The report on the Drone Market provides a bird’s eye view of the current proceedings and the impact on the COVID-19 pandemic. Further, the report ponders over the various factors that are likely to impact the overall dynamics of the Drone Market once the COVID-19 pandemic subsides. The current trends, growth opportunities, restraining factors, and drivers are discussed in the report in detail.
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Drone or Unmanned Aerial Vehicles (UAVs) are frequently used for carrying out military operations. Nonetheless, these unmanned aircrafts are also being increasingly used for undertaking non-military affairs owing to their groundbreaking aerial capabilities. Unlike the traditional aircraft, drones can fly for longer durations. Moreover, they come in various price rang depending on the features. Demand for drones has been significantly high in recent years. As per a study conducted by Fact.MR the global drone market is expected to increase at an impressive CAGR of 22.8% during 2017 to 2024.
Drones are considered as innovative aerial vehicles that have exceptional combat capabilities, which is why they are being used by various countries for defense purposes. Currently, drones are playing an important part in countering anti-social activities and terrorism. Growing demand for precision technologies is expected to favor the global market for drones in the near future.
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However, risk of accidents and technical failures remain a major concern for manufacturers. This, in turn, is also acting as a bottleneck for the market and curtailing widespread adoption of drones. Further, stringent regulatory norms on drone use continue deter the growth of the market. North America is at the forefront of the global market. The region’s market is expected to remain highly lucrative throughout the forecast period, reflecting at a stellar CAGR in terms of value.
Key Segments of the Drone Market
Fact.MR’s study on the drone market offers information classified into four important segments: product, payload, application, and region.
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This market report proposes comprehensive data and information about the important market changing aspects and evolution structures related to these categories.
| Product | Payload | Application | Region |
| Commercial Drone | Upto 25 Kg | Aerial Surveying & Photography | North America |
| Military Drone | 25 Kg – 150 Kg | Agriculture | Latin America |
| 150 Kg – 600 Kg | Construction | Europe | |
| Above 600 Kg | Film and Television | Japan | |
| Border Security | APEJ | ||
| Combat Operations | MEA | ||
| Search and rescue |
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Competition Tracking
Key companies in the global market for drone include DJI, AeroVironment, Inc, CyPhy works Inc., 3D Robotics, Sentra, LLC, Agribiotix, LLC, AgEagle Aerial Systems, Skycatch, Inc., Airware, Precision Hawk Inc., and SenseFly SA.
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