Drones Market Size

Global Drones Market Overview

Drones Market Size was valued at USD 25.9 billion in 2022. The Drone market industry is projected to grow from USD 29.6037 Billion in 2024 to USD 66.012 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.30% during the forecast period (2024 - 2030). The rising frequency of cervical spondylosis among corporate workers and the increasing occurrences of cervical injuries in vehicle accidents are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Drone Market Trends

• Increasing demand for photographic surveillance to boost the market growth

Drones are also used for various other tasks, including public service missions, aerial photography and videography, internet access in remote locations, and animal surveying and documentation. A few companies primarily offer small drones for agriculture, aerial photography, and data collection.

Due to the growing acceptance of drones in military operations, suppliers are now making drones that can be used for various commercial purposes. Aerial photography, cinematography, and special effects are done with drones in the media and entertainment industries. As drones begin collaborating with other technologies, more changes will manifest. This innovation enables drones to recognize objects in the air and analyze and record data on the ground. Computer vision operates with high performance performed with neural networks and onboard image processing. They could work with 3D printers, robots, and other technologies with AI, sensor analysis, data processing, and drone network capabilities. Due to new product manufacturing innovations, the consumer drone market revenue has experienced a boom.

Additionally, most recent drone model technologies offer high-range control systems that are dependable, safe, and efficient and provide better speed and navigation systems connected to the user's device. Due to the potential demand for drones in nations like Canada and the U.S., North America is the most important regional market ly. S. The automation of consumer drones is another way that manufacturers use AI. In February 2022, for instance, Phystech Ventures, a U. S., a New York City-based venture capital firm, reported that USD 5 billion had been invested in drone technology over the previous two years has enhanced the Drone market CAGR across the globe in the recent years.

DJI: Introduced the "Mavic 3 Enterprise Dual," a new drone with dual thermal and visible cameras designed for industrial inspections and public safety applications. (January 2024)

Drone Market Segment Insights

Drone Type Insights

The drone market segmentation, based on drone type, includes fixed-wing drones, rotary blade drones, and hybrid drones. The fixed-wing drone segment held the majority share in 2022, contributing to the drone market revenue. This is primarily Because it can fly for a longer period at high altitudes, and demand for this segment is increasing. Instead, due to its capacity to consistently maintain the visual on a single target, the multirotor segment is anticipated to dominate Drones Market Trends during the forecast period. It may remain for a longer period.

Skydio: Unveiled the "Skydio X2E," a rugged autonomous drone featuring advanced collision avoidance and object tracking, for enterprise applications like search and rescue. (November 2023)

For instance,September 2022: The U. S. Seven of DJI's new drone models have received Declarations of Compliance approval from the Federal Aviation Administration (FAA). Leading manufacturer of drones for use by civilians, DJI is based in China.

Drone Industry Type Insights

The Drones market segmentation, based on type, includes Oil &Gas, Power, and Renewable. The Oil & Gas segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is because these are used in the oil and gas sector for many different tasks, such as inspecting offshore platforms, processing machinery, finding leaks in pipelines and other midstream assets, responding to emergencies, and handling materials. Drones can collect data more efficiently with the help of image sensors or cameras that have visual (RGB), infrared (IR), and lidar (light detection and ranging) capabilities. Additionally, drones equipped with gas detectors can gather information about emissions. These rising Oil & Gas drones positively impact market growth.

Drones Application Insights

The Drone market data has been bifurcated by Application into Inspection, Leak and Spillage Response and Security and Surveillance. The Inspection and Leak and Spillage Response and Security segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period 2022-2030. Due to new regulations issued by the Federal Aviation Administration that have made it possible for energy and oil and gas companies to use unarmed aerial vehicles, it is anticipated that the inspection and maintenance segment will hold the largest market share during the forecast period.

Autel Robotics: Launched the "Evo Lite+," a lightweight and foldable drone with long range and obstacle avoidance capabilities, targeting recreational and professional users. (December 2023)

Drone Technology Insights

Based on Technology, the Drones industry has been segmented into Hardware and Software. The drone’s software is made to direct it as it flies from point A to point B. The Software segment held the largest segment share in 2022The drone's software component develops into a very complex system to comprehend and connect all of the necessary information. The drone's software runs in a system of layers. The layers are also separated into tiers operating during various time slots. For the drone to function and behave accurately, the layers must be properly combined to control the flight patterns, altitude, and other crucial information. The term "flight stack" or "autopilot" refers to this arrangement of layers.

Figure 2:  Drones Market by Technology, 2022 & 2030 (USD billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Drone Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific Drone market accounted for USD 11.8 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing. It is anticipated that the region's recent revisions to drone legislation will spur market expansion. China has become the world's leading producer of drones over the past six years. At the beginning of 2019, there were roughly 1,200 drone manufacturers in China, which controls more than 70% of the civilian drone market.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  DRONE MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Drones Industry accounts for the second-largest market share due to the demand anticipated to be driven by several government initiatives to promote this technology investments and an increase in defense spending because of the rise in terrorism. Further, the Germany Drone market held the largest market share, and the UK Drone market was the fastest-growing market in the European region.

The North America Drone Market is expected to grow at the fastest CAGR from 2022 to 2030. They are being used more frequently in the commercial sector for various operational purposes, such as delivering goods to customers at their specific locations, which is a major factor in the growth of the North American market. Additionally, it is anticipated that numerous manufacturing firms and the growth in research and development will increase the number of investment opportunities for major players in the North American UAV drone market during the anticipated period. Moreover, the US Drone market held the largest market share, and the Canada Drone market was the fastest-growing market in the North American region.

