Military Drone Market Size, Share, Growth Analysis, By Platform (Small, Tactical), By Application (UACVs, Delivery), By MTOW (151-1200 KG, >1200 KG), By Speed (Subsonic, Supersonic), By Type, By Operation Mode, By Launching Mode, By Propulsion, By Region - Industry Forecast 2025-2032


Report ID: SQMIG20A2280 | Region: Global | Published Date: December, 2024
Pages: 197 |Tables: 0 |Figures: 0

Military Drone Market Insights

Military Drone Market size was valued at USD 16 Billion in 2023 and is poised to grow from USD 18.1 Billion in 2024 to USD 42.99 Billion by 2032, growing at a CAGR of 13.15% during the forecast period (2025-2032).

Technological developments, an expanding application portfolio across numerous industries, and falling drone technology prices are some of the driving factors of the industry. Technological improvements have led to the development of drones with enhanced capabilities, longer flying periods, better cameras, and better obstacle avoidance systems. The result of this has been to expand their utility beyond mere taking pictures and videos to complex tasks in aerial photography, cinematography, infrastructure inspection, and monitoring in agriculture, among others. Besides, the military continued to embrace drones in their operations. Suppliers are manufacturing drones that can be applied for most commercial purposes. Drones are being utilized for a wide range of other purposes, including internet connectivity in rural areas, surveying and photographing wildlife, taking aerial photos and videos, and public service projects.

Military drone technology has advanced dramatically in recent years, with major advances in stealth, artificial intelligence (AI) and autonomous flight and swarm technology. AI has revolutionized military drone technology by enabling autonomous decision-making. Embedded with AI algorithms, drones are able to process large amounts of data in real time, making decisions in two seconds without human intervention. Swarm technology enables multiple drones to work together as a cohesive team. This innovation has important implications for military policy and strategy. These drones are built with special materials and designs that reduce their radar range, making them difficult to detect even with advanced radar systems.

Market snapshot - 2024-2031

Global Market Size

USD 12.9 billion

Largest Segment

rotary

Fastest Growth

hybrid

Growth Rate

11.2%

Global Military Drone Market ($ Bn)
Country Share for North America Region (%)

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Military Drone Market Segmental Analysis

Global Military Drone Market is segmented by Platform, Application, MTOW, Speed, Type, Operation Mode, Launching Mode, Propulsion and Region. Based on Platform, the market is segmented into Small, Tactical, Strategic.  Based on Application, the market is segmented into Unmanned Combat Aerial Vehicles, Intelligence, Surveillance, Reconnaissance, Delivery.  Based on MTOW, the market is segmented into <150 KG, 151-1200 KG, >1200 KG.  Based on Speed, the market is segmented into Subsonic, Supersonic. Based on Type, the market is segmented into Fixed Wing, Rotary Wing, Hybrid. Based on Operation Mode, the market is segmented into Remotely Piloted, Optionally Piloted, Fully Autonomous. Based on Launching Mode, the market is segmented into Vertical Take Off, Automatic Take Off and Landing, Catapult Launcher, Hand Launched. Based on Propulsion, the market is segmented into Fuel Powered, Battery Powered. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa. 

Analysis By Type

The rotary wing drones segment of the military drone market holds the largest proportion of all drone product categories due to its versatility and ease of usage. They are used for aerial photography, inspection, and surveillance. This is attributed to the virtue of vertical takeoff and landing. This ability to find applications across various industries shall be supported by their potential for flight within small areas and on uneven land. Drones are particularly valuable in the areas where fixed-wing-wing drones, which require having a long runway before take-off and landing is impractical. The ability to ride in the hovercraft allows real-time intelligence gathering and continuous monitoring of a specific area. In addition, they are deployed in search and rescue operations, delivering supplies to hard-to-reach areas and providing military visibility in the air.

