ROCKVILLE, Md., Feb. 24, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Drone market is projected to grow at a compound annual rate (CAGR) of 25% between 2022 and 2032. The market is expected to reach US$ 279 Bn by the end of 2032.
During the COVID-19 pandemic, the market for drones experienced multiple fluctuations. In certain industries such as manufacturing and hospitality, prospects significantly narrowed throughout 2020, attributed to cessation of all activity in these domains due to the imposition of lockdowns. However, drones became necessary for general surveillance purpose, especially to ensure that social distancing protocols were maintained.
From 2017 to 2021, the industry experienced an impressive incline at a CAGR of 23.5%. During the COVID-19 pandemic, prospects dimmed across certain sectors, including manufacturing and hospitality, while deployment for general surveillance purposes, especially to check whether individuals adhered to lockdown norms, increased dramatically.
For Critical Insights on This Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=62
The fatal mix of stealth capabilities and enhanced video imagery is providing developed-country militaries with drones capable of wreaking considerable harm on enemy territory. Emerging nations and war-torn areas, such as Syria, are innovating and employing cost-cutting techniques, such as the employment of cheap, commercial quadcopters outfitted with improvised and low-intensity explosives in their military operations.
Expanded Commercial Use Will Be a Major Opportunity in the Commercial Drone Market
Drones for future structures are becoming increasingly popular in the construction sector. Building managers will be able to meet project objectives more efficiently and quickly if sophisticated photography is used to scan construction sites and drones are used to follow activities throughout the construction lifecycle.
Many industrial conglomerates and corporate houses are using drones outfitted with thermal imaging cameras during emergency response to make contact with and identify casualties who are not apparent to the human eye. Similarly, hospitals are employing ambulance drones outfitted with defibrillators to provide prompt resuscitation to a patient in need. With climate change wreaking havoc on wildlife, conservationists are employing cutting-edge drone technology to monitor, track, and gather samples from endangered animals.
Rising popularity of commercial and business models leveraging drone technology will give the drone industry with precisely the necessary push, allowing stakeholders to lift their game in operational efficiency.
To learn more about Drone Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=62
Key Segments Covered in the Drone Industry Survey
Product
- Commercial Drone
- Military Drone
Payload
- Drones Upto 25 Kg
- Drones from 25 Kg - 150 Kg
- Drones from 150 Kg - 600 Kg
- Drones Above 600 Kg
Application
- Aerial Surveying & Photography Drones
- Agriculture Drones
- Construction Drones
- Film and Television Drones
- Border Security Drones
- Combat Operations Drones
- Search and Rescue Drones
Competitive Landscape
The drone business is expanding rapidly, with industry leaders like as DJI and Parrot pursuing autonomy in all of their drone features and functions. Frontrunners in the drone sector appear to be focusing on R&D and collaborative collaborations.
- DJI Technology Co. Ltd, a Chinese business, continues to dominate the drone industry landscape across all drone product categories, including software, drone aircraft, and payload. Its brisk growth can be ascribed to its unique product development and enterprise channel relationships.
- For example, in 2018, the corporation produced two enterprise drone products aimed at the industrial space, known as the Phantom 4 RTK and the Mavic 2 Enterprise
Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=62
Key players in the Drone Market
- SZ DJI Technology Co Ltd
- 3D Robotics Inc.
- Aerovironment Inc.
- BAE Systems, Inc.
- Elbit Systems, ltd.
- General Atomics
- Israel Aerospace Industries
Key Takeaways from the Market Study
- By the end of 2022, the market is projected to achieve a global market size of US$ 10.01 Bn.
- Globally, North America accounted for over 33.5% of revenue in 2022.
- Hardware based Drone systems to dominate the market in 2022, with a revenue share of over 40.5%
- More than 38.4% of market revenue was generated by the electronic signatures segment in 2021
- Over 55.5% of the market revenue in 2022 will be accounted for by large enterprises.
Explore Fact.MR's Coverage on Automotive Domain-
Automotive Paint Robots Market Trend: The global automotive paint robots' market report published by Fact.MR delivers a detailed segmentation on the prominent growth dynamics, including possible drivers, opportunities and challenges, expected to prevail across the landscape for the upcoming decade. A detailed insight regarding key geographies and prominent manufacturers has been embedded in this report.
Bucket Trucks Market Forecast: Explore Fact.MR's Bucket trucks market research report, offers a detailed segmentation on multiple market trends for the present and upcoming decade. The study entails analyses about the prominent growth trends present across key geographies and major segments, along with information about key manufacturers operating within the landscape.
Lift Trucks Market Analysis: Fact.MR's incisive coverage on the global lift trucks market gives an in-depth insights on the unique strategies and competitive landscape for the upcoming period. The key players' market share data provided by the report given you a detailed insights on the shortcomings and forthcomings of the market through 2021 & beyond across key geographies.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Tel: +1 (628) 251-1583
