Drone Market to Grow by USD 36.1 Billion (2024-2028), Driven by Expanding Applications, Report Highlights How AI is Driving Market Transformation - Technavio

NEW YORK, Jan. 22, 2025 /PRNewswire/ -- Report with the AI impact on market trends - The global drone market size is estimated to grow by USD 36.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 15.23%  during the forecast period. Rise in applications of drones is driving market growth, with a trend towards new developments and launches of commercial drones. However, restrictive laws and regulations governing uav use  poses a challenge. Key market players include AeroVironment Inc., Autel Robotics Co. Ltd., DELAIR SAS, Drone Delivery Canada Corp., DroneDeploy Inc., EHang Holdings Ltd., Intel Corp., Kespry Inc., Kitty Hawk Corp., Leptron Unmanned Aircraft Systems Inc., Parrot Drones SAS, Pix4D SA, PrecisionHawk Inc., Skydio Inc., Spirit AeroSystems Inc., SZ DJI Technology Co. Ltd., Teledyne Technologies Inc., Terra Motors Corp., The Boeing Co., Trimble Inc., and Yuneec International Co. Ltd..

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Drone Market Scope
Report Coverage	Details
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 15.23%
Market growth 2024-2028	USD 36.1 billion
Market structure	Fragmented
YoY growth 2022-2023 (%)	12.86
Regional analysis	APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution	APAC at 42%
Key countries	China, US, Germany, Japan, and UK
Key companies profiled	AeroVironment Inc., Autel Robotics Co. Ltd., DELAIR SAS, Drone Delivery Canada Corp., DroneDeploy Inc., EHang Holdings Ltd., Intel Corp., Kespry Inc., Kitty Hawk Corp., Leptron Unmanned Aircraft Systems Inc., Parrot Drones SAS, Pix4D SA, PrecisionHawk Inc., Skydio Inc., Spirit AeroSystems Inc., SZ DJI Technology Co. Ltd., Teledyne Technologies Inc., Terra Motors Corp., The Boeing Co., Trimble Inc., and Yuneec International Co. Ltd.

Market Driver

Drones have transformed commercial applications due to their ease of deployment, low maintenance costs, mobility, and hovering capability. They are extensively used in sectors like wireless coverage, remote sensing, search and rescue (SAR), delivery services, security, precision agriculture, and civil infrastructure inspection. In disaster situations, drones expedite SAR activities, offering timely warnings and transporting essential supplies to inaccessible areas. Miniature drones with advanced optic capabilities have expanded their utility. Leading commercial drone manufacturers, such as DJI, cater to various market segments with innovative platforms and solutions. The growing adoption of drones is fueling advancements in the global drone market. 

The drone market is experiencing significant growth with the increasing popularity of commercial drones in various industries. Companies are investing in electrical engines, propellers, and regulators to power their drones for applications in agriculture, construction, and real estate. In the agriculture segment, drones are used for precision farming and farm management with Raptor Maps leading the way. In construction, drones are used for surveying and inspecting unstable roofs and electrical cables. The real estate sector utilizes drones for video recording and property inspections. The military sector continues to invest in drones for border security, military operations, and precision-guided bombs. AeroVironment Inc is a key player in this sector. The hybrid segment is gaining traction with the use of heat and jet engines for longer flight times. The e-commerce sector is exploring drones for delivery mechanisms, while logistics and retail organizations use drones for inventory management and supply chain optimization. Public services, hospitals, emergency response teams, conservationists, and farmers also benefit from drones for various missions, including filming and photography, wildlife monitoring, and agricultural productivity enhancement. Robotics and harvesting are future growth areas for the drone market. 

