What is the global market size of Drone Market?

Global Drone Market size was valued at USD 22.4 billion in 2022 and is poised to grow from USD 28 billion in 2023 to USD 166.70 billion by 2031, growing at a CAGR of 25% during the forecast period (2024-2031).

Who are the key vendors in the Global Drone Market?

The global drone market is highly fragmented, with the presence of several players operating in the market. companies are focusing on product launches, partnerships, and collaborations to expand their market presence and increase their revenue share. The global drone market is expected to witness significant growth in the coming years, driven by the increasing demand for drones in various applications. The market is highly competitive, with several players operating in the market and focusing on product launches and partnerships to expand their market presence. 'DJI (China)', 'Parrot SA (France)', 'GoPro, Inc. (US)', ' 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. ', ' Airware, Inc. ', ' FLIR Systems, Inc. ', ' Skydio, Inc. ', ' Walkera Technology Co. Ltd. ', ' MMC UAV ', ' Airbus '

Drone Market Size, Share, Growth Analysis, By Product(Fixed Wing Drone, Rotary Wing Drone, and Hybrid), By Application(Security, Search and Rescue, Environmental, Mining and Construction), By Type(Aerial, Terrestrial, and Under Water), By End user(Agriculture, Construction and Infrastructure Industry, Media and Entertainment, Logistics and Transportation), By Region - Industry Forecast 2025-2032

Q: What is the key driver of Global Drone Market?

The increasing adoption of drone deployment in military operations has propelled market players to produce drones that may be utilized in a variety of commercial applications. Drones are also being used for various purposes, such as providing internet access in rural areas, aerial photography and video recording, surveying and documenting animals, and public service missions. Several firms primarily provide tiny drones for agricultural, aerial photography, and data collecting purposes. Drone-assisted home deliveries have become a reality as a result of the efforts of logistics and retail organizations such as Amazon and UPS to implement the technology. As commercial drones can travel at speeds of up to 100 miles per hour and transport products weighing less than 5 pounds, the delivery mechanism is projected to reduce delivery time and related expenses. Increased investments in drone technology are also expected to drive long-term industry growth.

Report ID: SQMIG45K2054 | Region: Global | Published Date: August, 2024
Pages: 197 | Tables: 122 | Figures: 77

Drone Market News

In February 2024, Indian Startups Garuda Aerospace launched a nano drone, Droni, for the consumer photography and cinematography segment. Currently sold on e-commerce site Amazon, Droni is a small-sized foldable quadcopter weighing approximately 250 gm.
In January 2024, DJI launched a new delivery drone. The new DJI FlyCart 30 sees DJI officially enter the drone delivery market. FlyCart 30 has two delivery modes namely cargo/container and crane/winch. This new delivery drone can carry a maximum load of approximately 30kg for 16km with dual batteries.
In October 2023, a UAV startup, Amber Wings launched a hybrid drone, namely Atva. The drone has 10x faster flight time, durable battery, and diverse payload options.

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FAQs

Drone Market size was valued at USD 28 Billion in 2023 and is poised to grow from USD 35 Billion in 2024 to USD 208.38 Billion by 2032, growing at a CAGR of 25% during the forecast period (2025-2032).

The global drone market is highly fragmented, with the presence of several players operating in the market. The global drone market is expected to witness significant growth in the coming years, driven by the increasing demand for drones in various applications. The market is competitive, with several players operating in the market and focusing on product launches and partnerships to expand their market presence. 'DJI ', 'Parrot SA ', '3D Robotics, Inc. ', 'Yuneec International Co. Ltd. ', 'Ehang ', 'GoPro, Inc. ', 'Autel Robotics ', 'Kespry Inc. ', 'PrecisionHawk Inc. ', 'Parrot Drones SAS ', 'AeroVironment, Inc. ', 'Draganfly Innovations Inc. ', 'FLIR Systems, Inc. ', 'Skydio, Inc. ', 'Walkera Technology Co. Ltd. ', 'MMC UAV ', 'Airbus ', 'CDSPACE (South Korea) ', 'THANOS (India) ', 'DROGO DRONES (India)'

The increasing acceptance of drone deployment in military operations has prompted suppliers to produce drones that may be used in many commercial applications. Drones are also being used for various purposes, such as providing internet access in rural areas, aerial photography and video recording, surveying and documenting animals, and public service missions. Several firms primarily provide tiny drones for agricultural, aerial photography, and data collecting purposes. Drone-assisted home deliveries have become a reality because of the efforts of logistics and retail organizations such as Amazon and UPS to implement the technology. Because commercial drones can travel at speeds of up to 100 miles per hour and transport products weighing less than 5 pounds, the delivery mechanism is projected to reduce delivery time and related expenses. Increased investments in drone technology are also expected to drive long-term industry growth.

Increasing adoption of drones in the commercial sector: The commercial sector has been one of the key drivers of the growth of the drone market. Drones are increasingly being used for various applications, such as delivery services, surveying, inspection, and monitoring. For example, Amazon is using drones for package delivery, while companies like DJI are developing drones specifically for commercial applications such as agriculture and construction. Based on SkyQuest analysis, according to a report, in the first half of 2023, Asia-Pacific dominated global drone deliveries by 43%.

North America dominates the global drone market due to the presence of leading drone manufacturers and a high adoption rate of drone technology. The United States is the largest market for drones in the region, driven by the increasing demand for drone applications in the military, defense, and commercial industries. There has been presence of drone manufacturers and companies on a larger scale, simultaneously supporting research and development, signifies the North America’s leading position. Furthermore, government policies and basic funding for the drones in defense and commercial sectors contribute to the continuous innovations in drone technology within the region. In addition, the Federal Aviation Administration (FAA) has developed regulations to support the safe and legal use of drones in the United States.

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What is the global market size of Drone Market?

Who are the key vendors in the Drone Market?

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