Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global drones market size reached US$ 24.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.1 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028.

Drones, also known as unmanned aircraft systems or unmanned aerial vehicles (UAVs), are flying robots that are remotely controlled using software, embedded systems, sensors, and a global positioning system (GPS). They also consist of a battery, antenna, receiver, camera, accelerometer, altimeter, and speed and flight controllers. They are manufactured using lightweight composite materials that assist in minimizing weight and increasing maneuverability. Presently, they are commonly used in search and rescue operations, surveillance, traffic and weather monitoring, firefighting, health delivery services, photography, and videography. They are also utilized for capturing wider shorts of sports stadiums and enhancing the experience of viewers.

Drones Market Trends:
Increasing construction activities in residential, commercial, and industrial complexes represent one of the key factors positively influencing the demand for drones to improve safety, prevent hazardous situations, survey lands, and provide constant and reliable topographic updates. Moreover, the expanding e-commerce industry is driving the adoption of drones for fast deliveries of products and services. Furthermore, the growing adoption of modern agricultural practices is catalyzing the demand for drones to monitor crop status and livestock development in real time. In addition, there is a rise in the use of drones in the entertainment and media industry to record and capture footage on film sets. Besides this, the growing incidences of cross-border terrorist activities and illegal trespassing, in confluence with rising investments in the defense sector, are creating a positive outlook for the market. Apart from this, the development of customized and technologically advanced variants is anticipated to expand the applications of drones in the healthcare industry for the rapid delivery of vaccines, medical supplies, and drugs.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global drones market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, component, payload, point of sale and end-use industry.

Breakup by Type:

Fixed Wing
Rotary Wing
Hybrid

Fixed-wing drones exhibit a clear dominance in the market as they can cover a long distance on a single battery.

Breakup by Component:

Hardware
Software
Accessories

Hardware dominates the market as it supports operating systems for the efficient use of drones.

Breakup by Payload:

<25 Kilograms
25-170 Kilograms
>170 Kilograms

Drones with <25 kilograms payload hold the majority of the market share as they can be operated without a license and official permission.

Breakup by Point of Sale:

Original Equipment Manufacturers (OEM)
Aftermarket

Original equipment manufacturer (OEM) represents the largest point of sale for drones as it provides continuous updates and features in drones.

Breakup by End-Use Industry:

Construction
Agriculture
Military and Defense
Law Enforcement
Logistics
Media and Entertainment
Others

Drones are widely utilized in the military and defense industry due to the rising threat of terrorism and the increasing need for tracking illegal activities.

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

North America holds the majority of the market share on account of the presence of an established tech ecosystem in the region.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the top drones companies being 3D Robotics, AeroVironment Inc, Birdseyeview Aerobotics Inc., Delair SAS, DroneDeploy Inc., Intel Corporation, Parrot SA, Precisionhawk Inc., SZ DJI Technology Co. Ltd. (iFlight Technology Co. Ltd.), Terra Drone Corporation, Boeing Company, etc.

Key Questions Answered in This Report

1. What was the size of the global drones market in 2022?
2. What is the expected growth rate of the global drones market during 2023-2028?
3. What are the key factors driving the global drones market?
4. What has been the impact of COVID-19 on the global drones market?
5. What is the breakup of the global drones market based on the type?
6. What is the breakup of the global drones market based on the component?
7. What is the breakup of the global drones market based on the payload?
8. What is the breakup of the global drones market based on the point of sale?
9. What is the breakup of the global drones market based on the end-use industry?
10. What are the key regions in the global drones market?
11. Who are the key players/companies in the global drones market?