Global Drone Market Size, Share, and COVID-19 Impact Analysis, By Type (Fixed Wing Drone, Rotary Wing Drone), By Product Type (Commercial Drone, Military Drone, Other Types), By Propulsion (Heat Engine, Electrical Engine, Jet Engines, Others), By Application (Construction, Agriculture, Aerial Surveying, Entertainment, Combat Operations, Border Security, Law Enforcement, Other Applications) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Aerospace & Defense
Global Drone Market Insights Forecasts to 2030
- The Drone Market size was valued at USD 28.5 billion in 2021
- The market is growing at a CAGR of 27% from 2022 to 2030
- The Global Drone Market is expected to reach USD 260 billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Drone Market is expected to reach USD 260 billion by 2030, at a CAGR of 27% during the forecast period 2022 to 2030.
Drones are unmanned aircraft, which are commonly referred to as unmanned aerial vehicles (UAVs) or unmanned aircraft systems or drones. A drone is essentially a hovering robot that may be remotely controlled or fly totally autonomously utilizing flight plans controlled by software, onboard sensors, and a GPS. Drones are used in a wide range of applications such as traffic monitoring, videography, agriculture, delivery services, and weather monitoring but it is majorly utilized for search & rescue and surveillance.
Drones or UAVs were primarily associated with military and defence since the Second World War. They are used for anti-aircraft target practice, aerial surveillance, weaponry, intelligence gathering, artillery spotting, and, more controversially, as weapons platforms. For instance, it was used to train anti-aircraft gunners as well as fly attack flights. Throughout the war, Nazi Germany created and operated a variety of UAV aircraft, including the Argus 292 and the V-1 flying bomb with a jet engine.
Drones are equipped with several sensors such as ultrasonic, laser, or LIDAR distance sensors, time-of-flight sensors, chemical sensors, and stabilization and orientation sensors for better flight control, precise location control, and communication operations. To illustrate, thermal sensors enable surveillance and security applications such as detecting heat signatures and tracking animals. Hyperspectral sensors can identify minerals and plants in addition to crop health, water quality, and surface composition.
This research report categorizes the market for Global Drone Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Drone Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Drone Market.
Global Drone Market Report Coverage
|Market Size in 2021:||USD 28.5 Billion|
|Forecast Period 2021-2030 CAGR:||27%|
|2030 Value Projection:||USD 260 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||199|
|Tables, Charts & Figures:||124|
|Segments covered:||By Type, By Product Type, By Propulsion, By Application, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Aeronavics Ltd., 3D Robotics, XAG Co. Ltd., Skydio, EHANG, Joby Aviation, Inc., Ondas Holdings Inc., AeroVironment Inc., The Boeing Company, Chengdu JOUAV Automation, SKYDIO, Lockheed Martin Corporation, Draganfly Innovations Inc., Draganfly Inc., SZ DJI Technology Co., Ltd. , Intel Corporation, DELAIR, Eve Holding, Inc., PrecisionHawk Inc., EHang Holdings Limited, NVIDIA Corporation, Yuneec International, AgEagle Aerial Systems, Inc., Ambarella, Inc., Autel Robotics, Parrot Drones SAS, Leptron Unmanned Aircraft Systems, Inc., Kratos Defense & Security Solutions, Inc.|
|Growth Drivers:||In the foreseeable future, innovation, governmental regulatory changes, and new use case opportunities could have a substantial impact on any or all of the business in the drone market.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Technological development in electronics and integrations of modern technologies such as artificial intelligence (AI) and machine learning (ML) into drones using modern computing, microcontrollers, processors, and mobile hardware is driving the industry to new heights. They enable high-speed data capture, processing, and transfer for their consumers, allowing them to make real-time, data-driven decisions. Artificial intelligence helps drones to work efficiently by managing and storing massive volumes of data with cloud technologies. Skydio, Inc., a drone manufacturer, presented the Skydio X2 AI-enabled drone to meet the demand of the most sophisticated fleets in the drone market.
Increasing adoption of drones in several applications, including internet provision in remote locations, aerial videography & photography, survey and diarizing flora & fauna, and public services missions is expected to grow the demand for the drone market. Moreover, sectors with high rates of crime and labour expenses are also more likely to see the development of traditional use cases like monitoring, surveillance, and security.
In the foreseeable future, innovation, governmental regulatory changes, and new use case opportunities could have a substantial impact on any or all of the businesses in the drone market. There are numerous opportunities in the drone industry. Agriculture, oil and gas, real estate, government, transportation, entertainment and media, telecommunications, and mining are among the emerging sectors for drone technologies.
Drones are gaining popularity in the construction business due to their effective and time-saving qualities when scanning construction sites for layout operations. During an emergency reaction, several industrial businesses and firms use drones equipped with thermal imaging cameras to make touch with and detect causalities that are not visible to the naked eye.
