Industry Background:
Growing technological advancements, as well as a growing awareness about unmanned aerial vehicles, will generate significant demand over the forecasted period. Also, growing applications in the agriculture and defense-related applications will show significant business growth over the forecasted period. Drones are referred to an aircraft with or without a human pilot which operates through onboard computers or remote control. Increasing practice by armed forces as loitering munition, patrolling of naval borders, rising inclination towards modern warfare technologies in key countries and exemptions given by various governing bodies such as Federal Aviation Administration (FAA), European Aviation Safety Agency (ESSA) and others, to permit the use of UAVs in numerous industries are expected to propelling the global drones market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | Airware, Inc. (United States), Aerobo (United States), Cyberhawk Innovations Ltd. (United Kingdom), Sky Futures Ltd. (United Kingdom), SenseFly Ltd. (Switzerland), DroneDeploy Inc. (United States), Sharper Shape Inc. (United States), SZ Dajiang Innovations Technology Co. Ltd. (China), 3D Robotics, Inc. (United States), AeroVironment, Inc. (United States), Parrot S.A. (France) and Yuneec International Co. Ltd. (China) |
According to AMA, the market for Drones is expected to register a CAGR of 10.38% during the forecast period to 2027. This growth is primarily driven by Growing Applications of Unmanned Arial Vehicles (UAVs) across the Globe and Rising Interest in the Travel Blogger Promotions in Touristy Areas.
Globally, a noticeable market trend is evident Adoption of Aerial Drones and Drone Technology in Agriculture, Construction, Insurance, Mining and Aggregates
The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Airware, Inc. (United States), Aerobo (United States), Cyberhawk Innovations Ltd. (United Kingdom), Sky Futures Ltd. (United Kingdom), SenseFly Ltd. (Switzerland), DroneDeploy Inc. (United States), Sharper Shape Inc. (United States), SZ Dajiang Innovations Technology Co. Ltd. (China), 3D Robotics, Inc. (United States), AeroVironment, Inc. (United States), Parrot S.A. (France) and Yuneec International Co. Ltd. (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
UAVs drone operations involve high risk thus, stringent regulations have been imposed by various governing bodies such as FAA, ESSA and others. Though, regulations vary country wise with some common restrictions stated below. The regulations bar drones to fly near sensitive locations such as airports, government offices and military warehouses among others. Moreover, drones must be flown within the line of sight with restriction on maximum altitude. Flying UAV drones over public places is restricted in many countries. and General Rule Flying Drone in The United States of America, "Register UAV with the FAA on the FAA Drone Zone website, fly a drone under 55 lbs., must pass an Aeronautical Knowledge Test also known as the Part 107 test at an FAA-approved knowledge testing center, must undergo Transportation Safety Administration (TSA) security screening, fly at or under 100 mph, never fly near other aircraft."
Influencing Trend:
Adoption of Aerial Drones and Drone Technology in Agriculture, Construction, Insurance, Mining and Aggregates and Increasing Inclusions of Sensors, Software, and AI Advancements
Market Growth Drivers:
Growing Applications of Unmanned Arial Vehicles (UAVs) across the Globe and Rising Interest in the Travel Blogger Promotions in Touristy Areas
Challenges:
Skilled Operators are required for Drone Operating with Prerequisites of Delicate Usage and Higher Operational as well as Manufacturing Complexity
Restraints:
Stringent Regulations for Long Range and Maximum Payload Drones and Comparatively Costlier Technology and Higher Post Purchase Maintenance
Opportunities:
Opportunities in Local Defense and Logistics Applications and Upsurging R&D Investments in Highly Advanced and Cheaper Drones
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Drones Market
- Analysis about New Entrants in Drones Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Drones Study Sheds Light on
The Drones Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Drones industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Drones industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.