Global Drones Market Is Anticipated To Reach US$ 30 Bn by 2022 and US$ 279 Bn by the End of 2032: Fact.MR Study
According to
Fact.MR's latest analysis, the drone industry is predicted to develop at a CAGR
of 25% between 2022 and 2032, anticipated to reach US$ 279 Bn. Drone technology
aimed at supplying precision-based, guided weapons is causing important
advancements in the defense sector, and is likely to be the backbone of global
market growth.
From 2017 to
2021, the industry experienced an impressive incline at a CAGR of 23.5%. During
the COVID-19 pandemic, prospects dimmed across certain sectors, including
manufacturing and hospitality, while deployment for general surveillance
purposes, especially to check whether individuals adhered to lockdown norms,
increased dramatically.
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The fatal mix of stealth capabilities and enhanced video imagery is providing developed-country militaries with drones capable of wreaking considerable harm on enemy territory. Emerging nations and war-torn areas, such as Syria, are innovating and employing cost-cutting techniques, such as the employment of cheap, commercial quadcopters outfitted with improvised and low-intensity explosives in their military operations.
Key Takeaways from the Market Study
·
By product, military drones to accumulate 55%
market revenue in 2022
·
Construction industry to emerge as an
opportunistic application sector, expanding at an 18% CAGR
·
U.S to account for nearly 2 out of 5 drone sales
in 2022 and beyond
·
China to emerge as the most opportunistic
market, capturing a revenue share of 45%
·
Global drone market is expected to be valued at
US$ 30 Bn by the end of 2022
Competitive Landscape
The drone
business is expanding rapidly, with industry leaders like as DJI and Parrot
pursuing autonomy in all of their drone features and functions. Frontrunners in
the drone sector appear to be focusing on R&D and collaborative
collaborations.
·
DJI Technology Co. Ltd, a Chinese business,
continues to dominate the drone industry landscape across all drone product
categories, including software, drone aircraft, and payload. Its brisk growth
can be ascribed to its unique product development and enterprise channel
relationships.
·
For example, in 2018, the corporation produced
two enterprise drone products aimed at the industrial space, known as the
Phantom 4 RTK and the Mavic 2 Enterprise
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Key Segments Covered in the Drone Market
Report
- Product
- Commercial Drone
- Military Drone
- Payload
- Drones Upto 25 Kg
- Drones from 25 Kg - 150 Kg
- Drones from 150 Kg - 600
Kg
- Drones Above 600 Kg
- Application
- Aerial Surveying &
Photography Drones
- Agriculture Drones
- Construction Drones
- Film and Television Drones
- Border Security Drones
- Combat Operations Drones
- Search and Rescue Drones
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What are the Growth Prospects for U.S.
Drone Market?
U.S. held
the largest market share in terms of volume in 2020, accounting for approximately
37%, and is expected to grow significantly over the next ten years as a result
of favorable government initiatives, advancements in drone technology, and
growing demand from businesses across various industries.
Furthermore, the Federal Aviation Administration (FAA) in the United States has issued new regulations to give more coherent and consistent guidance for the legal and safe operation of Unmanned Aerial Vehicles (UAVs) in commercial environments. These laws and regulations are intended to lower entry barriers and boost product uptake in the United States.
* This article was originally published here
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