The ‘Global Small Drones Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global small drones market, assessing the market on the basis of its segments like types, power sources, sizes, applications, and major regions.
Small Drones Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 15.65%
Drones are gaining traction in the commercial and military sectors at a rapid pace, which is propelling the demand for small drones. This product is witnessing expanded opportunities in the military sector to enhance reconnaissance and air attack capabilities while preserving the lives of soldiers.
Over the forecast period, the anticipated increase in military expenditure by several nations is likely to accelerate the small drones market growth. In addition, the compact size of small drones can improve the efficiency of search and surveillance operations which is another crucial market driving factor.
The increasing scope of small drones in the commercial segment is likely to add to the market growth in the forecast period. Small drones can be used in traffic management, highway infrastructure management, disaster relief, and waste management, among others. Therefore, the rapid urbanisation and increasing awareness about the efficiency of modern electrical equipment are likely to provide impetus to the small drones market.
Moreover, the market is anticipated to be navigated by the rising standards of living, favourable policies of various governments, and technical upgradations in the end use industries of small drones.
Small Drones Industry Definition and Major Segments
Small drones, also known as miniature UAV, are autonomous aircrafts which do not need any human interference for flying. It is compact in size and has the ability to reach areas where conventional drones cannot reach. Regardless of smaller size of such drones, they are as efficient and durable as regular sized drones.
Based on type, the market can be segmented into:
• Fixed-Wing Drones
• Rotary-Wing Drones
• Hybrid/Transitional Drones
On the basis of power source, the market has been classified into:
• Solar Cell
• Fuel Cell
• Hybrid Cell
By size, the market has been bifurcated into:
• Mini Drones
• Micro/Nano Drones
Based on application, the market is divided into:
On the basis of region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Small Drones Market Trends
The key trends in the global small drones market include the technological advancements in the agriculture sector which are escalating the incorporation of drones for irrigation, monitoring of crop, managing livestock, and improving fertilisation methods, among others. Over the forecast period, the growing upgradations in farming techniques are likely to bolster the demand for small drones.
Growing efforts and increasing investments in research and development activities by the governments of emerging economies are likely to heighten the demand for small drones in order to improve the efficiency of military operations. In addition, the increasing geopolitical tensions are expanding the opportunities for the small drones market in terms of military applications.
Regionally, North America accounts for a significant share in the market owing to the high military expenditure across strong economies such as the United States.
Key Market Players
The major players in the small drones market report are:
- Aerovironment, Inc.
- Lockheed Martin Corporation
- Aeronautics Ltd.
- Thales Group
- Elbit Systems, Ltd.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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