USD 8.20 billion
Drone Payload Market Size, Share, Growth Analysis, By Type (Electro-Optic/Infrared Sensor, Cameras), By End User (Defense, Commercial), By Region -Industry Forecast 2024-2031.
Report ID:
SQMIG20D2258 |
Region:
Global |
Published Date: November, 2024
Pages:
197
|Tables:
71
|Figures:
77
Drone Payload Market Insights
Global Drone Payload Market size was valued at USD 8.20 billion in 2022 and is poised to grow from USD 9.54 billion in 2023 to USD 31.92 billion by 2031, growing at a CAGR of 16.30% during the forecast period (2024-2031).
The drone payload market is booming due to several key factors. First off, the overall growth of the drone market itself is driving demand. Add to that an increasing need for better surveillance capabilities and the expanding market for location-based services, and you have a recipe for rapid expansion. Various technologies like GPS, LiDAR, and mapping services are finding more applications, further boosting the demand for drone payloads. Moreover, continuous advancements in drone technology are making drones more versatile and efficient, making them even more appealing for various applications. Additionally, with the global rise in defense spending, governments are investing heavily in drones to enhance their surveillance capabilities, especially in response to the growing threats of terrorism and security concerns worldwide.
One of the key drivers behind the improved surveillance capabilities of drones is the development of advanced payloads. There's a growing demand for drones instead of manned aircraft because they're cheaper to operate. These payloads, which include high-resolution cameras like those from DJI Technology, Autel Robotics, and Aeryon Labs Inc., along with various sensors and devices, enable drones to perform a wide range of tasks, including covert operations, nighttime flights, and operations in various terrains. These advantages have caught the attention of governments worldwide, prompting them to increase their spending on the purchase and development of numerous drones. For example, in March 2021, Elbit Systems Ltd. made a substantial investment of $300 million to provide an Asian nation with Hermes 900 unmanned aircraft systems, showcasing the significant scale of investment in this sector on a global level.
However, there are some limitations with how payloads are designed, which could slow down the market's growth. Still, as more businesses use drones and they're used for delivering packages and mail, there are big opportunities for companies in this market to make a lot of money.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Camera and Sensors
Fastest Growth
EO/IR
Growth Rate
16.30% CAGR
Global Drone Payload Market ($ Bn)
Country Share for North America Region (%)
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Drone Payload Market Segmental Analysis
Global Drone Payload Market is segmented into Type, End User, and region. By Type, the market is classified into Electro-Optic/Infrared Sensor, Cameras, Synthetic Aperture Radar (SAR), Signal Intelligence (Sigint), Electronic Intelligence (Elint), Communication, Intelligence (Comint), Maritime Patrol Radar (MPR), Laser Sensors, CBRN Sensors, Electronic Warfare (EW), and Optronics. Depending on the End User, it is categorized into Defense, and Commercial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Analysis By Type
The largest segment in this market is cameras and sensors. These payloads are widely used for various purposes like surveillance, mapping, and environmental monitoring. They provide important data for decision-making and are essential for many drone applications.
The fastest-growing segment is EO/IR payloads. They are in high demand for applications like surveillance, search and rescue, and military operations because they provide clear images even in low light or adverse weather conditions. As the need for advanced imaging capabilities increases, the demand for EO/IR payloads is expected to grow rapidly in the coming years.
Analysis By Application
The largest segment in this market is defense. Drones are extensively used in defense for surveillance, reconnaissance, and intelligence gathering. They provide valuable information to military personnel while keeping them safe from potential dangers.
The fastest-growing segment is agriculture & environment. Drones equipped with specialized payloads like cameras and sensors are increasingly used in agriculture for tasks like crop monitoring, pest control, and irrigation management. In the environmental sector, drones are used for tasks such as wildlife monitoring, habitat mapping, and environmental assessments. As the need for precision agriculture and environmental monitoring grows, the demand for drone payloads in this segment is expected to rise rapidly.
Global Drone Payload Market By Type
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Drone Payload Market Regional Insights
The dominating region in the global drone payload market is North America, with almost 40% of the market share. North America, especially the United States, is a big center for drone technology. In the United States alone, there are about 685 businesses that deal with drones. The U.S. military and various industries use drones for things like watching over areas, farming, and delivering goods. The drone industry in North America is made up of many different companies, and some of the big ones include BirdsEyeView Aerobotics, DJI, Intel, and Drone Delivery Canada. In the future, more big companies like Alphabet and Intel are expected to join the commercial drone industry, which will add to the variety of companies in the market.
