IMARC Group, a leading market research company, has recently released the report titled “Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028. The study provides a detailed analysis of the industry, including the global drone market share, size, trends and growth forecasts. The report also includes competitive and regional analysis and highlights the latest developments in the market.
How big is the drone market?
|Report Attributes||The details|
|Market size in 2022||24.8 billion dollars|
|Market forecast to 2028||48.1 billion dollars|
|Growth rate (2023-2028)||CAGR of 12.4%|
|Base year of analysis||2022|
What are drones?
Drones or unmanned aerial vehicles (UAVs) are aircraft that are remotely controlled by a pilot or navigate autonomously through a computer programmed on board. They include several components such as an electronic speed controller (ESC), global positioning system (GPS) module, antenna, flight controller and sensors. Some types of drones commonly available include multi-rotor, fixed-wing, single-rotor and fixed-wing hybrid vertical take-off and landing (VTOL) drones. They are manufactured using multiple materials, including fiberglass, carbon aluminum, fiber composites, and plastic. They are also employed for traffic and weather monitoring, personal use, distribution services, photography, videography, firefighting, surveillance and rescue operations. As a result, drones have been widely adopted in military and defense, logistics, law enforcement, media and entertainment industries, construction and agriculture across the globe.
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What are the growth prospects and trends in the drone industry?
The market is mainly driven by the expansion of the military and defense industry and the growing demand for drones to access and analyze the movement of enemies and provide real-time information on target positions. Additionally, the growing demand for construction activities due to their ability to monitor property, prevent harmful accidents on construction sites, and provide continuous and accurate project alerts while increasing safety is contributing to market growth. Additionally, the integration of the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) into drones to store and manage large amounts of data represents another key growth driver. In addition, the growing use of drones in the agriculture industry to reduce costs, increase productivity, collect farm data, and automate repetitive tasks is giving a positive impetus to market growth. Moreover, the growing application of the product in disaster management to identify the affected areas facilitates the rescue of individuals and provides them with first aid kits, is also creating a favorable picture of the market.
What is involved in market segmentation?
Division by type:
- Fixed arm
- Rotary arm
Breakdown by component:
Split by load:
- <25 kilograms
- 25-170 kilograms
- > 170 kilograms
Distribution by point of sale:
- Original Equipment Manufacturers (OEM)
- After trading
Breakdown by end-use industry:
- Military and Defense
- Law enforcement
- Media and Entertainment
Distribution by geography:
- North America (USA and Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia and others)
- Latin America (Brazil, Mexico)
- Middle East and Africa
Who are the major players operating in the industry?
The report covers key market players including:
- 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
- The Boeing Company
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