology providers, and regulatory authorities is positively influencing the demand for drones. For example, Australia's Civil Aviation Safety Authority (CASA) granted operational approval to drone-in-a-box solutions provider Percepto to fly beyond visual line of sight (BVLOS) in the country. Moreover, in July 2023, Currawong Engineering stated that it will continue its relationship with AeroVironment Inc. by giving the company's JUMP-20 unmanned aircraft system (UAS) the upcoming batch of High-Performance Velocity Electronic Speed Controllers (ESC).

Government Regulations and Supportive Policies

The implementation of several government regulations and supportive policies plays an important role in shaping the global drones market outlook. Countries across the globe are working to establish clear legal frameworks and regulations that ensure the safe and responsible usage of drones. These guidelines cover various aspects, such as pilot certification, flight restrictions, privacy concerns, and safety standards. For instance, the Federal Aviation Administration (FAA) of the United States issued regulations that establish uniform guidelines for drones' legal and safe operation in commercial environments. According to the FAA, about 900,000 drones were registered in the United States. Moreover, regulatory support fosters innovation, encourages investment, and builds consumer trust. Additionally, the increasing collaborative efforts between regulatory bodies, industry stakeholders, and academic institutions to elevate the commercialization and standardization of drone technology are catalyzing the global drones market overview further. For example, the Federal Aviation Administration gave approval to an Alphabet-owned business to use drones to make commercial deliveries in the United States. Leading companies, such as Amazon and DHL, have built their own drone delivery systems to make speedy deliveries and transfer products.

Global Initiatives for Disaster Management and Emergency Response

Drones play a pivotal role in disaster management and emergency response, acting as a substantial driver for the industry's growth. In line with this, the extensive utilization of these devices for providing quick assessment and real-time information during natural disasters, including earthquakes, floods, and wildfires, enabling more effective rescue and relief operations, is positively impacting the global drones market revenue. Moreover, the ability to access hard-to-reach areas, offer aerial imagery, and deliver essential supplies has made drones valuable tools in emergency scenarios. Apart from this, the integration of these devices by governments, NGOs, and international agencies into their disaster management strategies for saving lives and reducing damage is also catalyzing the global market. Additionally, the launch of favorable initiatives promoting the use of technology in humanitarian efforts is reinforcing the value of drones and fostering collaborative projects across nations, which will bolster the market expansion over the forecasted period. For instance, in June 2023, India’s Defense Acquisition Council (DAC) announced the procurement of 31 MQ-98 Predator drones manufactured by General Dynamics Atomics Systems Inc. The procurement cost is US$ 3 Billion, and acquiring these drones will improve India’s surveillance capabilities beyond its borders.

Global Drones Market Segmentation

IMARC Group provides an analysis of the key trends in each segment of the global drones market report, along with forecast at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, component, payload, point of sale, and end-use industry.

Breakup by Type:

• Fixed Wing
• Rotary Wing
• Hybrid
   

Fixed wing holds the largest share in the industry

The report has provided a detailed breakup and analysis of the market based on the type. This includes fixed wing, rotary wing, and hybrid. According to the report, fixed wing represented the largest segment.

Fixed-wing drones excel in covering large areas swiftly and efficiently, making them highly suitable for various tasks, such as aerial mapping, surveying, agriculture, and environmental monitoring. The extended flight times allowed by their design provide a distinct advantage over multi-rotor counterparts, enhancing their appropriateness for long-range missions. Moreover, the escalating demand for accurate geospatial data, particularly in several industries, including construction, mining, and agriculture, is catalyzing the global drones market share in this segment. Additionally, regulatory frameworks that increasingly accommodate the integration of drones into various sectors further bolster the market's expansion. For instance, Parrot and Tinamu, the Swiss drone automation technology provider, partnered to integrate the Parrot ANAFI AI drone into Tinamu’s indoor monitoring solutions. The Parrot UAVs and Tinamu’s software capabilities are expected to result in an advanced, completely automated robotic solution built for the industry.

Breakup by Component:

• Hardware
• Software
• Accessories
   

Hardware holds the largest share in the industry

The report has provided a detailed breakup and analysis of the market based on the component. This includes hardware, software, and accessories. According to the report, hardware represented the largest segment in the global drones market statistics.

The continuous pursuit of lightweight, high-performance materials and components fuels significant advancements in drone hardware. Besides this, the rising need for specialized sensors, cameras, and communication modules in drones that improve their capabilities, owing to their increased adoption across several sectors, including agriculture, infrastructure inspection, and surveillance, is stimulating the market growth. Moreover, the escalating demand for reliable and precise navigation, improved battery efficiency, and data processing prowess further propels innovation in drone hardware components.

Breakup by Payload:

• <25 Kilograms
• 25-170 Kilograms
• >170 Kilograms
   

<25 kilograms payload dominates the market

The report has provided a detailed breakup and analysis of the market based on the payload. This includes <25 kilograms, 25-170 kilograms, and >170 kilograms. According to the report, <25 kilograms accounted for the largest market share.

Drones within this weight category offer a versatile solution for various sectors, such as aerial photography, small-scale delivery, environmental monitoring, and infrastructure inspection. In addition to this, the elevating requirement for cost-effective, agile, and easily deployable aerial solutions across industries positively influences the demand for drones with sub-25-kilogram payloads. Moreover, regulatory frameworks that facilitate the integration of lightweight drones into airspace operations also contribute substantially to the market's expansion. Besides this, technological advancements in miniaturization, battery efficiency, and communication systems further bolster the capabilities of sub-25-kilogram payload drones, making them more efficient and user-friendly. For instance, major logistics and retail companies worldwide, such as Domino’s & Amazon.com, Inc., use drone package delivery to seamlessly deliver products to consumers.

