Wilmington, Delaware, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Small Drones Market by Size (Microdrones and Nano drones), by Type (Rotary Wing and Fixed Wing), and by Application (Commercial, Recreational, and Defense): Global Opportunity Analysis and Industry Forecast, 2021 to 2030." According to the report, the global small drones industry to gain an estimate of $24.29 billion in 2030, having witnessed a value of $7.44 billion in 2020, with a compound annual growth rate (CAGR) of 13.16% from 2021 to 2030.
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Small Drones Industry-Leading Players:
- BAE Systems Plc.
- Teledyne FLIR LLC.
- Autel Robotics
- DJI Technology
- Elbit Systems Ltd.
- SkyDio
- AeroVironment Inc.
- Parrot SA
- 3DR
- Hubsan
This report offers an in-depth assessment of the major players in the global small drones market. They have taken various strategies, including the launch of new products, collaborations, expansions, joint ventures, and agreements, to gain their foothold in the market and remain dominant in various regions. The report serves to emphasize the competitive dynamics of the market, as well as the performance of the business, the top segments, the product portfolio, and the strategic moves of market participants.
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Prime Factors Influencing the Growth:
The global small drones market is experiencing growth due to the increase in demand for enhanced surveillance, and improved operational efficiency. On the other hand, strict drone regulations limit the market growth. Moreover, the developments in drone technologies bring remunerative new opportunities in the coming years.
The recreational segment to retain its lion's share throughout the forecast period-
By application, the recreational segment held the major market share in 2020, contributed to nearly half of the global small drones market revenue, and is expected to retain its lion's share throughout the forecast period. The growth is attributed to the high demand for recreational services like videography, photography, and delivery. On the other hand, the commercial segment is projected to display the fastest CAGR of 14.2% during the forecast timeframe. This is due to the increase in the number of deployments to enhance the performance of various commercial applications.
The rotary wing segment to maintain its leadership status throughout the forecast timeframe-
By type, the rotary wing segment garnered the largest share in 2020, holding more than 90% of the global small drones market revenue, and is projected to maintain its leadership status throughout the forecast timeframe. This is because rotary wing drones are in large demand for a variety of industrial applications across the world. On the other hand, the fixed wing segment is estimated to exhibit the fastest CAGR of 15.6% during the forecast period. This is due to there has been an increase in demand for high-flight range aircraft.
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North America garnered the major share by 2030-
By region, North America held the major market share in 2020, accounting for more than one-third of the global small drones market revenue, and is anticipated to dominate the market by 2030. This is due to a significant increase in research and development, technological advancement by leading players, and the rapid adoption of advanced technologies in the production of dependable, accurate, and efficient small unmanned aerial vehicles. Simultaneously, the Asia-Pacific region would portray the fastest CAGR of 14.9% from 2021 to 2030. The usage of unmanned aerial vehicles (UAVs) for surveillance and leisure activities is on the rise in specific nations, including China, India, and Japan.
Similar Reports We Have on Drone Industry:
Micro Drone Market Research Report 2023-2032
Commercial Drones Market Research Report 2023-2032
Military Drones Market Research Report 2023-2032
Nano UAV Drones Market Research Report 2023-2032
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