A drone is either functioned by an onboard computer, controlled autonomously, or remotely by a human pilot. The size of a drone varies from small sized ones driven by electric motors to the large sized ones powered by internal combustion engines. Recent drone technologies have transformed modern warfare. The potential usage of drones is already influencing many companies and industries to looking forward to increasing their investments in designing and development of drones. The possible applications of drones are numerous, such as passenger carriage, cargo transportation, agricultural, and industrial. Currently, there are a number of investments by companies, such as Airbus, Boeing, AeroVironment, Inc., and DJI, on the drone front, which would significantly propel the market growth. The growing demand for the development of electric drones, increasing use of UAVs in the commercial sector, no fuel emissions, and rising usage of drones for industrial applications are the key factors driving the global drones market.
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Moreover, with the rapid developments in autonomous flight systems, batteries, and electric power, there has been a steep rise in the sale of drones.
Similarly, the opportunities in this market are the emergence of 3D-printed drones, the introduction of solar-powered drones, increasing need for border monitoring, and usage of drones in the energy sector. However, the growth of this market will be hampered due to the possibility of cyber-attacks, regulatory norms, and safety issues.
Furthermore, cargo drones and passenger drones have significant implications for transportation companies that are planning next-generation products. As drone adoption accelerates, the value will quickly shift from drone makers to the providers of drone-related services. This would significantly boost the global drones market growth.
The global drones market is estimated to witness 20.18% CAGR during the forecast period, 2018-2028. In 2018, the market was led by North America with 36.02% share, followed by Europe and Asia-Pacific with shares of 22.46% and 20.61%, respectively. Asia-Pacific is the fastest growing region for drones market. North America dominates the global market and is likely to grow remarkably in the front. The region leads the global market in terms of expenditure and technological advancements and has a large number of deployments of drones.
Moreover, the US generates very high demand for drones used for surveillance purposes. Although Canada made some considerable investments in the development of drones, the market is primarily dominated by the US, which is also the largest manufacturer of unmanned systems, globally. In addition, the sheer existence of key companies, such as AeroVironment, Inc., PrecisionHawk, and Uber Technologies Inc., combined with the availability of sophisticated technologies to deliver innovative solutions, enables this region to be a promising market.
AeroVironment, Inc. (US), DJI (China), Parrot Drones SAS (France), PrecisionHawk (US), and 3D Robotics, Inc. (US) are developers of drones for commercial applications and Airbus S.E. (France), Boeing (US), General Atomics (US), and Lockheed Martin (US), Northrop Grumman Corporation (US), and Thales Group (France) are developers of drones for military applications, these are the key players profiled in this report. Airbus S.E., Lockheed Martin, and Northrop Grumman Corporation are the leading developers of drones for military applications and together accounted for nearly 50% of the market share in 2017. DJI, 3D Robotics, Inc., and PrecisionHawk are the leading developers of drones for commercial applications and together accounted for nearly 25% of the market share in 2017.
Objective of the Global Drones Market Report – Forecast to 2028
• To provide insights into factors influencing the market growth
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on type, aircraft-type, end-user, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
• Manufacturers of avionics system
• Original Equipment Manufacturers (OEM)
• Camera and other payload device providers
• Battery and related component providers
• Providers of raw materials and equipment for drones
• Commercial end-users
• Military end-users
• Government and Regulatory Authorities
Researcher analysis is conducted by industry experts who offer insight into industry structure, market segmentation, technology assessment, competitive landscape (CL), and market penetration, as well as on emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories in different regions are estimated based on primary and secondary research.
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets. The key players in the market were identified through secondary research, and their market contributions in the respective regions were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis by Researcher added before being presented in this report.
Table Of Content – Major key Points
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Drones Market, By Type
7 Global Drones Market, By Capacity
8 Global Drones Market, By Application
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