Rockville, Dec. 14, 2022 (GLOBE NEWSWIRE) -- As per the latest industry analysis published by Fact.MR, the global small drone market is estimated to exceed US$ 5,193.5 million by the end of 2023, by growing at an impressive CAGR of 16.3% over the assessment period of 2023-2033.
Advancements in processing, sensor, and battery technology in the past few years have made the Unmanned Aerial System (UAS) smaller and more affordable. In particular, the readily available low-power, lightweight, low-cost sensor, based on micro-electromechanical system technology, fueled the development of UAS autopilot for military and civilian, academic research and leisure use.
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Small Unmanned Aerial Systems (UAS) have become the mainstay of modern military operations, providing critical intelligence, surveillance, and reconnaissance (ISR) to combat forces and decision-makers. A UAS, also known as an unmanned aerial vehicle (UAV) or drone, is a reusable aircraft that typically uses onboard sensors and processing to estimate current kinematic conditions and automatically control flight.
The potential use of small drones for commercial use across various end-use industries is gaining popularity. The different types of surveillance that are made possible due to the use of small drones are now increasing. All such factors will have a positive effect on the sales of small drones.
Key Takeaways from Study
- Global small drone market is poised to expand at a CAGR of 16.3% reaching the valuation of US$ 23,510.2 million by the end of 2033.
- On the basis of size, the market for micro drones is projected to account for 65% of the market share by 2023
- By end use vertical segment, logistics is likely to account for 20.2% of revenue share by obtaining a market value of US$ 1,048.0 million in 2023.
- North America region is expected to register a CAGR of 14.9% over the forecast period, to be valued at US$ 1,683.2 million by 2023 end.
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Market Development
Companies use value-added services to tailor their products to their end-user base. To maintain a unique selling proposition, prominent players have introduced innovations in accessories, introducing smaller drones with top-of-the-line technology and other features such as anti-collision and noise reduction.
In addition, most players also focus on technologies such as small automated drones and IoT-based advanced systems, which have emerged as important parts of the drone industry.
Competitive Landscape
Fact.MR profiled the following top companies in small drone market in its report are DJI , AeroVironment, Inc., AgEagle Aerial Systems Inc, Autel Robotics., Draganfly Innovations , Hubsan, Parrot Drone SAS., Skydio, Inc. , MICRODRONES, Fly-robotics, Drona Aviation Pvt Ltd , Yuneec Holding Ltd., Elbit Systems Ltd., and BAE System.
These top manufacturers of small drones are constantly developing innovative product designs to meet the modern challenges associated with component placement in harsh environments. Some prominent players follow a competitive market pricing strategy in the small drone market.
Companies have established constructive partnerships and collaborations with governments and end-user industries. The high demand for modern drones and accessories allows market participants to expand their product range. Market players are focusing resources and capital on research and development while trying to expand their regional base.
- In Dec 2020, BAE systems collaborated with UAVTEK developed a tiny nano bug size drone. Out the total nano bugs produced 30 units were provided to the British Army.
Fact.MR has provided detailed information about the price points of key manufacturers of small drone positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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Segmentation of Small Drone Industry Research
- By Size :
- Micro (6 inch)
- Nano (3 inch)
- By Wing Type :
- Fixed Wing
- Rotary Wing
- Hybrid Wing
- By Payload :
- less than 2 kg
- 2-5kg
- above 5 kg
- By End-Use Vertical :
- Agriculture
- Military and Government
- Energy
- Public Safety
- Insurance
- Healthcare
- Oil and Gas
- Logistics
- Recreational
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global small drone market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033. the study divulges essential insights on the market on the basis of size (micro (6 inch), nano (3 inch)), wing type (fixed wing, rotary wing, hybrid wing), payload (less than 2 kg, 2-5 kg, above 5 kg), end-use vertical (agriculture, military and government, energy, public safety, insurance, healthcare, oil and gas, logistics, recreational) and across six major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, The Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Drones Market- The global drones market is anticipated to reach US$ 30 Billion by the end of 2022, anticipated to experience an impressive 25% CAGR from 2022-2032 to reach US$ 279 Billion by the end of the aforementioned forecast period.
U.S. Drone Market-The U.S. drone market is projected to expand rapidly at 22.2% CAGR to reach a market valuation of US$ 82.9 billion by 2032, up from US$ 11.1 billion in 2022.
Small Drone Market- The small drone market is estimated to reach valuation of US$ 5,193.5 Million in 2023 and will top US$ 23,510.2 Million by 2033, growing with a CAGR of around 16.3% from 2023-2033.
Toy Drone Market - The global toy drone market will reach a valuation of US$ 417 million in 2023 and expected to progress at a CAGR of 8.6% to reach US$ 951.5 million by the end of 2033.
Target Drone Market- The target drone market is estimated to reach valuation of US$ 10,142.9 Million in 2023 and will top US$ 43,600.8 Million by 2033, growing with a CAGR of around 15.7% from 2023-2033.
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