Market Size –
The drone payload market size has grown rapidly in recent years. It will grow from <b>$8.93 billion in 2023 to $10.41 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. </b> The growth in the historic period can be attributed to military and defense applications, surge in commercial drone usage, infrastructure inspection and monitoring, search and rescue operations, film and entertainment industry use, parcel and cargo delivery, increased budget allocations.
The drone payload market size is expected to see rapid growth in the next few years. It will grow to <b>$18.92 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. </b> The growth in the forecast period can be attributed to surge in autonomous drone operations, , focus on lightweight and compact designs, advancements in communication systems, integration of thermal imaging, customization for specific applications. Major trends in the forecast period include miniaturization and lightweight payloads, advanced imaging and sensor technologies, artificial intelligence (ai) and machine learning (ml), communication and connectivity upgrades, environmental monitoring and precision agriculture, medical payloads and emergency response, increased endurance and range.
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Scope Of Drone Payload Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Drone Payload Market Overview
Market Drivers –
An increase in demand for improved surveillance is driving the drone payload market. Surveillance refers to the cautious looking of someone or place, particularly with the aid of using the police or army, due to against the law that has befallen or is expected. Security staff can monitor tasks more swiftly and effectively with the help of drones. Drones permit safety groups to carry out tracking responsibilities more quickly and efficiently. For instance, according to a report by the Bureau of Labor Statistics, a US-based primary fact-finding agency, by 2021, there are projected to be 85 million surveillance camera installations in the US, up from 70 million in 2018. This is a rise of nearly 21%. Therefore, demand for improved surveillance is driving the growth of the drone payload market.
Market Trends –
Technological advancement in drones is a key trend gaining popularity in the drone payload market. Major companies operating in the drone payload sector are adopting new technological solutions to sustain their position. For instance, in June 2021, Parrot SA, a French-based wireless products manufacturer, launched ANAFI Ai, a drone that sets new standards and capabilities. The ANAFI Ai is the first drone that uses 4G as its primary data interface with the operator. The obstacle-avoidance (OA) system developed by ANAFI Ai identifies obstacles in all directions, utilising stereo cameras to sense objects and automatically avoid them. This launch is a game changer for the drone industry and Parrot’s product portfolio.
The drone payload market covered in this report is segmented –
1) By Type: Cameras And Sensors, Radar And Communication, Weaponry
2) By Application: Military, Civilian
3) By End User: Defense, Agriculture And Environment, Media And Entertainment, Energy, Government, Construction And Archaeology, Other End Users
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Regional Insights –
North America was the largest region in the drone payload market in 2023. The regions covered in the drone payload market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the drone payload market report are BAE Systems plc, Elbit Systems Ltd., Lockheed Martin Corporation, Northrop Grumman Corporation, AeroVironment Inc., Autel Robotics Co. Ltd., Draganfly Inc., Israel Aerospace Industries Ltd., IMSAR LLC, Parrot SA, Teledyne FLIR LLC, 3D Robotics Inc., Birdseyeview Aerobotics Inc., DroneDeploy Inc., Intel Corporation, PrecisionHawk Inc., SZ DJI Technology Co. Ltd., Terra Drone Corporation, The Boeing Company, General Atomics Aeronautical Systems Inc., Textron Inc., Raytheon Technologies Corporation, L3Harris Technologies Inc., Kratos Defense & Security Solutions Inc., FLIR Systems Inc., Thales Group, Safran SA, Leonardo SpA, Airbus Group SE, Eos Positioning Systems, RIEGL Laser Measurement Systems GmbH
Table of Contents
1. Executive Summary
2. Drone Payload Market Report Structure
3. Drone Payload Market Trends And Strategies
4. Drone Payload Market – Macro Economic Scenario
5. Drone Payload Market Size And Growth
…..
27. Drone Payload Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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