Small Drones Market worth $10.4 billion by 2030 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 2, 2024 /PRNewswire/ -- The small drones market is projected to grow from USD 5.8 billion in 2023 to USD 10.4 billion by 2030, at a CAGR of 8.6% from 2023 to 2030 according to a new report by MarketsandMarkets™. The market growth can be attributed to the growing demand for small patrolling drones for marine border security.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141134567

Browse in-depth TOC on "Small Drones Market" 

420 – Tables
65 – Figures
350 – Pages

Small Drones Market Report Scope:

 The global expansion of the market can be attributed to the growing adoption of small drones in both civil and military applications. Small drones find widespread use in numerous commercial sectors, including photography, product and medicine delivery, 3D mapping, data transmission, as well as inspection and monitoring in confined spaces. They also play crucial roles in industries such as agriculture, real estate, and oil & gas.

In agriculture, the utilization of small drones has led to the emergence of precision farming practices. This technology enables farmers to monitor crop health, oversee irrigation equipment, and identify various types of weeds, among other applications. Furthermore, small drones have become increasingly prevalent in the field of photography. Their user-friendly nature and affordability, with prices often below $550, make them accessible tools for capturing stunning aerial photos and videos utilizing advanced digital techniques.

Drone photography serves a range of purposes, including land-use planning, movie production, environmental studies, archaeology, power line inspection, oil & gas surveying, surveillance, commercial advertising, and artistic projects. Additionally, drones are indispensable for inspecting challenging-to-reach locations, especially at significant altitudes or within contaminated environments.

The application of drones has revolutionized the inspection of telecommunication towers, offering cost-effective and time-efficient solutions. Drones are also instrumental in conducting aerial assessments of buildings and other critical infrastructure, such as pipelines, electrical grids, offshore facilities, and solar panels.

Based on platform, the civil & commercial segment is anticipated to record the highest growth rate during the forecast period.

In terms of platform, the small drone market is divided into two main categories: civil & commercial and defense & government. Within the civil & commercial segment, there are two further subdivisions: micro and small. On the other hand, the defense & government segment is categorized into three subgroups: nano, micro, and mini.

The increasing demand for small drones for use in multiple potential applications in the civil & commercial sector has led to the growth of the small drone market. For instance, drones from ideaForge (India) are used for monitoring the count of wild animals and the illegal poaching activities in forests in India. However, the consumer drones have become popular among prosumers and hobbyists, vloggers, and videographers worldwide. This is because these small drones are cost-effective and offer high-resolution wide-angle photography.

On the other hand, governments around the world are gradually leveraging drones for law enforcement and governance applications, primarily because of their compact size and swift service capabilities. Within the defense sector, drones play a vital role in providing critical battlefield intelligence. In contemporary military operations, armed forces worldwide have reduced their reliance on human scouts for information gathering and have embraced drones. The advantage of drones lies in their ability to operate with near imperceptibility to enemy forces. Drones are instrumental in monitoring enemy forces or specific areas, transmitting video feeds to designated ground stations using GPS technology. These drones are employed in Intelligence, Surveillance, and Reconnaissance (ISR) operations to collect valuable information about potential targets that might otherwise be challenging to detect.

An example of such technology is the WASP drone, developed through collaboration between the US-based AeroVironment and the Defense Advanced Research Projects Agency (DARPA). WASP is deployed on battlefields to conduct surveillance and reconnaissance activities, enhancing military intelligence capabilities. In a noteworthy incident in July 2022, a drone deployed along Spanish beaches played a life-saving role by rescuing a 14-year-old boy struggling against a powerful ocean current.

Based on application, the commercial segment is estimated to register a large share in the base year.

The small drone market is categorized by application into military, commercial, government & law enforcement, and consumer segments. The use of small drones has been a longstanding practice among defense forces worldwide. However, in recent times, both public and private sector organizations have made substantial investments in the development of new and advanced UAVs tailored to their specific needs. This has led to significant progress in small drone technology, expanding their potential applications in commercial sectors. For instance, in Japan, small drones are utilized for pesticide spraying on farms, while Amazon (US) has ambitious plans to employ small drones for product delivery in the near future. Considerable research and development investments have broadened the scope of small drones, making them applicable in various fields such as mining, surveying, and 3D mapping, as well as in industries like oil & gas exploration and the film industry, among others.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=141134567

The Asia Pacific region is projected to be a high growth potential market for small drones during the forecast period.

Asia Pacific is renowned for being a global leader in innovation and technology. Based on percentage revenue growth over a three-year period, it has been the fastest-growing technological company in recent times. South Korea, Malaysia, and China The surge in military spending by nations in the Asia-Pacific area to improve their homeland security and defense capabilities is responsible for the expansion of the small drone industry in that region. Drones have also been used to secure national borders as a result of political unrest in the Asia-Pacific region. This is a critical driver behind the expansion of the small drone industry in the area.

The low-cost production of UAV parts, the growing demand for doorstep delivery, and advancements in UAV technology have all contributed to the notable growth of the small drone market in Asia Pacific. The Asia-Pacific small drone market is expanding thanks in part to the efforts of China, India, Japan, Australia, and South Korea.

The major players in small drones companies include DJI (China), Parrot Drone SAS (France), Israel Aerospace Industry Ltd. (Israel), AeroVironment, Inc. (US), and Lockheed Martin Corporation (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=141134567

Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting

Related Reports: 

Military Drone Market Size, Share & Industry Growth Analysis Report by Platform, Type (Fixed Wing, Rotary Wing, And Hybrid), Application, Mtow, Propulsion (Turbo Engine, Piston Engine and Battery), Operation Mode, Speed, Launching Mode & Region - Global Growth Driver and Industry Forecast to 2027

Drone Software Market Size, Share & Industry Growth Analysis Report by Solution (Application, System), Platform (Defense & Government, Commercial, Consumer) Architecture (Open Source, Closed Source), Deployment (Onboard Drone, Ground-Based, Region - Global Growth Driver and Industry Forecast to 2027

Fixed-wing VTOL UAV Market by Application (Military, Government & Law Enforcement, Commercial), Propulsion (Electric, Hybrid, Gasoline), Mode of operation (VLOS, EVLOS, BVLOS), Endurance, Range, MTOW and Region - Global Forecast to 2030

Target drones Market by End-use Sector (Defense, Commercial), End Use (Aerial Targets, Ground Targets, Marine Targets), Application, Mode of Operation, Payload Capacity, Build, Target Type, Engine Type, Speed, Type and Region - Global Forecast to 2027

Drone Defense System Market by Application (Drone Mounting, Ground Station), Technology (Identification & Detection, Countermeasures), End User (Military, Commercial, Homeland Security), and Region - Global Forecast to 2022

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/small-uav-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/small-uav.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg