WESTFORD, Mass., April 29,
2024 /PRNewswire/ -- SkyQuest projects that the
global drone market will attain a value of USD 166.70 billion by 2031, at a CAGR of 25% over
the forecast period (2024-2031). The global market has grown
significantly in recent years, with the adoption of drones in
various sectors such as agriculture, construction and security.
Advances in drone technology have resulted in drones with better
flight capabilities, longer battery life, greater payload capacity
and improved camera capabilities. Autonomous flight modes,
integrated obstacle detection and avoidance, and GPS navigation
make it easy and safe to use.
Download a detailed overview:
https://www.skyquestt.com/report/drone-market
Browse in-depth TOC on the "Drone Market"
- Pages - 197
- Tables - 66
- Figures - 75
Drone market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
USD 28
billion
|
Estimated Value by
2031
|
USD 166.70
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 25%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Type,
Application
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and the Rest of the world
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increasing use of
drones in security
|
Key Market
Drivers
|
Consumer adoption for
recreation and photography
|
Fixed Wing Segment to Dominate the Market Due to the
High-performance Design
The fastest growing segment of the global drone market is fixed
wing drones. Offering a high-performance design that mimics
aircraft, fixed-wing-wing drones offer unique capabilities such as
longer flight times and larger areas covered than their multirotor
matches. These drones collect high-quality data over larger areas
and their application at breadth is reflected in sizes mapping,
surveying and agriculture. Furthermore, where the coverage of a
large area is a priority, facilities and flying systems have been
enhanced and not if drones it has fixed wings is not only more
efficient but more efficient. These improvements have made them
more applicable under environmental conditions and more
reliable.
Multirotor Sector Segment to Lead the Market Due
to its Versatility and Ease of Operation
The multirotor segment accounts for the largest market segment
due to its versatility and ease of operation. Multirotor drones are
widely used because they can fly, occupy limited spaces and perform
maneuvers accurately. It is used in photography, visual effects,
and entertainment. The battery technology they have acquired
doesn't look like a mechanical if multirotor drones can not only
fly for long periods of time but also carry a wide range of
products from pesticides used in agriculture to the effects of car
accidents, this opens new possibilities in agriculture and other
industries.
North America Leading the Market Due to Rapid
Adoption
North America dominates the
global drone market due to the presence of leading drone
manufacturers and high adoption of drone technology in the US. The
Federal Aviation Administration (FAA) has developed regulations to
support drones use in the United
States without safe and legal use.
Europe is the fastest growing
region in the market. With the increasing adoption of drone
technology in various sectors such as agriculture, mining and
construction, Europe is growing
rapidly. France,
Germany and the United Kingdom are the top exporters of drones
in Europe.
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Drone Market Insights:
Drivers
- Increasing Applications across Industries
- Consumer Adoption for Recreation and Photography
Restraints
- Regulatory Challenges and Airspace Restrictions
- Safety Concerns and Accidents
Prominent Players in Drone Market
- 3D Robotics, Inc.
- Yuneec International Co. Ltd.
- Ehang
- Autel Robotics
- Kespry Inc.
- PrecisionHawk Inc.
- Aeryon Labs Inc.
- Parrot Drones SAS
- AeroVironment, Inc.
- Draganfly Innovations Inc.
- CyPhy Works, Inc.
- Airbus
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/drone-market
Key Questions Answered in Drone Market Report
- Which are the fastest growing segments of the drone
market?
- Which region has the highest share in the drone market?
- What are the emerging technologies shaping the future of the
drone market?
This report provides the following insights:
- Analysis of key drivers (increasing applications across
industries, consumer adoption for recreation and photography),
restraints (regulatory challenges and airspace restrictions, safety
concerns and accidents), opportunities (increasing use of drones in
security), influencing the growth of global drone market.
- Market Dynamics: Comprehensive information about the various
products offered by the dominant players in the global Drone
market.
- Product Development/Innovation: An overview of emerging trends,
R&D activities and product launches in the Drone market.
- Market Growth: Detailed information on profitable growing
industries.
- Market Trends: Complete information about new products,
emerging geographical areas and recent developments in the
market.
- Competitive Analysis: An in-depth analysis of the market
segments, growth strategies, revenue analysis, and products of the
key market players.
Related Reports:
Global Drone Sensor Market
Global Lidar Drone Market
Global Commercial Drone Market
Global Construction Drone Market
Global Delivery Drones Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology