Overview and Scope
Small drones refer to drones that travel up to 90 miles and are used primarily for espionage and intelligence gathering. The wings of these drones are usually fixed and can be easily lifted by the arm and thrown into the air.
Sizing and Forecast
The small drone market size has grown rapidly in recent years. It will grow from $5.16 billion in 2023 to $5.84 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to consumer and hobbyist adoption, cost reduction in drone manufacturing, regulatory framework development, increased awareness of drone capabilities, rise of drone racing, integration into agriculture..
The small drone market size is expected to see rapid growth in the next few years. It will grow to $9.43 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to urban air mobility, package delivery services, environmental monitoring, emergency medical services, surveillance and border security, education and training programs.. Major trends in the forecast period include integration of artificial intelligence, adoption in public safety, consumer photography drones, drone swarming technology, advancements in camera technology..
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Segmentation & Regional Insights
The small drone market covered in this report is segmented –
1) By Type: Fixed Wing, Rotary Wing
2) By Operation: Remotely Piloted, Optionally Piloted, Fully Autonomous
3) By Power source: Fuel, Battery
4) By Application: Military, Commercial
Asia-Pacific was the largest region in the small drone market in 2023. Asia-Pacific is expected to be the fastest-growing region in the small drone market report during the forecast period. The regions covered in the small drone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising military and defense expenditure is expected to propel the growth of the small drone market going forward. Defense expenditure refers to all current and capital expenditure on the armed forces, including peacekeeping forces of defense ministries and other government agencies engaged in defense projects, and paramilitary forces when judged to be trained, equipped, and available for military operations. Small drones have improved military capabilities around the world in better reconnaissance, surveillance, and target acquisition, increased flexibility, reduced cost, improved situational awareness, crew safety, faster deployment, and others. For instance, according to the National Defense Magazine, a US-based industrial association, global military drone R&D and procurement spending would climb from an estimated $11.1 billion in 2020 to $14.3 billion in 2029, a nearly 30% increase. Spending on research and development is anticipated to increase from $3.2 billion in 2020 to $4 billion in 2029, while money for procurement is anticipated to increase from $7.9 billion in 2020 to roughly $10.3 billion by the end of the decade. Therefore, the rising military and defense expenditure is driving the growth of the small drone market.
Key Industry Players
Major companies operating in the small drone market report are Dai-Jing Innovations, Parrot SA, AeroVironment, Elbit Systems, Lockheed Martin Corporation, Israel Aerospace Industry Limited, BAE Systems PLC, 3D Robotics, Textron Inc., Saab AB, Delair, Yuneec International, Applied Aeronautics, The Boeing Company, Thales Group, Skydio, Autel Robotics, Airobotics, BRINC Drones LLC., Citadel Defense Company, Corvus Robotics, Dedrone, DroneDeploy, DroneUp, DroneSeed, DroneSense, Propeller Aero, SkyCatch, Skyword, Valqari, Volansi, WiBotic, Wing, Zipline, Censys, Inspired Flight, Skyfish, Hitec Commercial Solutions, Vantage Robotics, RangePro X8P, C-Astral Aerospace .
The small drone market report table of contents includes:
1. Executive Summary
2. Small Drone Market Characteristics
3. Small Drone Market Trends And Strategies
4. Small Drone Market – Macro Economic Scenario
5. Global Small Drone Market Size and Growth
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31. Global Small Drone Market Competitive Benchmarking
32. Global Small Drone Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Small Drone Market
34. Small Drone Market Future Outlook and Potential Analysis
35. Appendix
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