Increasing need for life threatening military & defense applications followed by increasing adoption of small drones for photography is expected to provide potential opportunities over the coming years.
The global small drones market size was valued at >USD 16.0 billion in 2019. In addition, it is projected to gather a CAGR of above 16% over the forecast years 2020-2028. Increasing adoption of small drones against terrorism, rising need for enhanced security in military & defense sector, and increasing spending on small drones for commercial applications is expected to increase its market reach over the forecast period. However, stringent government regulations in developed as well developing economies followed by shortage of skilled workforce to handle advanced drone technology is expected to be the key market restraint.
The global small drones study also outlines the various aspects of the global small drones industry by evaluating the market from porter’s five forces analysis, PESTEL analysis, and value chain analysis. Moreover, the small drones market report encompasses various qualitative factors such as market restraints, market drivers, opportunities, key market trends, and COVID impact on small drones industry. Additionally, the small drone market study offers a complete valuation of the market competition through company profiles of the leading global and domestic manufacturers operating in this industry.
The small drones market is expected to face strong competition amongst the already operating well-established manufacturers and new market entrants. Also, by joining mergers & acquisitions, alliances, acquisition of other firms, and creating alliance & collaborations, the small drone industry manufacturers are looking for possible markets to take a competitive gain over the other manufacturers existing in this sector. For instance, in Sept 2020, U.S. Department of Defense is planning to buy American produced small drones from companies.
North America dominated small drones market in 2019. Presence of well-established commercial small drones manufacturers followed by rising defense spending in U.S. and Canada is expected to drive small drones market. Asia Pacific is expected to be the fastest growing region by virtue of increasing demand for small drones in commercial applications in India, China, Japan, and Southeast Asia. Japan is expected to dominate Asia Pacific small drones market in 2019 by virtue of presence of major drone manufacturing companies.
The global small drones industry has large number of well-established manufacturers and small & medium scale manufactures. Key companies operating in this industry are 3D Robotics, Microdrones, Thales, Aerovironment, Turkish Aerospace Industries, Northrop Grumman, Saab, Aeronautics, Israel Aerospace Industries, Raytheon, DJI, Lockheed Martin, Parrot, Elbit Systems, Boeing, and Textron. Manufacturers operating in this industry are adopting merger & acquisition, new product development, technological advancement, research & development, and facility expansion in order to form strategies to increase their customer base.
Key Segments of the Global Small Drones Market
Type Overview, 2018-2028 (USD Billion)
- Fixed Wing
- Rotary Wing
Application Overview, 2018-2028 (USD Billion)
- Civil & Commercial
- Homeland Security
Power Source Overview, 2018-2028 (USD Billion)
- Solar Cell
- Fuel Cell
- Hybrid Cell
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America