The latest report by IMARC Group, titled “ Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the global drones market Report. The global market size reached US$ 27.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 59.2 Billion by 2032, exhibiting a growth rate (CAGR) of 10.84% during 2024-2032.
Drones, also known as unmanned aerial vehicles (UAVs), have emerged as transformative tools in various industries. These remotely operated aircraft have found widespread applications in fields ranging from agriculture and logistics to defense and surveillance. They come in various shapes and sizes, equipped with advanced technologies such as GPS, cameras, sensors, and data analysis software. The versatility and efficiency of drones have made them indispensable assets in today’s fast-paced global business landscape.
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Drones Market Trends and Drivers:
One of the primary drivers of the global drones market is their ability to reduce operational costs while enhancing productivity. They provide real-time data on crop health, enabling farmers to optimize resource allocation and increase yields. In the logistics sector, drones are being used for last-mile delivery, cutting delivery times and costs. In addition, security concerns are pushing businesses to invest in drone technology. In the field of surveillance and security, drones offer a cost-effective solution for monitoring large areas, critical infrastructure, and borders. They can be equipped with advanced imaging systems and facial recognition software, enhancing their effectiveness in law enforcement and public safety. Besides, sustainability is a growing concern for businesses globally. Drones are playing a crucial role in minimizing environmental impact. In industries like oil and gas, drones are used for pipeline inspections, reducing the need for manual labor and minimizing ecological disruption. Furthermore, their use in wildlife conservation helps in monitoring and protecting endangered species without disturbing their habitats. Moreover, the market is witnessing continuous technological advancements. Artificial Intelligence (AI) and machine learning algorithms are being integrated into drone systems, enabling autonomous decision-making and data analysis. These advancements are driving businesses to explore new applications and improve existing ones.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Fixed Wing
- Rotary Wing
- Hybrid
Breakup by Component:
- Hardware
- Software
- Accessories
Breakup by Payload:
- <25 Kilograms
- 25-170 Kilograms
- >170 Kilograms
Breakup by Point of Sale:
- Original Equipment Manufacturers (OEM)
- Aftermarket
Breakup by End-Use Industry:
- Construction
- Agriculture
- Military and Defense
- Law Enforcement
- Logistics
- Media and Entertainment
- Others
Breakup by Region:
- North America (U.S. & Canada) Europe (Germany, United Kingdom, France,
- Italy, Spain, Russia, and Others) Asia Pacific (China, India, Japan, South
- Korea, Indonesia, Australia, and Others) Latin America (Brazil, Mexico)
- Middle East & Africa
Competitive Landscape:
- 3D Robotics
- AeroVironment Inc
- Birdseyeview Aerobotics Inc.
- Delair SAS
- DroneDeploy Inc.
- Intel Corporation
- Parrot SA
- Precisionhawk Inc.
- SZ DJI Technology Co. Ltd. (iFlight Technology Co. Ltd.)
- Terra Drone Corporation
- Boeing Company
Recent Developments:
- In July 2023, Currawong Engineering stated that it will continue its relationship with AeroVironment Inc. by giving the company’s JUMP-20 unmanned aircraft system (UAS) the upcoming batch of High-Performance Velocity Electronic Speed Controllers (ESC).
- In October 2022, DroneDeploy Inc. acquired StructionSite to integrate aerial and ground-based capture. It integrates the two aerial and ground capture solution providers into a single platform, enabling users to deploy drones, ground robots, and handheld 360-degree cameras to record their locations with ease.
- In August 2023, Parrot SA stated that it will decrease its employment by about 20% and discontinue buying components from China. Despite weak drone sales, the corporation aims to scale back on its financial outlays.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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