Pune, India, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The global small drone market size was valued at USD 14.04 billion in 2022 and is expected to be worth USD 16.90 billion in 2023. The market is projected to be valued at USD 77 billion by 2030, recording a CAGR of 24.2% during the forecast period.
A small drone is also known as an Unmanned Aerial Vehicle (UAV) and is designed to take relatively short-range flights. This machine can be operated by a single person and is typically lightweight and has a low Maximum Weight Take-Off (MWTO). Small drones are also referred to as mini drones, micro drones, or nano drones. They are being increasingly used in several areas including aerial photography, defense, inspection of infrastructure, and surveying & mapping. These aspects will boost the small drone market growth.
Fortune Business Insights™ displays this information in a report titled, "Global Small Drone Market, 2023-2030."
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List of Key Players Profiled in the Small Drone Market Report:
- SZ DJI Technology Co. Ltd. (China)
- Parrot Drones SAS (France)
- AeroVironment Inc. (U.S.)
- Teledyne Technologies Incorporated (U.S.)
- Guangzhou Walkera Technology Co Ltd (China)
- Yuneec (China)
- Northrop Grumman Corporation(U.S.)
- BAE Systems (U.K.)
- Elbit Systems Ltd. (Israel)
- Turkish Aerospace Industries (Turkey)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 24.2% |
| 2030 Value Projection | USD 77 Billion |
| Market Size in 2023 | USD 16.90 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Small Drone Market Growth Drivers | Rising Product Demand from Defense Sector for ISTAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance) May Catalyze Market Growth |
| Increasing Demand for Aerial Surveying and Mapping to Boost Market Growth |
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Segments:
Rotary Wing Segment to Hold Dominant Market Position Due to Beneficial Characteristics
By type, the market is bifurcated into fixed wing, rotary wing, and hybrid wing. The rotary wing segment dominated the market share in 2022. A major reason for this is the beneficial properties of rotary wing drones such as lightweight design and flight stability. These features make them suitable for a variety of applications.
Growing Demand for Search & Rescue Operations and Industrial Inspections to Boost Demand for Drones with 5-25 kg Maximum Take-off Weight
By maximum take-off weight, the market is categorized into less than 5 kg, 5 – 25 kg, and above 25 – 150 kg. The 5 – 25 kg segment held the largest market share and is predicted to be the fastest growing segment during the forecast timeline. This is due to the growing demand for military and search & rescue operations and industrial inspections.
Demand for Higher Payload Capacities to Boost Adoption of Fuel Powered Drones
Based on power source, the market is classified into fuel powered and battery powered. The fuel powered segment held the biggest market share in 2022 as there is a robust demand for higher payload capacities.
Defense Sector to Use Small Drones to Inspect Military Operations
By end-use, the market is segmented into defense, consumer, commercial, and civil. The defense segment accounted for the largest market share and is anticipated to be the fastest growing segment as the demand for surveillance and monitoring solutions for military applications has risen tremendously in recent years.
Geographically, the market is divided into North America, Europe, Asia Pacific, and Rest of the World.
COVID-19 Impact:
Growing Demand for Contactless Deliveries and Medical Supplies for Healthcare Industry Boosted Market Growth During COVID-19
The COVID-19 pandemic played a key role in expanding the global market share. These drones were widely used to facilitate contactless delivery of goods and closely monitor compliance with social distancing measures. These machines were also utilized to deliver medical supplies and disinfect public areas to mitigate the risk of infection.
Russia-Ukraine War Impact:
Small Drones Widely Used During Russia-Ukraine War for Various Military Operations
The ongoing war between Russia and Ukraine has boosted the demand for small drones to conduct top secret military operations. Both the nations are using these drones to keep a close track of each other’s military operations and prepare their future war strategies accordingly. Both the countries’ defense ministries have increased their spending on advanced military technologies, such as small drones, thereby fueling their demand.
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Report Coverage:
The research report provides a detailed analysis of the market and covers major aspects such as R&D capabilities and optimization of operating services. The report also offers insights into the regional analysis, latest market trends, competitive landscape, porter’s five forces analysis, and covers key industry developments. Besides the above-mentioned factors, it focuses on many factors that have contributed to the market’s growth in recent years.
Drivers and Restraints:
Growing Product Demand for ISTAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance) in Defense to Boost Market Growth
Small UAVs are witnessing robust demand in the defense sector to offer situational awareness, conduct tactical missions, and gather valuable intelligence. Since these drones are quite versatile, they are being used for different military applications. They can also be used to gather information on enemy movements, monitor enemy positions, and conduct targeted strikes on enemy targets. These wide-ranging applications of small drones will boost the market growth.
Rising safety, privacy, and security concerns can hamper the market progress.
Regional Insights:
North America Dominated due to the Presence of Major OEMs
North America captured the largest market share in 2022 as the region has a vast presence of reputed OEMs and governments across the region are handing out big-budget contracts to expand and strengthen its military power.
Asia Pacific accounted for the second-largest small drone market share. The region is also anticipated to be the fastest growing region during the forecast timeline due to the notable demand for crop monitoring and surveying solutions in the agriculture sector.
Competitive Landscape:
Key Players to Focus on Product Developments and Technological Advancements
The market is fragmented with top players such as SZ DJI Technology Co. Ltd., Parrot Drones, AeroVironment Inc., Teledyne Technologies Incorporated, Guangzhou Walkera Technology Co., Ltd., and others. These companies are focusing on product innovations, technological advancements, and are planning to expand into emerging markets to boost their market share.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Impact of Russia Ukraine War & COVID-19 Pandemic on Global Small Drone Market
- Global Small Drone Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definition
- Market Analysis, Insights and Forecast – By Type
- Fixed Wing
- Rotary Wing
- Hybrid Wing
- Market Analysis, Insights and Forecast – By Maximum Take-off Weight
- Less than 5 Kg
- 5 - 25 Kg
- 25 - 150 Kg
- Market Analysis, Insights and Forecast – By Power Source
- Fuel Powered
- Battery Powered
- Market Analysis, Insights and Forecast – By End Use
- Defense
- Consumer
- Commercial
- Civil
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-pacific
- Rest of the World
- North America Small Drone Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Fixed Wing
- Rotary Wing
- Hybrid Wing
- Market Analysis, Insights and Forecast – By Maximum Take-off Weight
- Less than 5 Kg
- 5 - 25 Kg
- 25 - 150 Kg
- Market Analysis, Insights and Forecast – By Type
TOC Continued...!
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Key Industry Development:
March 2023 – The Finnish army purchased Parrot ANAFI U.S.A. micro-drones for USD 2.76 million. Boston Group Oy will deliver these drones to the Finland’s Defense Forces for training and exercise purposes. The Parrot ANAFI U.S.A. micro-drones are anticipated to improve the troops’ immediate information acquisition ability for activities, such as intelligence, surveillance, and targeting of troops & weapons of various defense branches across Finland.
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