Drones Market 2019 to Strengthen Its Position in Global Industry at 20.18% CAGR | Regional Forecast to 2028
Drones Market Research Report 2019: Industry Size, Share, Trends, Growth, Regional Analysis and Segmentation By Type , Capability, Capacity, Application, Component and Region –Global Forecast to 2028
Pune , India – January 15, 2019 /MarketersMedia/ —
Global Drones Market 2018-2028 : Broadening Application Range of Drones to Spur the Growth of the Global Drones Market
Market Research Future (MRFR) perceives the growth of the global drones market to be impressive at a CAGR of 20.18% over the forecast period of 2018-2023. The global drones market is likely to reach a valuation of USD 129,300 Mn by the end of 2023. Equipped with a broad range of systems such as airframe, engine, autopilot, sensor package, communication link, and navigation systems, drones can perform a myriad of highly complex tasks. Tremendous investment has been pouring in on drones by the governments of multiple countries as well as huge investments are being made by private organizations which augur the growth of the market.
Drones are penetrating various industry verticals such as aviation, construction, telecom, logistics, oil & gas, and others which is further aiding the proliferation of the global drones market. In addition, numerous use cases of drones are being recognized such as cargo transportation, passenger carriage, and real-time monitoring is likely to present lucrative growth opportunities in the global drones market. The drones market is experiencing exponential growth on account of massive investment in R&D activities to develop new design and technology. A major area of focus of R&D activities is on overcoming issues associated with data processing and expansion of flight range and endurance.
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Competitive Landscape
The notable players in the global drones market include-
• Parrot SA
• DJI
• AgEagle Aerial Systems
• Agribotix LLC
• HoneyComb Corporation
• AeroVironment Inc.
• Aeryon Labs Inc.
• Delair SAS
• PrecisionHawk
• 3D Robotics Inc.
Recent Industry Updates
In January 2019, new drone safety regulations were introduced in Canada’s drone industry. The amendments to the existing regulations were made after realizing the need for new rules given the massive popularity of drones which was recognized by both the government and the industry.
DJI expects its sales will reach RMB 18 billion ($2.7 billion) in 2017. Sales in 2016 increased by 65% year on year breaking the RMB 1 billion point. Consumer drones accounted for 80% of the profit.
In 2018, DJI is planning on expanding its staff with special attention to the agriculture sector. The company has recently upped its stakes in the agricultural drone area by lowering the price of its drones by 12%
January 2018, Drone deliveries: Tech giants using Australia as a drone testbed, including Google’s Project Wing. Alphabet’s research and development facility, formerly known as Google X, launched two commercial drone delivery trials in Australia. The trials, as part of the company’s Project Wing, have seen deliveries of Guzman y Gomez Mexican food and healthcare and over-the-counter medicine from Chemist Warehouse delivered to residents in Queanbeyan, New South Wales, and Canberra.
January 2018, Indian Railways to go hi-tech, will soon use drones for crowd management at stations. Indian Railways is all set to get eyes in the sky as it prepares to launch drones over stations across the country in a bid to regulate passengers. The drones are expected to help officials control crowds at railway stations better – especially during festival seasons when major cities see a rise in footfall. The bird’s eye view will help in better regulation of people and identify potentially dangerous situations in and around stations in the country. A trial has already been completed and Railways has put these machines to use in three divisions in Jabalpur
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Segmentation
The global drones market has been segmented based on type, capability, capacity, application, and component.
By type, the global drones market has been segmented into fixed wing and multi rotor. The fixed wing segment is the largest segment.
By capability, the global drones market has been segmented into passenger drones and cargo drones. The passenger drones segment is the leading segment.
By capacity, the global drones market has been segmented into up to 100 kg and over 100 kg. The up to 100kg segment is the leading segment as most drones are manufactured in that category.
By application, the global drones market has been segmented into agriculture and industry. The agriculture segment has been further segmented into filed mapping, crop scouting, agricultural photography, precise agriculture management, agriculture insurance inspection, crop spraying, and others. The industry segment is dominating the market as they find extensive application in a wide of industries. The industry segment has been further segmented into construction, oil& gas, logistics, mining, aviation, telecom, and others.
By component, the global drones market has been segmented into airframe, payload, guidance navigation & control, and propulsion system. The airframe segment accounts for the largest share of the global market.
Regional Analysis
By region, the global drones market has been segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). North America is the largest market for drones. The use of drones in military and homeland security has increased considerably in recent years. The US is at the forefront of the drones market in terms of technology. The region generates high demand for drones where the deployment of drones for commercial purposes is quite high. Europe too is a significant growth pocket and accounts for the second largest share of the global drones market. Asia Pacific (APAC) is likely to post the fastest growth over the forecast period. Growing socio-political difference between various APAC countries, territorial conflicts, and rising insurgency rates in the region stimulate the growth of the market in APAC. Also, a number of countries in APAC have extravagant defense budgets which make them a prominent destination for military equipment manufacturers.
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