The hybrid drones segment is the fastest growing. It accounts for the most sales. These are drones that combine abilities from a fixed wing and a rotary-winged drone. The adaptability of the hybrid drones makes these devices applicable in various industries, including logistics and delivery services, agricultural monitoring, environmental assessment, and distribution. This turns out to be in great need today, which has led to the rapid growth in the military drone market. Hybrid drones combine the strengths of fixed-wing and rotary-wing systems, providing longer flight times and greater versatility. These drones can fly and land vertically like rotary-wing drones and fixed-wing. The hybrid drone segment is gaining traction in the military drone market due to the ability to perform a variety of mission scenarios from remote reconnaissance to rapid response in dynamic combat situations with high model-specific speed and range.

Analysis By Application

The defense & security segment in the military drone market size holds the largest market share in terms of applications. Drones are used extensively in border control, public safety, and surveillance as they provide better situational awareness and real-time data. Although they are a vital tool for security and law enforcement operations, their speed and efficiency are insufficient to cover large areas. Defense and security are the biggest driver of the military drone market. Military drones are used for a variety of combat applications, including surveillance, intelligence gathering, reconnaissance (ISR). To carry out is to smuggle, patrol the borders and invest in the weapons zone for the purpose of increasing the terrorism own decision of independent decision.

The environmental monitoring segment within the application is growing at the fastest rate. This industry has grown due to the advantages of deploying drones for environmental applications such animal monitoring, forest management, and environmental impact assessments. They can now bypass difficult and inaccessible locations by using enhanced sensor technologies that enable them to gather accurate and detail-oriented environmental data. While safety is the number one attention, navy drones also are used for environmental surveillance, specifically in strategic regions with actual-time environmental records our environment are critical. Vehicles can hastily acquire information on the floor to offer comprehensive information of the situation.

Global Military Drone Market By Type

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Military Drone Market Regional Insights

North America dominated the market growth in 2023 and held a market share of 40.1%. This is attributed to the rapid adoption of drones in several commercial applications. Businesses in the area are using drones for land surveying, pipeline monitoring, infrastructure inspection, and agricultural monitoring. With their ever-improving capabilities and the regulatory support that countries such as the US and Canada have provided for commercial drone operations, drones are fast being adopted by businesses across many industries in the region. Further, appropriate policies have been drafted by the policy authorities within the U.S. for promulgating safe and responsible drone operations for the purpose of fostering innovation. This is because regulations have been drafted within Part 107 by the FAA of the US, while Transport Canada has also drafted similar regulations overseeing commercial operations by drones for ensuring safe compliance and operation for the business organizations for deploying drone technology in wide-scale applications.

The Asia-Pacific military drone market is significantly growing due to the ability for an increase in production at a reasonable cost and rate of growth. Deployments are growing fast across industries such as construction, mining, and agriculture. The rise is due to the rapidly industrializing nations such as China, Japan, and India and their respective investments in drone technology. Owing to high R&D expenses and government support in the form of regulatory guidelines, the drone manufacturing industry is in bloom in China. Due to this fact, the growth in its drone industry is massive. Another factor that will further help in growth in the military drone market of the country is that the government promotes domestic manufacturing and R&D in drone technology by initiatives such as the Production Linked Incentive plan and made in India campaign.

Global Military Drone Market By Geography
  • Largest
  • Fastest

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Military Drone Market Dynamics

Drivers

Growing Industry Development Requirement for Photographic Surveillance

  • As the use of drones in military operations becomes more widely accepted, suppliers are increasingly making drones that might be used for several commercial purposes. Drones are being employed in all areas of life, in agriculture above all, but also in environmental monitoring, and the fields of public services, rescue operations, and advertisement. Hundreds of enterprises produce small drones basically for agricultural use and for aerial images and data collection.

Growing Construction Sector

  • Drones are being frequently used in construction and for future buildings. For future construction, building managers can easily and expeditiously complete projects if drones are given that monitor the construction site and advance photography to inspect it. Many commercial buildings and industrial giants utilize drones fitted with thermal imaging cameras in emergencies to locate casualties that are invisible to the naked eye.

Restraints

Strict Regulations is Limiting the Market Growth

  • The primary obstacle preventing the military drone market from growing is the regulatory environment. As different countries have very different drone rules, it is challenging for drone makers to design systems that comply with several requirements. Moreover, at airports and other sensitive places, drone use is prohibited.

