Global Drones Market to Grow at 12.56% During 2022-2027, Impelled by Development of Next-Generation Smart Variants

June 29, 2020

According to the latest report by IMARC Group, titled “Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global drones market size reached US$ 22.1 Billion in 2021. A drone, also known as an unmanned aerial vehicle (UAV), refers to an unpiloted aircraft that can fly autonomously or controlled remotely. It contains various components, including a flight controller, electronic speed controller (ESC), GPS module, battery, antenna and sensors. Drones require a controller, which is used remotely by an operator to launch, navigate and land it using radio waves. Nowadays, drones are used for a variety of applications, ranging from surveillance, search and rescue, firefighting, and traffic and weather monitoring to photography, videography, agricultural research and delivery services.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Drones Market Trends:

Over the past decade, the deployment of drones in the military and defense sector has emerged as one of the most significant factors bolstering the growth of the market. These vehicles help survey lands, provide consistent and reliable topographical data, improve safety and avoid hazardous situations. Besides this, surveillance drones are being utilized to track public activity around hotspot zones during lockdowns imposed to curb the spread of the coronavirus disease (COVID-19). Apart from this, the integration of drones with the internet of things (IoT) has helped farmers to monitor agricultural land and crops, energy companies to survey power lines and operational equipment, and insurance providers to examine properties for claims. Furthermore, reduction in costs and improvements in graphic visualization have led to an increased demand for UAVs in the construction and real estate sectors. Moreover, technological advancements have enabled drone manufacturers to design variants with different shapes, sizes and weights, making them useful across a broader application base. Market players are also focusing on developing next-generation smart drones with built-in safeguards, compliance technology, self-monitoring and accurate sensors. Looking forward, the market is projected to grow at a CAGR of 12.56% during 2022-2027.

Market Summary:

  • Based on the type, the market has been segmented into fixed, rotary and hybrid wings.
  • On the basis of the component, the market has been segregated into hardware, software and accessories.  
  • The market has been categorized based on the payload into <25, 25-170 and >170 kilograms.
  • Based on the point of scale, the market has been bifurcated into original equipment manufacturers (OEM) and aftermarket.
  • On the basis of the end use industry, the market has been divided into construction, agriculture, military and defense, law enforcement, logistics, media and entertainment, and others.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Indonesia, Australia and others), Europe (Germany, France, Italy, the United Kingdom, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined with some of the key players being 3D Robotics Inc., 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.
     

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Global Drones Market to Grow at 12.56% During 2022-2027, Impelled by Development of Next-Generation Smart Variants
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