Global Drones Market Report and Forecast 2024-2032

Global Drones Market Report and Forecast 2024-2032

Global Drones Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global drones market size reached a value of USD 25.50 billion in 2023. Aided by the expanding range of applications across various sectors including commercial, military, and recreational uses, the market is projected to further grow at a CAGR of 10.80% between 2024 and 2032 to reach a value of USD 59.2 billion by 2032.

Drones, also known as unmanned aerial vehicles (UAVs), have transformed from niche devices into essential tools across multiple industries. They are increasingly being used for aerial photography, surveying, logistics, agriculture, and more, thanks to their ability to collect and analyse data from areas that are otherwise inaccessible.

The drones market growth is primarily fuelled by technological advancements in UAV technology across the world, which have enhanced the capabilities and reduced the costs of drones. This has made drones more accessible and useful for a broader range of applications, from commercial ventures to personal recreation.

Another significant driver is the increasing adoption of drones for commercial purposes, such as delivery services, agricultural monitoring, and infrastructure inspection. This trend is supported by the evolving regulatory landscape, which is gradually accommodating more widespread use of UAV technology in controlled airspace.

As per the drones market analysis, advances in artificial intelligence and machine learning are enabling higher levels of autonomy in drones. Autonomous drones can operate without human intervention, making them ideal for applications in challenging or remote environments. The use of drones for security and surveillance purposes is expanding rapidly. Governments and private security firms are utilising drones for border security, traffic monitoring, and event security, driving demand in the security sector.

Drones have become popular as recreational devices, particularly for photography and racing which fuels the drones market expansion. The recreational segment is seeing a surge in demand for drones equipped with cameras that offer high-quality video and photo capabilities.

Drones are increasingly being integrated with the Internet of Things (IoT) and big data technologies, enhancing their ability to perform complex data collection and analysis. This integration allows for real-time data processing and has significant implications for industrial sectors like agriculture, where precise, up-to-date information is crucial for crop management.

As per the drones market outlook, there is a growing trend towards using drones for delivery services, particularly in urban areas where conventional delivery methods can be inefficient. Companies such as Amazon and UPS are investing heavily in drone delivery projects, indicating strong future growth in this segment.

The market has witnessed several innovations, including the development of longer-lasting battery technologies, more robust communication systems, and improved materials that enhance drone durability and performance. Furthermore, strategic partnerships in the drones market between technology providers and drone manufacturers are helping to push the boundaries of what drones can achieve.

North America currently leads the global market, thanks to its advanced technological infrastructure and the presence of major drone manufacturers. However, Asia Pacific is expected to experience the fastest growth during the forecast period due to increasing industrialization, rising adoption of advanced agricultural techniques, and growing investments in security infrastructure.

Looking forward, the global drones market share is poised for significant expansion, driven by continuous technological advancements, increasing commercial applications, and evolving regulatory frameworks. As drones become more integrated into daily operations across various industries, their impact on market dynamics is expected to grow, leading to new opportunities and challenges in the global market landscape.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

• Fixed-Wing
• Rotary-Wing
• Hybrid

Market Breakup by Application

• Construction
• Agriculture
• Energy
• Entertainment
• Law Enforcement
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global drones market. Some of the major players explored in the report by Expert Market Research are as follows:

• SZ DJI Technology Co., Ltd.
• Intel Corp.
• Advanced Technology Labs AG (Yuneec)
• DELAIR SAS
• Parrot Drones SAS
• DroneDeploy, Inc.
• Terra Drone Corp.
• PrecisionHawk, Inc.
• Autel Robotics Co., Ltd.
• Birds Eye Aerial Drones, LLC
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.