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The global drones market size reached approximately USD 38.25 billion in 2023. The market is further projected to grow at a CAGR of 22.4% between 2024 and 2032, reaching a value of USD 244.95 billion by 2032.
Drones, often known as unmanned aircraft systems or unmanned aerial vehicles, are flying robots that are remote controlled or fly autonomously with the help of software-controlled flight plans, that work in conjunction with global positioning system and onboard sensors. Drones are used for a wide range of applications including weather monitoring, search and rescue, and surveillance, among others.
On the basis of type, the market is divided into fixed-wing, rotary-wing, and hybrid. Based on application, the market is classified into construction, agriculture, energy, entertainment, and law enforcement, among others.
On the basis of region, the drones market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Construction sector accounts for a significant drones market share. The traditional land surveillance methods are being replaced by drones as they allow for reduction in labour costs while offering time efficiency. The utilisation of drones for performing visual inspection of high-risk areas on construction sites is increasing. Several surveyors and engineers prefer using drones for conducting inspections of high rise structures as they eliminate the scope of human error while capturing necessary data.
The Asia Pacific is anticipated to witness significant growth over the forecast period. This growth can be attributed to the recent evolution of drone regulations in various countries across the region and increasing manufacturing activities. The strong presence of various key market players including Terra Drone Corp. and SZ DJI Technology Co., Ltd., among others in the region is supporting the market expansion. The increasing deployment of drones in telecommunication, construction, and agriculture sectors is further boosting the drones market demand.
SZ DJI Technology Co., Ltd. is involved in the manufacture and development of camera technology and drones for recreational and commercial applications. The company was founded in 2006 and is headquartered in Shenzhen, China.
Intel Corp., headquartered in California, United States, specialises in semiconductor design and manufacturing, autonomous driving solutions, drones, and non-volatile memory solutions. The company was founded in 1968.
Advanced Technology Labs AG (Yuneec) is involved in the development of multicopters for inspection, mapping, surveying, reconnaissance, and rescue, among others. The company was founded in 2016 and is headquartered in Zurich, Switzerland.
Other drones market key players include DELAIR SAS, Parrot Drones SAS, DroneDeploy, Inc., Terra Drone Corp., PrecisionHawk, Inc., Autel Robotics Co., Ltd., and Birds Eye Aerial Drones, LLC, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of approximately USD 38.25 billion in 2023.
The market is projected to grow at a CAGR of 22.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 244.95 billion by 2032.
The major market drivers include increasing utilisation of drones for weather surveillance and evolution of drone regulations in various countries across the globe.
The key trends fuelling the growth of the market include high accuracy rate of drone package delivery services and rising adoption of drones by the agricultural sector.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications of drones include construction, agriculture, energy, entertainment, and law enforcement, among others.
The key players in the market are SZ DJI Technology Co., Ltd., Intel Corp., Advanced Technology Labs AG (Yuneec), DELAIR SAS, Parrot Drones SAS, DroneDeploy, Inc., Terra Drone Corp., PrecisionHawk, Inc., Autel Robotics Co., Ltd., and Birds Eye Aerial Drones, LLC, among others.
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