Recent News:

Garuda Aerospace, an unmanned aerial vehicle manufacturer, made news on Wednesday with the introduction of its latest product, 'Droni.' This foldable and portable drone, priced at Rs 85,000 as an introductory offer, is specifically intended for personal usage and aimed at photography aficionados. Recognizing the growing popularity of aerial images in photography and filmmaking, the business presents 'Droni', a cutting-edge device that combines ease and quality.

DJI plans to deploy the DJI Dock 2 in 2024. This lightweight "drone in a box" includes the DJI Matrice 3D/3TD drone and is inexpensive, easy to setup, and launch. Automated aerial missions are compatible with DJI FlightHub 2 and may be managed and tracked remotely via the cloud. As a whole enterprise solution. Drone manufacturer Marut Drones launched their new product, the Seedcopter 2.0, in 2023, making it India's first reforestation drone. The business announced the availability of Seedcopter services to corporate clients, allowing them to actively participate in CSR and forestry initiatives.

Drone Key Market Players & Competitive Insights

Major market players are spending much money on R&D to increase their product lines, which will help the Drone market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Drone industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the  Drone industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, the Drone industry has provided medicine with some of the most significant benefits. The Drone market major player such as Microdrones (Germany), DJI (China), Aibotix GmbH Limited (UK), Drone America (US), Draganfly Innovations Inc. (US), and others are working on expanding the market demand by investing in research and development activities.

DJI (China) Every dream is rooted in creativity. Every concept and innovative development that alters the course of history begins with the creative vision of gifted creators. At DJI, we provide these creators with the necessary resources to realize their concepts. We achieve this by putting an unmatched amount of effort into R&D, fostering constant innovation and curiosity, and concentrating on turning complicated technology into simple gadgets.

Also, Microdrones (Germany) Microdrones' past is a tale of enduring innovation, devoted friendship, and genuine aviation passion. It's also a tale of integration, which is one of Microdrones' greatest assets, and how we've combined the best components to create a whole that is greater than the sum of its parts. Discover a brief history of Microdrones and GeoCue and how these innovative businesses collaborate to help lead the digitalization of the geospatial industries with potent software, tools, workflows, and support that make drone LiDAR and photogrammetry more widely used.

PrecisionHawk: Announced a new software platform with AI-powered data analytics for drone-collected imagery, improving efficiency and insights for agricultural customers. (October 2023)

DroneDeploy: Launched a cloud-based drone fleet management platform offering advanced mission planning, data processing, and analytics tools. (September 2023)

Key Companies in the Drone market include

• Microdrones (Germany)


• DJI (China)


• Aibotix GmbH Limited (UK)


• Drone America (US)


• Draganfly Innovations Inc. (US)


• ING Robotic Aviation (Canada)


• Aeryon Labs Plc. (UK)


• AeroVironment Inc. (US)


• Ascending Technologies Inc. (Canada)

Drone Industry Developments

For instance,July 2022 Flytrex. Received permission from the FAA to expand its business services in Texas and North Carolina. It is an Israeli drone delivery company. The FAA also permitted them to extend their delivery range to two nautical miles. Additionally, the company claimed that it increased its customer base from 40,000 to 100,000 in the United States, demonstrating the impact of advancement on the sector. The market for drone services has expanded quickly, leading many businesses in various sectors to begin investing in drones. Companies that buy drones hope that by analyzing the data they gather, they will be able to cut costs, increase sales, and make wiser decisions.

For instance, August 2023- The Tamil Nadu Industrial Development Corporation, the nodal agency for Tamil Nadu Defense Industrial Corridor implementation, will establish India's first Unmanned Aerial Systems (Drone) Common Testing Centre under the Defense Testing Infrastructure Scheme (DTIS). An official press release lately stated that the test centre that would be built on a plot of land measuring approximately 2.3 acres at the SIPCOT Industrial Park, Vallam Vadagal close to Sriperumbudur, would allow the State to significantly contribute to the nation's self-reliance in the aerospace and defense sector.

For instance, August 2023- The newest Heron Mark 2 drones that have attack capability and can conduct border surveillance along both China's and Pakistan's borders in a single sortie, have been introduced by the Indian Air Force. The four brand-new Heron Mark-2 drones have been stationed at a forward air base within the northern sector and are capable of carrying long-range missiles and other military systems. The Heron Mark-2's introduction gives the IAF's surveillance capabilities a significant boost. The drone will be employed for many different tasks, such as information collection, border patrol, and the counter-insurgency operations.

For instance, August 2023- The demand for domestic avionics systems has grown critical with the exponential development in drone usage across industries including industrial applications, agriculture, logistics, and defense. The Indian Institute of Science has achieved a substantial advancement in the field of unmanned aerial systems in an effort to lessen reliance on foreign drone technology. This accomplishment is the first step in India's effort to locally assemble drone avionics equipment. The drone avionics projects in the future will be less dependent on microcontrollers thanks to locally produced technologies. Through this action, India will become independent in terms of the UAV technology and save millions of dollars in electronics imports over time. This innovation will open the door for more developments in this area and support the expansion of India's drone ecosystem.

Drone Market Segmentation

Drone Industry Type Outlook

• Fixed-Wing Drone


• Rotary Blade Drone


• Hybrid Drone

Drones by Industry Type Outlook

• Oil & Gas


• and Power


• Renewable

Drones by Application Outlook

• Inspection and Leak and Spillage Response and Security


• Surveillance

Drones by Technology Outlook

• Hardware


• Software

Drone Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America