Multi-rotor Drone Market Assessment, By Product Type [Quadcopter, Hexacopter, Tricopter, Octocopter], By Payload Capacity [Light, Medium, Heavy], By Range [Short-range, Medium-range, Long-range], By Application [Commercial, Industrial, Military and Defens

Multi-rotor Drone Market Assessment, By Product Type [Quadcopter, Hexacopter, Tricopter, Octocopter], By Payload Capacity [Light, Medium, Heavy], By Range [Short-range, Medium-range, Long-range], By Application [Commercial, Industrial, Military and Defense, Consumer], By Region, Opportunities and Forecast, 2017-2031F

Global multi-rotor drone market is projected to witness a CAGR of 16.70% during the forecast period 2024-2031, growing from USD 4.27 billion in 2023 to USD 14.69 billion in 2031. The market is rapidly growing, attributable to persistent innovation and enhancements which makes the drones more productive and reasonable. Farmers are progressively involving drones for precision farming, which helps in observing harvests and showering pesticides more successfully. Drones provide a secure and faster method for checking electrical cables at heights, wind turbines, and pipelines with easy access in businesses such as infrastructure inspection. Strong regulations by governments are performing a significant role, making it easier for organizations to commercially utilize drones. The combination of versatility, cost-adequacy, and broadening applications are driving the evolving multi-rotor drone’s technology.

E-commerce and delivery services are significantly adding to the increase in the global multi-rotor drone market size in the forecasted period. Companies are increasingly exploring drone delivery for rapid contactless delivery of goods, medical supplies, and food. Drones offer faster and more efficient delivery arrangements, especially in urban areas with heavy traffic or rural regions with limited infrastructure. The innovation of drones meets the rising consumer demand for quick and reliable deliveries.

Some large corporations, such as Amazon and UPS, are expanding their investment in drone-related research and development, further boosting the multi-rotor drone market. The convenience and efficiency of drone deliveries are reshaping the supply chain strategy, making them an important driver in the multi-rotor drone market.

For instance, in May 2024, Air Frameworks West unveiled PARASAFE CA12-01, a notable 25 kg parachute safety system intended to introduce new generation of security for your drone operations which is industry-tested and compliant with ASTM standards.

Increased Applications in Agriculture

The rise of usage of drones for agricultural applications is giving a major lift to the multi-rotor drone market. Farmers are progressively involving drones for precision farming, assisting them with observing yields, spraying pesticides, and field mapping more proficiently. The drones give continuous information, permitting farmers to apply pesticides and composts more precisely, diminishing waste and further developing yields. Drones can undoubtedly explore intense territories and tiny, irregular fields, making farm management simpler and more compelling. Additionally, drones are helpful to farmers with making ideal decisions, prompting improved efficiency and productivity by rapidly evaluating crop health conditions and spotting issues early to increase the quality and quantity of the yield. The developing reliance on drone innovation is driving the multi-rotor drone market's fast extension.

For instance, in May 2023, DJI established a standard for business drone administrator with the release of the DJI Matrice 350 RTK (M350 RTK). The M350 RTK is a renovated lead drone platform that is more versatile, more secure, and effective for any aerial activity in agriculture, energy, planning, infrastructure or public safety service.

Aerial Photography and Videography Revolutionizing Multi-Rotor Drone Market

Aerial photography and videography are altering the global multi-rotor drone market demand by offering amazing cinematic angles. It is revolutionizing ventures in the varied sectors, such as in real estate and entertainment, delivering various property views and cinematic shots. Drones make excellent aerial imagery at more reasonable prices and in accessible regions, enabling movie producers, photographers, and even specialists to catch stunning scenes. The extensive adoption of drones has prompted a surge in the accessibility of expert real estate photograph artists who offer aerial imaging services. The blend of affordability and accessibility has made drone photography a standard contribution in real estate marketing, permitting specialists to introduce properties in a convincing and appealing way. Therefore, the adaptability and usability of the drones are reshaping imaginative ventures, driving their boundless adoption, and contributing fundamentally to the global multi-rotor drone market trend.

For instance, in March 2023, Embention, a leading developer of autopilots and motor controllers for the Urban Air Mobility (UAM) industry, collaborated with Dronetech to enhance security and reliability in VTOL aircraft through the integration of its Veronte Autopilot 1x and motor controllers compliant with DO178C and DO254 standards.

Government Initiatives Acting as Catalyst

Governments perform an integral role in fostering revenue growth of the global multi-rotor drone market. In the United States, the FAA has simplified it for organizations to utilize drones commercially by facilitating limitations on things such as flying beyond the line of sight and at night. It assists organizations with incorporating drones into everyday activities more easily. Governments themselves are additionally involving drones for extreme operations such as disaster response, infrastructure inspection, and environmental monitoring.

In India, the Digital Sky Platform makes it simple for drone operators to enroll and comply with guidelines. Furthermore, similar to the EU's initiatives, the government's funding for drone research boosts development and drives the global multi-rotor drone market growth.

For instance, in February 2022, The European Aviation Safety Agency, or EASA, created drone operating regulations that include specifications for manufacturers, operators, and remote pilots. The purpose of these guidelines is to guarantee the effective and safe usage of drones in a range of applications.

North America Dominates the Global Multi-Rotor Drone Market

North America is leading the global multi-rotor drone market share, owing to benefits from advanced innovation and huge interest in innovative drone work and technology, which contribute to the major market share in the drone industry. In the United States, the FAA's strong guidelines and advanced technology infrastructure make it simpler for organizations to commercially utilize drones. The region is home to many prominent drone organizations and startups, which encourages a competitive and dynamic industry. The region's supportive regulations create a favorable environment for the widespread adoption of drones in industries such as agribusiness, land, and media, thereby fostering the market development. Government incentives and subsidies play a vital role, as drones are used for public safety and environmental monitoring.

For instance, in May 2024, Draganfly Inc. unveiled the FlexForce Modular FPV UAV System, specifically engineered for government and military applications, featuring quick-exchange assemblies, advanced flight modes, and ultra-low latency video feed.

Future Market Scenario (2024 – 2031F)

The adoption of multi-rotor drones might encounter rise attributable to technological advancements in the field of artificial intelligence, battery duration, and payload limit to improve drone abilities.

Supportive initiatives by governments across the world may facilitate commercial drone usage and boost the global multi-rotor drone market.

Increase in the adoption of drones in precision farming is projected to grow to enhance crop monitoring and spraying pesticides.

Rising demand for drone deliveries in e-commerce will drive the market growth.

Expanded use in disaster response, surveillance, and infrastructure inspection will broaden market applications.

Key Players Landscape and Outlook

The global multi-rotor drone market is witnessing rapid growth with prominent players across the globe. The adoption of autonomous drone applications will grow in the forecasted period as customers become more aware of the advantages and their effect on operational expenses. The multi-rotor drone market is propelled by innovation, supporting regulations by the government and associated bodies, and developing purposes in fields such as horticulture, online business, and public safety, which are driving this expansion in the industry.

In January 2024, Air Frameworks West and LahakX fostered the development of large payload spraying drones to reimagine drone applications for agriculture and firefighting with improved features and efficiency.

In February 2022, the Australian supplier of drone services and data solutions, AUAV, was bought by Vertech Group for most of its shares. Strengthening Vertech's skills in aerial surveying and inspection are the aim of the purchase.