Asia-Pacific has been the fastest growing market in Drone Payload. In the Asia-Pacific region, China is a major player in the drone world. They make lots of different drone parts and use drones for all sorts of things, both in China and around the world. India is also looking into using drones for farming, managing disasters, and watching over things. The government is making rules to help the drone industry grow, including making better payloads. In Australia, drones are used for farming, mining, and finding people in emergencies. The drone industry in the Asia Pacific region is growing because countries like China and India are spending more on military drones and their payloads. Not only are their military needs increasing, but their civilian markets for drones are also expected to grow. Other countries in the region, like Japan, South Korea, and Indonesia, are also investing in drone research and making their own drones. This shows that the drone industry in Asia Pacific is expanding both for military and civilian purposes, with various countries supporting the development and production of drones. As these uses grow, so does the market for drone payloads.
In Europe, countries in the European Union are also using drones for different reasons, like farming, keeping an eye on the environment, and watching over things. Rules for how drones can be used are changing, which affects how much the payload market grows. Europe is predicted to grow at a CAGR of over 12% during the forecast period.
Global Drone Payload Market By Region
- Largest
- Fastest
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Drone Payload Market Dynamics
Drivers
Increased Industrial Growth
- The use of drones is growing rapidly because they're being used in more and more ways. Initially, the military was the main user of drones, but now other industries like agriculture, construction, mapping, logistics, and surveillance are also using them. In particular, the logistics industry is finding new ways to use drones. Some companies are already testing using drones to deliver packages. Drones can deliver goods faster than trucks or other road transport, which is why they're becoming popular in logistics.
Rising Need for Enhanced Monitoring
- The drone payload market is growing because more people want better monitoring. Drones help security teams watch over things more quickly and effectively. For instance, in the US, the number of monitoring cameras increased from 70 million in 2018 to around 86 million in 2021, according to the Bureau of Labor Statistics. That's a 21% increase, showing how the demand for better monitoring is pushing the drone payload market to grow.
Impact of the E-commerce Sector
- The booming e-commerce industry is set to fuel the expansion of the drone payload market. As online shopping grows, there's a greater demand for quick and efficient delivery, especially for the last mile. Drones are great for this because they can bypass traffic and deliver packages directly to customers. For instance, by 2024, e-commerce sales, excluding consumer goods, are expected to make up around 22% of all retail sales worldwide, growing by over 1% annually. This trend indicates a steady increase in global retail e-commerce sales, driving the growth of the drone payload market.
Increased Government Expenditure
- Because of the growing threat of terrorism and increased worries about security all over the world, governments are spending more money on drones to improve their surveillance capabilities. Drones can do things like operate secretly, work at night, and go anywhere while carrying cameras like the ones made by DJI Technology, Autel Robotics, and Aeryon Labs Inc., as well as other sensors and equipment. These advantages have made governments invest more in buying and developing lots of drones worldwide. For example, in March 2021, Elbit Systems Ltd. agreed to sell $300 million worth of drones to a country in Asia called Hermes 900 unmanned aircraft systems.
Restraints
Limitations and Regulations for Commercial Drone Payload Usage
- There are many rules and regulations that restrict how drones, and their payloads can be used for commercial purposes. These rules are in place to ensure safety and privacy. For example, drones typically can't fly near airports, over crowds of people, or above certain heights without special permission. Additionally, there are rules about how drones can be used for things like filming or delivering packages. These regulations help prevent accidents and protect people's privacy, but they can also limit the ways businesses can use drones for their operations.
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Drone Payload Market Competitive Landscape
The global drone payload market features both large established players and smaller emerging companies to offer a wide range of payload options. Companies like DJI Technology, Autel Robotics, and Aeryon Labs Inc. provide high-resolution cameras and sensors for surveillance and mapping purposes. Other major players include FLIR Systems, Lockheed Martin Corporation, and Northrop Grumman Corporation, offering specialized payloads for defence and military applications. Emerging players like Parrot SA and Yuneec International are also gaining traction with innovative payload solutions. Overall, competition in the market is intense, with companies constantly striving to develop advanced payloads to meet the diverse needs of industries such as agriculture, construction, logistics, and law enforcement.
Top Player’s Company Profile
- BAE Systems PLC.
- Elbit Systems Ltd
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Aerovironment, Inc.
- Thales Group
- Israel Aerospace Industries
- Parrot SA
- SZ DJI Technology Co. Ltd
- 3D Robotics, Inc.
- Boeing Defense, Space & Security
- General Atomics Aeronautical Systems
- Textron Systems
- Saab AB
- AeroVironment, Inc.
