Dublin, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The "Multirotor Drone Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global multirotor drone market is on an impressive growth trajectory, with projections indicating substantial expansion. From $2.99 billion in 2022, it is expected to surge to $3.53 billion in 2023 at an impressive compound annual growth rate (CAGR) of 18.2%.
Looking ahead, the market is poised for even more remarkable growth, projected to reach a substantial $6.85 billion by 2027, maintaining a robust CAGR of 18%. This growth is driven by the increasing adoption of multirotor drones in various industries, offering a wide range of applications and benefits.
From quadcopters and hexacopters to tricopters and octocopters, these versatile drones are being utilized for diverse purposes, such as pipeline and infrastructure inspections, crop monitoring in agriculture, and much more.
Moreover, the integration of advanced technologies like artificial intelligence and machine learning has elevated their capabilities, incorporating features like face recognition, fifth-generation network technology, and biological detection for enhanced threat identification and suggestive action. As multirotor drones continue to revolutionize industries and serve various sectors, their market growth is set to soar in the coming years.
Major companies operating in multi-rotor drone are developing new technologies to sustain their position in the market. For instance, in January 2022, Advanced Aircraft Company, a US-based developer, and manufacturer of hybrid fuel-electric unmanned aircraft systems for defense applications, launched Hybrid-Electric HAMR UAS.
The system has a multi-rotor design and a hybrid gas-electric propulsion system. The aircraft always receives the correct amount of gasoline since fuel injection is computer controlled. The mechanism automatically injects additional fuel during take-off and then leans out during flight, resulting in a more fuel-efficient long-endurance drone. It has an aerodynamic frame design as well.
North America was the largest region in the multirotor drone market in 2022. The countries covered in the multirotor drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Increasing adoption of the multi-rotor by military bodies is expected to propel the growth of the multirotor drone market. Military bodies refer to the personnel involved in security forces to contain terror and counter the emerging challenges in defense and homeland security. Multi-rotors help in security and terrorism-related challenges and enhance the capabilities of security forces to stop terror. They help under various situations, from damaging the target to identifying unreachable locations.
For instance, in May 2022, according to the US Department of Defense, the Switchblade 300 drone was created and constructed by AeroVironment, a US-based UAV manufacturing company for the US armed forces during the Russia-Ukraine war. Furthermore, according to a fact sheet issued by Whitehouse.gov in March 2022, the United States announced the provision of 100 tactical unmanned aerial systems to Ukraine as part of an $800 million military aid package. Therefore, increasing adoption of the multi-rotor by military bodies is driving the multirotor drone market.
The multirotor drones market consists of sales of battery, fuel, rotors, propellers, frame, transmitter, receiver, radio transmitter. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $3.53 billion |
| Forecasted Market Value (USD) by 2027 | $6.85 billion |
| Compound Annual Growth Rate | 18.0% |
| Regions Covered | Global |
Major players in the multirotor drone market are
- IdeaForge Technology Pvt. Ltd.
- AeroVironment Inc.
- SZ DJI Technology Co Ltd.
- Autel Robotics
- Draganfly Inc.
- Microdrones GmbH
- Parrot Drone SAS
- Australian UAV Pty Ltd.
- Aero Systems West Inc.
- Centeye Inc.
- Embention Sistemas Inteligentes SA
- 3D Robotics Inc.
- Yuneec International
- EchoBlue Ltd.
- Skydio Inc.
- Delair
- Elbit Systems Ltd.
- Aerix Drone
Key Topics Covered:
1. Executive Summary
2. Multirotor Drone Market Characteristics
3. Multirotor Drone Market Trends And Strategies
4. Multirotor Drone Market - Macro Economic Scenario
4.1. COVID-19 Impact On Multirotor Drone Market
4.2. Ukraine-Russia War Impact On Multirotor Drone Market
4.3. Impact Of High Inflation On Multirotor Drone Market
5. Multirotor Drone Market Size And Growth
5.1. Global Multirotor Drone Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Multirotor Drone Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Multirotor Drone Market Segmentation
6.1. Global Multirotor Drone Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Quadcopters
- Hexacopters
- Tricopters
- Octocopters
6.2. Global Multirotor Drone Market, Segmentation By Payload, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Camera And Imaging Systems
- Control Systems
- Tracking Systems
- Other Payloads
6.3. Global Multirotor Drone Market, Segmentation By Price Range, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Budget
- Medium
- Premium
6.4. Global Multirotor Drone Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Surveillance, Inspection, and Monitoring
- Mapping And Surveying
- Aerial Photography
- Other Applications
6.5. Global Multirotor Drone Market, Segmentation By End-users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Military And Government
- Consumer
7. Multirotor Drone Market Regional And Country Analysis
7.1. Global Multirotor Drone Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Multirotor Drone Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/pokdsl
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