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 Market Challenges

• The global drone market faces significant challenges due to the misuse of drones by criminals and terrorists. Easing regulations on drone applications increases the risk of drones being used for terrorist activities or criminal purposes. To mitigate this, governments impose restrictions on drone use near sensitive areas and implement requirements such as type certification, drone pilot licensing, and training from authorized organizations. However, the security of drone flight management systems is also a major concern, as they are vulnerable to hacking. Furthermore, drone sightings forcing airplane diversions can hinder the widespread adoption of commercial drones, potentially hindering market growth.
• The drone market is experiencing significant growth due to various applications in diverse industries. Key sectors include aerial surveillance for security and public services, weaponry for defense, and intelligence gathering for mining, oil and gas, and construction. Sensors such as ultrasonic, laser, LIDAR, time-of-flight, chemical, stabilization, orientation, thermal, hyperspectral, and mineral sensors play crucial roles in data capture and processing. Electronics, artificial intelligence, machine learning, computing, microcontrollers, processors, mobile hardware, and data transfer are essential components. Drone applications extend to aerial videography and photography for flora and fauna, real estate, transportation, entertainment, and media, telecommunications, and thermal imaging cameras for various industries. Rotary wing and fixed wing drones are popular choices based on specific use cases. Challenges include internet provision, mineral detection, crop health monitoring, water quality assessment, surface composition analysis, and real-time data transfer.

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Segment Overview 

This drone market report extensively covers market segmentation by  

Application 

• 1.1 Industrial
• 1.2 Terrestrial imagery and mapping
• 1.3 Precision agriculture
• 1.4 Inspection and monitoring
• 1.5 Others

Type 

• 2.1 Rotary blade
• 2.2 Fixed wing
• 2.3 Hybrid

Geography 

• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Industrial-  The drone market is experiencing significant growth due to increasing demand from various industries such as agriculture, construction, and filmmaking. Businesses are utilizing drones for tasks like crop monitoring, site inspections, and aerial photography. Drones offer benefits like cost savings, improved efficiency, and enhanced safety. Companies like DJI, Parrot, and 3DRobotics lead the market with innovative products and solutions. The future looks bright for this technology, with new applications and advancements continually emerging.

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Research Analysis

Unmanned aircraft, also known as Unmanned Aerial Vehicles (UAVs) or Unmanned Aircraft Systems (UAS), are robotic aircraft that operate without a human pilot on board. They come in various sizes and capabilities, from small quadcopters to large fixed-wing drones. UAVs are used in various industries, including traffic monitoring, videography, agriculture, delivery services, weather monitoring, search and rescue, and more. They are equipped with GPS, cameras, sensors, and computing systems, including microcontrollers and processors. In the commercial sector, UAVs are used for aerial photography, video recording, and surveying. In the construction sector and real estate industry, they are used for inspecting unstable roofs, electrical cables, and other hard-to-reach areas. In the defense sector, UAVs are used for reconnaissance, border security, and military operations, including the deployment of precision-guided bombs and missiles. Autonomous drones are also being developed for advanced military applications and complex missions.

Market Research Overview

Unmanned aircraft, also known as Unmanned Aerial Vehicles (UAVs) or Unmanned Aircraft Systems (UAS), are robotic aircraft that operate without a human pilot on board. These robots use GPS technology for navigation and can be used for various applications such as traffic monitoring, videography, agriculture, delivery services, weather monitoring, search and rescue, surveillance, military, defense, and more. UAVs come in different types like rotary wing drones and fixed wing drones, and are powered by engines like heat engines, jet engines, or electrical engines. They are equipped with sensors such as ultrasonic, laser, LIDAR, time-of-flight, chemical, stabilization, orientation, thermal, and hyperspectral sensors. UAVs are used in various industries like agriculture, construction, real estate, oil and gas, transportation, entertainment and media, telecommunications, mining, and more. They are also used for aerial videography, photography, flora and fauna studies, public services, and even for delivering medical supplies and test samples. UAVs can carry cameras, thermal imaging cameras, and other equipment for data capture, processing, and transfer. The agriculture segment, construction sector, and real estate sector are major consumers of UAVs for monitoring unstable roofs, electrical cables, and crop health. The hybrid segment of UAVs, which combines multiple types of engines, is also gaining popularity. UAVs are used in various sectors for various purposes, from military intelligence gathering and artillery spotting to aerial surveillance and anti-aircraft target practice. The electronics used in UAVs include artificial intelligence, machine learning, computing, microcontrollers, processors, mobile hardware, and data transfer systems. Companies like AeroVironment Inc. Are key players in the defense sector of the UAV market. UAVs are revolutionizing the way industries operate and are here to stay.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Industrial
• Terrestrial Imagery And Mapping
• Precision Agriculture
• Inspection And Monitoring
• Others
• Type
• Rotary Blade
• Fixed Wing
• Hybrid
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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