The demand for drone motors market will witness an upward trend on the back of competitive drone motor prices and spurring sales of drones. Various countries are adopting them for myriad security applications. In addition, the growing demand for drones in various applications like agriculture, military, oil & gas and forestry is anticipated to create ample opportunities for the players operating in the drone motors market.
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Amid the outbreak, drones are being used to monitor stringency with which lockdowns are being enforced. Therefore, it is estimated that drone motor sales in the aftermarket will increase during the pandemic. Moreover, the adoption of drone motor kits is increasing rapidly in retail and logistics companies in order to provide consumers with quickest product delivery. This will reinforce demand for drone motors.
Drone Motors Market Product Type Insights
The multi-rotor drone segment stayed in the lead in the year 2024, capturing more than 84% of the market share, reaching a market valuation of US$ ~510 Mn. These drones are made of a central body having multiple-rotors which equips the drone motor controller with a higher degree of control over its position. It also ensures greater maneuverability over other drones and can perform vertical takeoffs and landings in any open space which makes them ideal for various applications. This, in turn, is anticipated to increase the demand for multi-rotor drones, thus supporting the growth of drone motors market. Furthermore, multi-rotor drones have gained acceptance owing to their relatively low prices, ease-of-use and significant payload capacity over other drones. This is foreseen to reinforce demand for drone motors over the forecast period.
Drone Motors Market Regional Insights:
North America dominated the global drone motors market in 2019 and in terms of value as well as volume over the forecast period. The region is estimated to grow at an astounding CAGR of 27.2% during the forecast period. Increasing use of drones for intelligence and surveillance activities in the USA is expected to propel the growth of drone motor market.
Moreover, the adoption of drones in the construction sector is rising as US laws require construction companies to inspect their sites on a regular basis. Therefore, companies are leveraging the use of drones to inspect the sites, which in turn has led to high growth of drone motor market. Based on the above mentioned facts, North America is anticipated to create an absolute $ opportunity of US$ 2.2 Bn during the forecast period 2024-2030.
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The Drone Motor Market research answers important questions, including the following:
- Why Drone Motor Market players are focusing on the business expansion in region?
- Which regulatory authorities have granted approval to the application of Drone Motor Market
- What are the pros and cons of the Drone Motor Market the environment?
- Why players are targeting the production of segment?
- What are the strategies implemented by emerging players in the global Drone Motor Market?
The Drone Motor Market report serves the readers with the following data:
- In-depth analysis of supply-side and demand-side trends.
- Direct and indirect impacts of the growth of relevant markets on the Drone Motor
- Importance of segment in various regions.
- Accurate Y-o-Y growth of the global Drone Motor
- Consumption trends among individuals across the globe.
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