- FLIR Systems (Teledyne)
- Leonardo S.p.A
- Kratos Defense & Security Solutions
- Turkish Aerospace Industries (TAI)
- EHang Holdings Ltd.
Recent Developments
- On January 2024, DJI has released its new delivery drone called the DJI FlyCart 30 worldwide, including in the UK. The FlyCart 30 has two delivery modes: cargo/container and crane/winch. This new drone can carry up to 30 kilograms of weight for 16 kilometres using two batteries.
- On November 2023, ABZ Innovation, a company based in Hungary, has introduced a new drone for spraying crops. This drone can carry 30 liters of pesticides in one flight. It runs on a 25000mAh battery and is meant for farms that are around 80 to 100 hectares in size. The drone can cover up to 21 hectares of land in one hour. It has a maximum flow rate of 16 liters per minute and comes with a spraying system that includes a brushless pump, impellers, and a three-stage filter system.
- In October 2023, Optiemus Infracom, a company that makes electronics and telecom products, has started making its own drones in India. They showed off their drones at the India Mobile Congress 2023, which have advanced technology and safety measures. They're investing Rs 250 million in Optiemus Unmanned Systems (OUS) to focus on researching, developing, and making drones.
- In December 2023, KULR Technology Group and ParaZero entered a working strategic partnership to improve drone safety and performance. They're combining KULR VIBE's software with ParaZero's SafeAir and SmartAir Trinity solutions to make a better product. The goal is to enhance drone performance, make operations more efficient, and boost safety standards in the industry. The focus of this partnership is safety. ParaZero's SafeAir system uses real-time data and sensors to spot and handle flight risks, making drones safer for people nearby and preventing damage or loss of expensive equipment. Additionally, they're working on controlling vibrations in helicopters and high-performance drones to ensure safe and successful missions.
- In January 2024, the Emirati defense company EDGE Group announced a partnership with drone manufacturer Baykar. They plan to equip Baykar's unmanned aerial vehicles (UAVs) with Emirati payloads. As part of the deal, EDGE will add its DESERT STING 16 "precision-guided munition" to Baykar's TB2 drone, which gained attention during the early stages of the conflict in Ukraine. A video released by EDGE showed one missile already attached to a TB2 drone.
Drone Payload Key Market Trends
- Technological Advancements: In the drone payload market, companies are using new technology to stay competitive. Companies are introducing new drones that use artificial intelligence (AI). Microsoft and DJI say that AI-powered drones can be used in many ways. For instance, businesses with big warehouses can use these drones to quickly check their inventory. Real estate companies can use them to inspect buildings for damage like cracks, holes, and rust. These new drones with AI are expected to become more popular in the future, which will help boost the use of drone payloads. For instance, in June 2021, Parrot SA, a French company, introduced ANAFI AI, a drone with advanced features. It's the first drone to use 4G for communication with the operator. The drone also has an obstacle avoidance system that uses stereo cameras to detect and avoid obstacles in all directions automatically. This launch is a big deal for both Parrot and the drone industry, bringing new capabilities to their product lineup. Overall, these advancements will have a positive impact on the global market.
Drone Payload Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global drone payload market analysis, there are several factors which shape the path of Drone Payload Market. The global market is poised for dynamic growth due to these reasons. Drone payload items are becoming more popular across various sectors like agriculture, government, energy, construction, and military. This is because they are affordable, modern, and supported by favorable government laws. There's a growing demand for payload products in environmental and agricultural applications, like estimating soil productivity, monitoring crop health, and conserving forests and water resources. The use of camera and sensor payloads holds the major share and is also expected to increase for tasks such as aerial imaging, geospatial services, and surveillance due to their expanding applications. North America continues to be the largest market, while the Asia-Pacific region is experiencing rapid growth. One significant trend is the advancement of technology, particularly in Artificial Intelligence (AI). The drone payload market is predicted to grow significantly due to the overall growth of the drone market and the development of more advanced payload systems. Key players in the industry are introducing new technologies that are expected to create lucrative opportunities for market expansion. For example, in March 2021, Elbit Systems Ltd. introduced a next-generation Advanced Multi-Sensor Payload System (AMPS NG) that includes shortwave infrared (SWIR) technology alongside existing day CCD TV sensors.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.20 billion |
| Market size value in 2031 | USD 31.92 billion |
| Growth Rate | 16.30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Drone Payload Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Drone Payload Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Drone Payload Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Drone Payload Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Drone Payload Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Drone Payload Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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