The drones global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Drones Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The drones market size has grown exponentially in recent years. It will grow from $30.53 billion in 2023 to $36.70 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to increased efficiency in transportation, a rise in drone applications, increased capabilities of drone platforms, and increased usage for surveillance.
The drones market size is expected to see exponential growth in the next few years. It will grow to $77.39 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth in the forecast period can be attributed to growing emphasis on sustainability and environmental protection, rising demand for photographic surveillance, the growing popularity of drone racing, and its increasing use in commercial and recreational settings. Major trends in the forecast period include the adoption of drones in the commercial sector, advancements in drone technology, technological advancements in communication systems, collaborations, and partnerships.
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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.
Market Drivers –
The expansion of the commercial sector is expected to propel the growth of the drone market going forward. The commercial sector refers to businesses and industries that sell and distribute goods and services for profit. The expansion of the commercial sector is due to the increasing interconnectedness of global markets, changing consumer preferences and rising disposable incomes, access to venture capital, private equity, and other forms of investment, and reforms in regulations and policies. Drones are helpful for the commercial sector by increasing efficiency and reducing costs in tasks such as inspections and deliveries while also providing enhanced data collection and improving safety in hazardous environments. For instance, in May 2024, according to the UK parliament, a US-based legislative body of the United Kingdom, the number of private sector businesses in the UK reached 5.6 million in January 2023, marking a 0.8% rise compared to 2022. Therefore, the expansion of the commercial sector is driving the growth of the drone market.
Market Trends –
Major companies operating in the drone market are focusing on developing technologically advanced solutions, such as all-in-one drone systems, to improve operational efficiency and provide versatile applications across various industries. An all-in-one drone system is a package that integrates multiple functionalities, including flight control, cameras, sensors, and software, into a comprehensive solution for diverse applications. For instance, in October 2023, Verge Aero, a US-based drone manufacturer, launched the Verge Aero X7 drone, a cutting-edge drone designed for exceptional drone shows. It is designed to enhance the aerial entertainment industry with advanced hardware and software features. The X7 aims to simplify the production of drone shows, making it more accessible for individuals and organizations to create displays of varying complexity. With advanced GPS capabilities, rapid charging batteries, and improved weather resistance, the X7 ensures reliable performance in various conditions. Additionally, Verge Aero offers a comprehensive starter package that includes fifty drones and full software access, reinforcing its commitment to democratizing drone technology for a wider audience.
The drones market covered in this report is segmented –
1) By Type: Rotary Blade, Fixed Wing, Hybrid
2) By Propulsion Type: Heat Engine, Electrical Engine, Jet Engines, Other Propulsion Types
3) By Application: Industrial, Terrestrial Imagery And Mapping, Precision Agriculture, Inspection And Monitoring, Other Applications
4) End User: Agriculture, Construction And Infrastructure Industry, Media And Entertainment, Logistics And Transportation, Defense And Military, Others End Users
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Regional Insights –
North America was the largest region in the drones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the drones market are Sony Group Corporation, Lockheed Martin Corporation, Intel Corporation, BAE Systems plc, Leonardo S.p.A., Textron Inc., Northrop Grumman Corporation, Elbit Systems Ltd., Saab AB, General Atomics Aeronautical Systems Inc., FLIR Systems Inc., AgEagle Aerial Systems Inc., SZ DJI Technology Co. Ltd., Kratos Defense & Security Solutions Inc., Insitu Inc., Yuneec International Co. Ltd., AeroVironment Inc., Autel Robotics Co. Ltd., Parrot Drones SAS, Microdrones GmbH, Aereon Group LLC, Skydio Inc., Delair SAS, Terra Drone Corporation, PrecisionHawk Inc., EHang Holdings Limited
Table of Contents
1. Executive Summary
2. Drones Market Report Structure
3. Drones Market Trends And Strategies
4. Drones Market – Macro Economic Scenario
5. Drones Market Size And Growth
…..
27. Drones Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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