The global drone market has experienced strong growth during the period 2015-2020. Looking ahead, IMARC Group expects the market to grow at a CAGR of around 17% during 2021-2026, according to the latest IMARC Group report.
A drone, also known as an unmanned aerial vehicle (UAV), refers to an unmanned aircraft that can fly autonomously or remotely controlled. 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.
Note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
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Global drone market trends:
Over the past decade, the deployment of drones in the military and defense sector has become one of the most important factors to support the growth of the market. These vehicles help survey the land, provide consistent and reliable topographic data, improve safety and avoid dangerous situations. On top of that, surveillance drones are used to track public activity around hot spot areas during closures imposed to curb the spread of coronavirus disease (COVID-19). Apart from that, integrating drones with the Internet of Things (IoT) has helped farmers monitor farmland and crops, energy companies study power lines and operational equipment, and insurers examine. properties for claims. Additionally, cost reductions and improvements in graphical visualization have led to increased demand for drones in the construction and real estate industries. Additionally, advancements in technology have allowed drone manufacturers to design variants with different shapes, sizes, and weights, making them useful in a wider application base. Market players are also focused on developing next-generation smart drones with built-in protections, compliance technology, self-monitoring and precise sensors.
- Based on type, the market has been segmented into fixed, rotary and hybrid fenders.
- On the basis of the component, the market has been separated into hardware, software and accessories.
- The market has been classified according to the payload in 170 kilograms.
- Based on the point of scale, the market has been divided into Original Equipment Manufacturers (OEMs) and Aftermarket.
- On the basis of end-use industry, the market has been divided into construction, agriculture, military and defense, law enforcement, logistics, media and entertainment, etc.
- Regionally, the market has been segmented into North America (United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Indonesia, Australia and others), Europe (Germany, France, Italy, United Kingdom, Russia, Spain and others), Latin America (Brazil, Mexico and others) and Middle East and Africa.
The report also analyzed the competitive landscape of the market with some of the major players being 3D Robotics, AeroVironment Inc, Birdseyeview Aerobotics Inc., Delair SAS, DroneDeploy Inc., Intel Corporation, Parrort SA, Precisionhawk Inc., SZ DJI Technology Co. Ltd . (iFlight Technology Co. Ltd.), Terra Drone Corporation, The Boeing Company, etc.
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