Concerns About Safety

  • The military drone market outlook is significantly hampered by the issues pertaining to user safety. There have been cases of drones crashing into other vehicles and aircraft, causing mishaps and damage to property. This is such a consideration on strong regulations already in effect in various countries that deal with safe drone operations or probably limit the same in certain situations.

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Military Drone Market Competitive Landscape

There are many companies operating in the highly fragmented global military drone market forecast. In the coming years, the global military drone market is expected to experience significant growth driven by the increased need for drones in a range of applications. The sector is crowded with competitors who use partnerships and new product development to gain market share.

Top Player’s Company Profiles

  • General Atomics Aeronautical Systems (United States) 
  • Northrop Grumman (United States) 
  • Boeing (United States) 
  • Kratos Defense & Security Solutions (United States) 
  • Israel Aerospace Industries (IAI) (Israel) 
  • Elbit Systems (Israel) 
  • Textron Systems (United States) 
  • Lockheed Martin (United States) 
  • AeroVironment (United States) 
  • BAE Systems (United Kingdom) 
  • Airbus (France) 
  • Leonardo (Italy) 
  • Thales Group (France)     
  • Kalashnikov Concern (Russia) 
  • Shenyang Aircraft Corporation (China) 
  • Chengdu Aircraft Industry Group (China) 
  • Aviation Industry Corporation of China (AVIC) (China) 
  • Yuneec International (China) 
  • DJI (China) 
  • Parrot (France) 

Recent Developments

  • In October 2023, the Skydio X10 came with Skydio NightSense, which allowed the drone to fly completely autonomously—with object avoidance—24/7 in low light. The X10 was the only drone out there that could run independently on its own, day or night. The NightSense attachment improves navigation cameras with its 360° view, making it ideal for high-EMI or GPS-denied locations where critical operations are needed.
  • In October 2023, Teledyne FLIR Defense announced the fourth-generation Black Hornet drone, which is as small as a palm. It is expected to offer enhanced wind resistance, obstacle avoidance, and even better battery and the sensor performance. There are five ultrasonic sensors that identify mirrors and glass and three navigation sensors that provide 270 field-of-vision.
  • In September 2023, the most recent sensor innovation from AgEagle Aerial Systems Inc., RedEdge-P dual, will be fully integrated into DeltaQuad's next-generation drone technology, the DeltaQuad EVO, which offers exceptional performance powered by advanced features, up to 270 km range, over four hours of flight time, dual payload bays, and advanced composites, offering government and commercial customers the most versatility and functionality.

Military Drone Key Market Trends

  • Technological Advancements in Drones: This fast-growing drone industry is always on the lookout for newer features and functionalities. The enhancement of drone batteries, cameras, sensors, and software has made the drones more efficient, reliable, and user-friendly. For example, artificial intelligence and machine learning have enabled some drones to complete complex tasks all by themselves.
  • Increased Autonomous Capabilities and Autonomous Drones: Military powered by means of gadget getting to know (ML) are a game changer in army operations. These drones can perform missions with minimum human intervention, decisions are made in seconds in the reconnaissance, goal acquisition and strike missions allow the actual-time evaluation and response to be changing battlefield conditions, reducing risks to human operators.

Military Drone Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest Analysis, the military drone market has grown rapidly in the past couple of years, and such growth is predicted to rise in the following years. Multiple factors are driving this industry, such as increasing demand for drones in various industries, technological changes that have been taking place in the drone industry, and their rising application in military and commercial uses. One of the key drivers of the global military drone market is the increasing usage of drones for both military and commercial applications. Drones are used by the military for surveillance, reconnaissance, and attack. They are used in mapping, surveying, agriculture, and infrastructure inspection for commercial purposes.

