Global Drone Market Size, Share, Opportunities, And Trends By Product Type (Fixed Wing Drone, Rotary Blade Drone, Hybrid Drone), By Application (Commercial Drone, Consumer Drone), And By Geography - Forecasts From 2023 To 2028

The drone market is projected to expand at a high CAGR over the forecast period.

Global Drone Market Overview:

Drones are regarded as pilotless platforms that can be operated independently by a programmed onboard computer or remotely supervised by a human worker. They have the enormous potential to change infrastructure in both urban and rural areas. They were initially developed for military and aeronautical purposes, but because of the increased security and effectiveness they provide, they have found their way into society. The market for rotary blade drones is anticipated to expand dramatically. The factors driving the rotary blade drone market include the advancement of unmanned aerial vehicles (UAV) drones, increased drone affordability, and a rise in demand for aerodynamic UAV drones. For instance, an AI-driven multi-role, sophisticated, and long-endurance drone for strategic missions in high-altitude areas is being developed by state-run aerospace behemoth Hindustan Aeronautics Ltd (HAL), which was unveiled in August 2022. The rotary-wing drone will be able to transport a 40-kilogram payload, including sensors and missiles.

Global Drone Market Drivers:

• Drones for military

Key reasons propelling the global drone market growth include increasing demand for drones in military applications, sophisticated drone development, and their expanding usage in numerous industries. For more than ten years, military forces from several nations have used drones. Military budgets are expected to increase their spending on drone technology, providing potential for growth for certain drone manufacturers and software developers. For Instance, in November 2022, to better precisely target enemy targets with long-range, high-volume weaponry, the Indian army began acquiring various drones and surveillance tools. The RFPs (request for proposals) for purchasing 80 micro remotely piloted aircraft systems (RPAS) and 10 runway-independent RPAS were issued.

• Drones for delivering packages

Over the past few years, manufacturers of drone technology have worked very hard to advance the technologies for delivering packages. Online, there have been a significant number of start-ups offering packages delivered by drone. Consumers will have the simple choice of using drones to deliver their packages in the future of drone technology. The user experience will be improved, delivery times will be shortened, and packaging standards will rise thanks to research and development in drone delivery technology. For instance, in November 2022, nearly ten years after Jeff Bezos proposed drone delivery, Amazon claims it is now prepared to begin dropping things into the sky. The most recent drone model drops packages from a distance of 12 feet. The drone has a diameter of around five and a half feet and weighs 80 pounds. Deliveries must fit in a single box roughly the size of a shoe box and can only transport packages weighing less than five pounds. The worldwide drone market is anticipated to expand quickly over the coming years as demand for drones for package delivery increases.

• As the energy industry's limits are loosened, the drone market will expand.

Drones are used in the oil and gas energy business for many tasks, including inspecting offshore platforms, refining machinery, finding leaks in midstream assets, responding to emergencies, and moving materials. At industrial locations, drones have traditionally been flown within a visual line of sight (VLOS), where the operator on the ground can see the drone. Drones that operate beyond the visual line of sight (BVLOS) provide more coverage by extending their range past the operator's line of sight. Due to regulatory uncertainty regarding potential incursions, the drone's BVLOS capabilities have hardly been used for commercial deployment. For instance, in July 2022, more than 40 power generation facilities can now be inspected from above by Dominion Energy thanks to a waiver that makes it safer and more efficient for them to carry out the routine inspections that are necessary for these plants. The waiver used a drone made by Skydio's sophisticated obstacle-avoidance features, enabling Dominion to fly the drone securely close to buildings.

Global Drone Market Key Developments:

• October 2022: Mahendra Singh Dhoni, an Indian cricketer, has unveiled the "Droni" quadcopter consumer camera drone. Garuda Aerospace makes the made-in-India camera drone with cutting-edge technologies. The native Droni drone can be utilized for several types of surveillance. In terms of technology and construction, it is effective, smooth, and of excellent quality.
• October 2022: AIROBOTICS Ltd., a leading provider of autonomous unmanned aircraft systems (UAS) and automated data analysis and visualization platforms, announced that it will acquire the intellectual property, technical systems, and operations of Iron-Drone Ltd. Airobotics intends to purchase Iron Drone, subject to the fulfilment of all legal terms and circumstances, to incorporate Iron-Drone counter-drone technology with the Company's networked Optimus Urban Drone Infrastructure.
• October 2022: DroneEntry, a Canadian software company, has been bought by DroneAcharya Aerial Innovations Limited to address the projected increase in drones in the sky. One such system, called DroneEntry, will make it possible to manage drone pilot profiles, hire people, and manage projects. Industry standardization is urgently needed, and this portal strives to achieve that.

Covid-19 Impact

As a result of corresponding isolation in major countries, there have been significant increases in unemployment, slowdowns in supply chains, and decreases in demand for commodities, leading to a global downturn in various markets. It's crucial to remember that commercial drones have also benefited from the epidemic owing to their use in medicine and other automated solutions, as well as the fact that Zipline and Wing were able to expand and provide their solutions more quickly than anticipated. As a result, the sector as a whole is likely to experience the pandemic's economic effects, though different parts of it may do so in very different ways.

Global Drone Market Scope:

Segmentation:

• By Product Type
  • Fixed Wing Drone
  • Rotary Blade Drone
  • Hybrid Drone
• By Application
  • Commercial Drone
    • Government
    • Energy
    • Military and Defense
    • Construction
    • Agriculture
    • Security and surveillance
    • Others
  • Consumer Drone
    • Hobby and Gaming
    • Aerial Photography
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • Isreal
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others