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Drones Market Eyeing Remarkable Growth due to Technological Advances and Industry to Touch USD 66.012 Billion at 14.30% CAGR by 2030

Oct 20, 2023 10:00 PM ET

Drones Market Eyeing Remarkable Growth due to Technological Advances and Industry to Touch USD 66.012 Billion at 14.30% CAGR by 2030

Drones Market Overview:

The global drones market will touch USD 66.012 billion at 14.30% CAGR by 2030 as per the latest Market Research Future report.


Increasing Adoption in Real Estate and Construction to Boost Market Growth

The increasing adoption of drones in real estate and construction sectors will boost market growth over the forecast period for their ability of surveying a property, offering exact and constant project alerts, increasing safety, and preventing harmful accidents at construction sites. Besides, their conventional applications like security, surveillance, and monitoring have propelled product demand for rescue and search operations.

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Key Players:

Eminent industry players profiled in the drones market report include Microdrones (Germany), DJI (China), Aibotix GmbH Limited (UK), Drone America (US), Draganfly Innovations Inc. (US), ING Robotic Aviation (Canada), Aeryon Labs Plc. (UK), AeroVironment Inc. (US), Ascending Technologies Inc. (Canada), and Univision. (Canada).


Technological Advances to offer Robust Opportunities

Organizations are constantly using ML and AI solutions for retrieving accurate findings from heaps of data. Integration of such modern technologies offer ample opportunities for the industry as these help in facilitating data-driven, real-time decision-making with the high-speed data capture, transfer and processing. The AI powered drones also enable users in interacting and observing footage captured through other drones in real-time and also tracking their flight paths.

Restraints and Challenges:

Technological Constraints to act as Market Restraint

Technological constraints, privacy concerns, safety concerns, high initial cost, and limited battery life may act as market restraints over the forecast period.

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Market Segmentation:

The global drones market is bifurcated based on type, capacity, capability, industry, application, and component.

By type, the fixed wing type will domineer the market over the forecast period.

By capability, the market is bifurcated into cargo drones & passenger drones

By application, inspection will spur the market over the forecast period.

By capacity, the market is bifurcated into up to 100kg & over 100kg

By component, the market is bifurcated into payload, propulsion system, guidance navigation control, and airframe.

By industry, oil and gas will head the market over the forecast period.

By technology, software will command the market over the forecast period.

COVID-19 Analysis

During the COVID-19 outbreak, there was an upsurge in the usage of drones in different contexts with the drone getting immensely beneficial at such scenarios. For speeding up the transportation turnaround times & reducing the peril of infections, drones had been used widely in the healthcare domain for delivery and pickup of COVID-19 test samples as well as for transporting medical supplies.

Regional Analysis:

APAC to Head Drones Market

The APAC market will head the drones market over the forecast period. Factors such as growing need for drones in ecommerce, surveillance, construction, and agriculture are boosting market growth. South Korea, Japan, and China have emerged as chief players in the drone manufacturing & technology development. Besides, regulatory frameworks are in fact evolving for accommodating the expanding usage of drones within the region.

Related Reports:

Toy Drones Market Analysis by Type (Quadcopters and Others), Application (Recreational Photography Videography and Drone Racing & Sports), Sales Channel (Distribution Channel and Direct Channel), and Regional Forecast To 2030

Smart Commercial Drone Market Research Report Information by Type (Fixed-Wing, Multi-Rotor and others), Application (Delivery Drones, Agriculture Monitoring, Oil & Gas, Law Enforcement, Disaster Management, Entertainment, Media and Mapping, Networking for Remote Areas, Environmental Drones, Real Estate and Construction and others), Component (Airframe, Payload, Guidance, Navigation and Control {GNC} and Propulsion System) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) – Forecast till 2030

Military Surveillance Drone Market Research Report Information By Drone Type, Payload, Technology And Region – Market Forecast Till 2032

Smartphone Controlled Drone Market Research Report Information by Component, Application, Range, and Region – Forecast till 2030

About Market Research Future:

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