Report Metric Details
Market size value in 2022 USD 12.9 billion
Market size value in 2031 USD 33.9 billion
Growth Rate 11.2%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Platform
    • Small, Tactical, Strategic
  • Application
    • Unmanned Combat Aerial Vehicles, Intelligence, Surveillance, Reconnaissance, Delivery
  • MTOW
    • <150 KG, 151-1200 KG, >1200 KG
  • Speed
    • Subsonic, Supersonic
  • Type
    • Fixed Wing, Rotary Wing, Hybrid
  • Operation Mode
    • Remotely Piloted, Optionally Piloted, Fully Autonomous
  • Launching Mode
    • Vertical Take Off, Automatic Take Off and Landing, Catapult launcher, Hand Launched
  • Propulsion
    • Fuel Powered, Battery Powered
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
  • General Atomics Aeronautical Systems (United States) 
  • Northrop Grumman (United States) 
  • Boeing (United States) 
  • Kratos Defense & Security Solutions (United States) 
  • Israel Aerospace Industries (IAI) (Israel) 
  • Elbit Systems (Israel) 
  • Textron Systems (United States) 
  • Lockheed Martin (United States) 
  • AeroVironment (United States) 
  • BAE Systems (United Kingdom) 
  • Airbus (France) 
  • Leonardo (Italy) 
  • Thales Group (France)     
  • Kalashnikov Concern (Russia) 
  • Shenyang Aircraft Corporation (China) 
  • Chengdu Aircraft Industry Group (China) 
  • Aviation Industry Corporation of China (AVIC) (China) 
  • Yuneec International (China) 
  • DJI (China) 
  • Parrot (France) 
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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 Military Drone 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
  • 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 Military Drone 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
  • 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
  • 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(%)

Methodology

For the Military Drone 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 Military Drone 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 Military Drone Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Military Drone 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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FAQs

Global Military Drone Market size was valued at USD 12.9 billion in 2022 and is poised to grow from USD 14.5 billion in 2023 to USD 33.9 billion by 2031, growing at a CAGR of 11.2% during the forecast period (2024-2031). 

There are many companies operating in the highly fragmented global military drone market forecast. In the coming years, the global military drone market is expected to experience significant growth driven by the increased need for drones in a range of applications. The sector is crowded with competitors who use partnerships and new product development to gain market share. 'General Atomics Aeronautical Systems (United States) ', 'Northrop Grumman (United States) ', 'Boeing (United States) ', 'Kratos Defense & Security Solutions (United States) ', 'Israel Aerospace Industries (IAI) (Israel) ', 'Elbit Systems (Israel) ', 'Textron Systems (United States) ', 'Lockheed Martin (United States) ', 'AeroVironment (United States) ', 'BAE Systems (United Kingdom) ', 'Airbus (France) ', 'Leonardo (Italy) ', 'Thales Group (France)     ', 'Kalashnikov Concern (Russia) ', 'Shenyang Aircraft Corporation (China) ', 'Chengdu Aircraft Industry Group (China) ', 'Aviation Industry Corporation of China (AVIC) (China) ', 'Yuneec International (China) ', 'DJI (China) ', 'Parrot (France) '

As the use of drones in military operations becomes more widely accepted, suppliers are increasingly making drones that might be used for several commercial purposes. Drones are being employed in all areas of life, in agriculture above all, but also in environmental monitoring, and the fields of public services, rescue operations, and advertisement. Hundreds of enterprises produce small drones basically for agricultural use and for aerial images and data collection.

Technological Advancements in Drones: This fast-growing drone industry is always on the lookout for newer features and functionalities. The enhancement of drone batteries, cameras, sensors, and software has made the drones more efficient, reliable, and user-friendly. For example, artificial intelligence and machine learning have enabled some drones to complete complex tasks all by themselves.

North America dominated the market growth in 2023 and held a market share of 40.1%. This is attributed to the rapid adoption of drones in several commercial applications. Businesses in the area are using drones for land surveying, pipeline monitoring, infrastructure inspection, and agricultural monitoring. With their ever-improving capabilities and the regulatory support that countries such as the US and Canada have provided for commercial drone operations, drones are fast being adopted by businesses across many industries in the region. Further, appropriate policies have been drafted by the policy authorities within the U.S. for promulgating safe and responsible drone operations for the purpose of fostering innovation. This is because regulations have been drafted within Part 107 by the FAA of the US, while Transport Canada has also drafted similar regulations overseeing commercial operations by drones for ensuring safe compliance and operation for the business organizations for deploying drone technology in wide-scale applications.

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