- In 2021, the rotary wing drone segment is witnessing significant CAGR growth over the forecast period
On the basis of type, the Global Drone Market is segmented into fixed wing drones and rotary wing drones. Among these, the rotary wing drone segment is expected to increase at a substantial CAGR during the forecast period due to its capacity to hover and execute agile manoeuvres while keeping a visual on a specific target for extended periods of time. Such drones are frequently viewed as a viable alternative for a variety of commercial purposes such as monitoring, cinematography, photography, and surveillance. Also, they are easier to fly than hybrid and fixed-wing equivalents.
- In 2021, the commercial drone segment is dominating the market over the forecast period
On the basis of type, the Global Drone Market is segmented into commercial drone, military drone, and other types. Among these, the commercial drone segment is witnessing significant CAGR growth over the forecast period. The commercial segment of the drone market is growing due to reasons such as technological developments in the industry and expanding application areas such as precision agriculture, oil & gas, aerial imaging, cargo management, traffic monitoring, and others. Oil and gas companies use highly developed commercial drones (UAVs) equipped with powerful cameras, 3D models, thermal imaging, and modelling software to swiftly and extensively inspect pipelines, exterior surfaces, and the subsurfaces of storage facilities.
- In 2021, the electrical engine segment holds the largest market share over the forecast period
On the basis of type, the Global Drone Market is segmented into heat engines, electrical engines, jet engines, and others. Among these, the electrical engine segment holds the largest market share over the forecast period. The main elements of the electric engine propulsion system include, such as propeller, engine, regulator, and battery. Electric engines have the ability to produce torque in direct relation to the voltage of the power source. Since they utilize rechargeable batteries, they are lighter, more manoeuvrable, more energy-efficient, and more ecologically friendly than their traditional counterparts. Another advantage is that they produce considerably less exhaust than a traditional combustion engine.
- In 2021, the construction segment is dominating the market with the largest market share of 37% over the forecast period
Based on the application, the Global Drone Market is segmented into construction, agriculture, aerial surveying, entertainment, combat operation, border security, law enforcement, and other applications. Among these, the construction segment dominates the market with the largest market share of 37% over the forecast period. Traditional land-based surveillance techniques are being quickly replaced by drones because they require far less time and labour to collect the required data while minimizing the possibility of human error. Engineers and surveyors can use drones to inspect tall buildings and use aerial photography to track the development of a project.
Given that drones have emerged as a crucial part of agricultural management, the agriculture category is likely to develop at the quickest rate throughout the projected period. Drones also assist farmers with a variety of tasks, including field monitoring and analysis, as well as agricultural plantation planning to analyse crop development and health.
Regional Segment Analysis of the Drone Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is dominating the market with the largest market share of 38%.
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With a 38% market share, North America is likely to emerge as the industry's leading region throughout the forecast period owing to increased favourability from governments, development in drone technology, and growing demand from consumers from several industries. For instance, the United States had more than 60% of demands for military usage in 2020. General Atomics, Lockheed Martin, Northrop Grumman, Boeing, Baykar, TAI, IAIO, CASC, and CAIG are among the top military drone and UAV manufacturers in the United States. General Atomics is the leading producer of the Global Hawk and Predator/Mariner systems.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Drone Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players
- Aeronavics Ltd.
- 3D Robotics
- XAG Co. Ltd.
- Joby Aviation, Inc.
- Ondas Holdings Inc.
- AeroVironment Inc.
- The Boeing Company
- Chengdu JOUAV Automation
- Lockheed Martin Corporation
- Draganfly Innovations Inc.
- Draganfly Inc.
- SZ DJI Technology Co., Ltd.
- Intel Corporation
- Eve Holding, Inc.
- PrecisionHawk Inc.
- EHang Holdings Limited
- NVIDIA Corporation
- Yuneec International
- AgEagle Aerial Systems, Inc.
- Ambarella, Inc.
- Autel Robotics
- Parrot Drones SAS
- Leptron Unmanned Aircraft Systems, Inc.
- Kratos Defense & Security Solutions, Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In November 2022, UAVIA and Parrot announce Technology and Marketing Partnership. The two companies are democratizing 4G autonomous drones by interconnecting the Parrot Anafi Ai with the UAVIA Robotics Platform. The Anafi Ai UAVIA Inside can complement the fleets of drones accessible from the UAVIA cloud platform providing an unbeaten characteristics mix regarding weight, autonomy, and 4K video performance.
- In November 2021, XAG Co. Ltd, a Chinese manufacturer of agricultural drones, launched its V40 and P40 Agricultural Drone globally. The XAG V40 and P40 are fully autonomous drones that can conduct mapping, spraying, and broadcasting on farms. The drones are built with a highly modular design that enhances their multi-functionality.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the Global Drone Market based on the below-mentioned segments:
Global Drone Market, By Type
- Fixed Wing Drone
- Rotary Wing Drone
Global Drone Market, By Product Type
- Commercial Drone
- Military Drone
- Other Type
Global Drone Market, By Propulsion Type
- Heat Engine
- Electrical Engine
- Jet Engines
Global Drone Market, By Application
- Aerial Surveying
- Combat Operations
- Border Security
- Law Enforcement
- Other Applications
Global Drone Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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