New York, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Tethered Drone Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Quadcopter and Multicopter), Application (Inspection/Surveying/Mapping, Law Enforcement, Search & Rescue, and Others), and End User [Military and Commercial (Energy & Power, Media & Entertainment, Telecom, and Others)]” The global tethered drone market growth is driven by increasing demand for long operational ISR drones for military applications Development of tethered drones for commercial applications.
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| Market Size Value in | US$ 78.66 Million in 2022 |
| Market Size Value by | US$ 730.17 Million by 2028 |
| Growth rate | CAGR of 45.0% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 175 |
| No. Tables | 106 |
| No. of Charts & Figures | 84 |
| Historical data available | Yes |
| Segments covered | Type, Application, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
The rising demand for tethered drones for long term monitoring of critical infrastructures, such as shipping ports and road traffic control across cities, pushes tethered drone market players to develop such products for commercial applications. The individual ground monitoring systems lags in offering continuous relaying of monitored data. Thus, the demand for tethered drones have been on the rise in the recent years. Tethered drones provide continuous aerial monitoring that covers all the area of the port that facilitates in identifying any suspicious movement patterns and helps in tracking the movements across the restricted areas of the ports. Due to such benefits, the tethered drone market players are experiencing high demand for their products from shipping ports, which fuels the global tethered drone market growth.
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Tethered Drone Market: Competitive Landscape and Key Developments
Elistair, Acecore Technologies, ECA Group, Fotokite, Menet Aero, Hoverfly Technologies, Novadem, Sky Sapience, Skyshot Private Limited, and Yuneec Holding Ltd. are among the key tethered drone market players profiled in the report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which can help major market players strategize their growth.
- In 2022, Elistair, one of the pioneers in the tethered drone industry, has been awarded a framework agreement by the DGA (French Armament General Directorate) for the supply of ORION 2 tethered UAVs.
- In 2022, Hoverfly Technologies, Inc. announced the official opening of its new cutting-edge headquarters in Sanford, FL. The move to a new standalone facility has improved R&D, flight testing, and engineering, allowing LiveSky tethered UAS to be improved for government, security, and commercial customers.
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North America is expected to dominate the market in terms of tethered drone market share in 2022. The market in the region has been analyzed based on trends prevailing in the US, Canada, and Mexico. In US, tethered drones are used for military, law enforcement, and border security, which is an integral part of their remote security drone operations. The country is specifically using tethered drones for border security and Forward Operating Base (FOB) protection. To keep the defense sector technologically updated, the country is always seeking for advance tethered drones. For instance, in April 2020, US army was seeking to acquire tethered UAVs to laser-designate ground targets from stand-off distances. These tethered drones will help Army official to develop tactics, techniques, and procedures for the operation. This would propel the demand for tethered drones in the military sector.
With military applications, tethered drones are also used for monitoring gatherings and events, traffic management, and sports in the country. For instance, in August 2021, Elistair announced that its Orion 2 tethered drone was deployed by CloudCover for security at the Guns N’ Roses concert. Police at the University of Montana’s Washington Grizzly Stadium had access to a persistent aerial view of the stadium and surrounding area with the help of the drone. The drone also provided a direct view of the stadium grounds, both entry and exit points, as well as sales areas, car parks, and hiking trails on the mountains surrounding the University campus.
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Based on geography, the tethered drone market analysis is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Due to the rising adoption of tethered drones in North America, some companies are focusing on entering the North American tethered drone market or establishing their physical presence in the region. For instance, in September 2020, Elistair announced that it is opening its first North American office in Boston, US. The company has provided tethered drones for various events in the country. Through its new office, the company can offer close responsive support to its customers and strengthen the network of strategic partners on the continent. In addition, the use of the drones in the various commercial sector, including sports, power & energy, and agriculture, is rising tremendously, which is pushing the tethered drone market players to develop innovative products to meet the commercial end user demands across the global tethered drone market.
Many tethered drone manufacturers, such as Hoverfly Technologies, Elistair, Fotokite, and Yuneec Holding Ltd., are present in North America. The growing use of tethered drones for various application, including law enforcement, monitoring, and surveillance, is expected to support the growth of the North America tethered drone market.
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