The multirotor drone 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 completeperspective for thriving in the industrial automation software market.
Multirotor Drone 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 multirotor drone market size has grown rapidly in recent years. It will grow from $3.53 billion in 2023 to $4.17 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to expansion of commercial applications, cost reduction, data processing capabilities, environmental and conservation applications.
The multirotor drone market size is expected to see rapid growth in the next few years. It will grow to $8.39 billion in 2028 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to customization and specialization, environmental and disaster response use, safety enhancements, autonomous features development, payload advancements. Major trends in the forecast period include rapid prototyping and customization, environmental monitoring and conservation, safety and redundancy features, data processing and analytics, demand for autonomous functionality.
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Scope Of Multirotor Drone 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.
Multirotor Drone Market Overview
Market Drivers –
Increasing adoption of the multi-rotor by military bodies is expected to propel the growth of the multirotor drone market. Military bodies refer to the personnel involved in security forces to contain terror and counter the emerging challenges in defense and homeland security. Multi-rotors help in security and terrorism-related challenges and enhance the capabilities of security forces to stop terror. They help under various situations, from damaging the target to identifying unreachable locations. For instance, in May 2022, according to the US Department of Defense, the Switchblade 300 drone was created and constructed by AeroVironment, a US-based UAV manufacturing company for the US armed forces during the Russia-Ukraine war. Furthermore, according to a fact sheet issued by Whitehouse.gov in March 2022, the United States announced the provision of 100 tactical unmanned aerial systems to Ukraine as part of an $800 million military aid package. Therefore, increasing adoption of the multi-rotor by military bodies is driving the multirotor drone market.
Market Trends –
Technological advancements are the key trends gaining popularity in the multirotor drone market. The market has witnessed the use of advanced technology, including artificial intelligence and machine learning, which incorporate functions such as face recognition, fifth-generation network technology, and biological detection to identify threats and provide suggestive action. Major companies operating in multi-rotor drone are developing new technologies to sustain their position in the market. For instance, in January 2022, Advanced Aircraft Company, a US-based developer, and manufacturer of hybrid fuel-electric unmanned aircraft systems for defense applications, launched Hybrid-Electric HAMR UAS. The system has a multi-rotor design and a hybrid gas-electric propulsion system. The aircraft always receives the correct amount of gasoline since fuel injection is computer controlled. The mechanism automatically injects additional fuel during take-off and then leans out during flight, resulting in a more fuel-efficient long-endurance drone. It has an aerodynamic frame design as well.
The multirotor drone market covered in this report is segmented –
1) By Type: Quadcopters, Hexacopters, Tricopters, Octocopters
2) By Payload: Camera and Imaging Systems, Control Systems, Tracking Systems, Other payload
3) By Price Range: Budget, Medium, Premium
4) By Application: Surveillance, Inspection, and Monitoring, Mapping and Surveying, Aerial Photography, Other applications
5) By End-users: Commercial, Military and Government, Consumer
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Regional Insights –
North America was the largest region in the multirotor drone market in 2023. The regions covered in the multirotor drone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the multirotor drone market report are IdeaForge Technology Pvt. Ltd., AeroVironment Inc., SZ DJI Technology Co. Ltd., Autel Robotics, Draganfly Inc., Microdrones GmbH, Parrot Drone SAS, Australian UAV Pty. Ltd., Aero Systems West Inc., Centeye Inc., Embention Sistemas Inteligentes SA, 3D Robotics Inc., Yuneec International, EchoBlue Ltd., Skydio Inc., Delair, Elbit Systems Ltd., Aerix Drone, DJI Innovations, Lockheed Martin, Northrop Grumman, General Atomics, PrecisionHawk, Kratos Defense & Security Solutions, Aurora Flight Sciences, Impossible Aerospace, Hoverfly Technologies, Flyability, CyPhy Works, Altavian
Table of Contents
1. Executive Summary
2. Multirotor Drone Market Report Structure
3. Multirotor Drone Market Trends And Strategies
4. Multirotor Drone Market – Macro Economic Scenario
5. Multirotor Drone Market Size And Growth
…..
27. Multirotor Drone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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