Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Global Tethered Drones Market - Market Size & Forecast to 2032" report has been added to ResearchAndMarkets.com's offering.
The global tethered drones market is estimated to reach USD 97.58 Million in 2023 and is expected to exhibit a CAGR of 4.30% over the forecast period 2023 to 2032.
Drones usage has drastically increased over the past few years. Up until recently, drones were mostly used in the defense sector. The game has changed now with leisure drones already selling in the millions. The development of small and cost-effective drones has led to a variety of uses that businesses and public institutions are starting to leverage to reduce risk, optimize processes and drive new forms of customer and societal value.
However, tethered drones, with their reliable power supply and well-maintained aerial stability, have a huge demand in areas where continuous aerial coverage over large areas is required. For instance, sectors such as law enforcement, public safety, private security, military, and crisis monitoring use tethered drones for reliable aerial coverage.
Using tethered drones to deliver essential medicines and to collect patient samples for COVID-19 testing is being widely promoted. In most cases, the deployment of new tethered drone projects for high frequency deliveries in response to the pandemic is still expected to face several important constraints.
It should also note that when some governments and local authorities instruct tethered drone experts to spray disinfectants to contain COVID-19, for example, these local experts may have no choice. Even then, however, if the relevant medicines to help treat COVID symptoms are unavailable, or if insufficient tests are available to test for the virus, then the added value of tethered drones may be limited.
Based on type, the market is segmented into military drones and commercial drones. The military drones segment made huge revenue in 2020 and growing its prominence during the forecast period. The most common use of tethered drones is to provide a persistent surveillance capability for situational awareness.
This may be used for military ISR (intelligence, surveillance and reconnaissance), event management and security, disaster response, traffic monitoring and a variety of other applications. Based on component, the market is segmented into battery, camera, controller system, ground power station, sensor and others.
Sensors dominated the market in 2021 due to its increased utilization in various types of drones thereby generating more revenue in the market. Based on application, the market is segmented into traffic monitoring and management, law enforcement, mapping, border surveillance, fob (forward operating bases) protection, tactical communications and others.
Traffic monitoring and management segment is expected to grow at a faster CAGR during the analysis period. Based on end user, the market is segmented into government & defence, commercial and telecommunication. Government & defence dominated the market in 2021 owing to its increased utilization for surveillance in border regions of many countries.
North America region is expected to have a high demand in the forecast period owing to huge technological advancements coupled with substantial investments made in the R&D sector. The rapid uptake of new technologies and investments by the government in the aerospace & defense sector are some of the major driving forces driving the market.
Additionally, the presence of well-established market players is fuelling the market growth. The resurgent economy in the region is playing a vital role in market growth by increasing the consumers' purchasing power. In particular, the US is the leader in producing defense drone systems, followed by Israel, and China is the leader in producing leisure units that tend to be used more for professional purposes.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 350 |
| Forecast Period | 2019 - 2032 |
| Estimated Market Value (USD) in 2019 | $81.49 Million |
| Forecasted Market Value (USD) by 2032 | $142.54 Million |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increased Applications in Agricultural Sector
- Rise in Investments in Aerospace and Defence Sector
Restraints
- Dearth of Skilled Professionals
Opportunities
- Technological Advancements
A selection of companies mentioned in this report includes
- Aerovironment Inc. Airbus Se
- Azur Drones
- Comsovereign Holding Corp
- Cyphy Works
- Dragonfly Pictures Inc. Drone Aviation
- Eca Group
- Elistair Sas
- Flir Systems Inc.
- Hoverfly Technology Inc.
- Sky Sapience Ltd.
- Yuneec International Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/30b9lf
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