Breakup by Point of Sale:

• Original Equipment Manufacturers (OEM)
• Aftermarket
   

Original equipment manufacturers (OEM) holds the largest share in the market

A detailed breakup and analysis of the market based on the point of sale has also been provided in the report. This includes original equipment manufacturers (OEM) and aftermarket. According to the report, original equipment manufacturers (OEM) accounted for the largest market share.

OEM point of sale serves as a critical avenue for businesses to access several drone components, ensuring quality, compatibility, and customization. As the drone industry matures, the demand for specialized parts, such as sensors, propulsion systems, and communication modules continues to increase. This necessitates a reliable supply chain from OEMs, driving innovation and competition in the market. Additionally, the increasing popularity of drone applications across the agriculture, surveillance, and logistics industries bolsters the need for OEMs to provide diverse, high-quality offerings. Moreover, the continuous technological advancements in drone hardware and software further amplify this demand, as OEMs play a central role in introducing cutting-edge features to the market.

Breakup by End-Use Industry:

• Construction
• Agriculture
• Military and Defense
• Law Enforcement
• Logistics
• Media and Entertainment
• Others
   

Military and defense dominates the market

The report has provided a detailed breakup and analysis of the market based on the end-use industry. This includes construction, agriculture, military and defense, law enforcement, logistics, media and entertainment, and others. According to the report, military and defense accounted for the largest market share.

Drones have increasingly revolutionized military and defense operations by providing enhanced reconnaissance, surveillance, and target acquisition capabilities. In addition to this, the elevating need for real-time situational awareness, border security, and counterterrorism efforts propels the demand for advanced drone technologies. Moreover, the ongoing development of autonomous and semi-autonomous drones to offer strategic advantages in reducing human risk and increasing operational efficiency is also catalyzing the market growth in this segment. As governments and defense agencies prioritize the integration of drones into their operations, investments in research and development of cutting-edge drone technologies are rising. Furthermore, the emergence of multidomain warfare strategies highlights the importance of versatile drones that can operate across land, air, and sea domains. For instance, in July 2023, the Indian Armed Forces issued a notice to purchase 97 medium-category and long-endurance 'Made-in-India' drones. Besides this, Garuda Aerospace and Elbit Systems signed an agreement at the Defense Expo for Garuda Aerospace to provide Skylark 3 UAS drones to commercial and government agencies. Skylark 3 drones implement large-scale surveying and mapping of government village projects. Moreover, in April 2024, the Indian Air Force (IAF) stated that it is developing an artificial intelligence-based drone system to carry out inspection of aircraft engines that would replace the conventional manual methods of carrying out such checks. The system would consist of high-resolution cameras mounted on a mini- or micro-drone, imaging software and machine learning algorithms to detect, identify and classify defects like cracks, corrosion, dents, distortion, and damage on external and, to some extent, internal components.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest drones market share 

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. As per the drones market report, North America accounted for the largest segment of the market.

North America dominates the global market owing to its well-developed and state-of-the-art research and development infrastructure and the growing culture of entrepreneurship. Moreover, the extensive utilization of drones across various sectors, such as agriculture, public safety, and infrastructure is also stimulating the market growth in this region. Apart from this, the continuous technological advancements and innovations across several industries and the elevating requirement for these devices for data collection and optimizing operations are augmenting the global drones market recent price substantially. For instance, Canada-based agritech startup Precision AI raised seed funding of US$ 20 Million to assist the agriculture industry in reducing its chemical footprint by deploying swarms of artificially intelligent drones to decrease the use of herbicides in agriculture.

Leading Key Players in the Drones Industry

The global drones market is experiencing significant growth due to the escalating amount of research and development to enhance drone capabilities. This includes improving flight stability, battery life, range, payload capacity, and the integration of advanced sensors and cameras for better data collection and analysis. Along with this, companies are tailoring drones for specific industries, such as agriculture, construction, mining, oil and gas, environmental monitoring, and public safety. They are designing drones with specialized features and payloads to meet the unique requirements of these sectors. In addition, manufacturers are working on developing autonomous and semi-autonomous drone systems to perform tasks without constant manual intervention, increasing efficiency and reducing the need for skilled operators. Therefore, this is positively influencing the market. Apart from this, the development of software platforms for flight planning, data processing, and analysis is significantly supporting the market. Furthermore, the integration of third-party sensors, cameras, and other components to create a tailored solution is contributing to the market.

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the major market players in global Drones industry includes:

• 3D Robotics
• AeroVironment Inc.
• Birdseyeview Aerobotics Inc.
• Delair SAS
• DroneDeploy Inc.
• Intel Corporation
• Parrot SA
• Precisionhawk Inc.
• SZ DJI Technology Co. Ltd. (iFlight Technology Co. Ltd.)
• Terra Drone Corporation
• Boeing Company
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Global Drones Market Recent Developments

• April 2024: QinetiQ achieves UK’s first jet-to-jet teaming between aircraft and autonomous drone. The trial took place in collaboration with the Defense Science and Technology Laboratory (Dstl), the Royal Navy and the Air and Space Warfare Centre (ASWC).
• April 2024: The Indian Air Force (IAF) is developing an artificial intelligence-based drone system to carry out inspection of aircraft engines that would replace the conventional manual methods of carrying out such checks.
• April 2024: Northrop Grumman has been awarded a US $387 Million contract to sustain Italy, Japan, and South Korea’s RQ-4 Global Hawk drones. According to the U.S. Department of Defense, the contract is part of foreign military sales to the Government of Korea, Japan’s Ministry of Defense, and the North Atlantic Treaty Organization (NATO).

Global Drones Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the drones market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global drones market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the drones industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.