From past few years, drones were often used for military practices such as anti-aircraft target practice, intelligence gathering and others. Now-a-days drones discovered their wide range of application in commercial sector such as traffic monitoring, weather monitoring, fire-fighting, search and rescue operations, drone-based photography, as well as agriculture and delivery services. With the emerging market of drones, drone education is also expanding. Various universities across the globe are now offering bachelor degree in Unmanned Systems Applications, these emerging trends in the drone technology will further spur the demand for drones across the globe.

Market Size & Forecast

Global drone market is anticipated to reach USD 25 billion by the end of 2023 witnessing a compound annual growth rate of 18.2% over the forecast period owing to the significant use of drones in various sectors.

Geographically, North America is anticipated to have the upper hand over the global drone market owing to the increasing production and wide application of drones in commercial sector. Europe is estimated to be most attractive market in terms of profit over the forecast period. In Canada, drones are mainly used for atmospheric monitoring including atmospheric gas sampling and oceanographic research.

In terms of volume, nearly 4 million commercial drones are sold in 2015. The number of sold units is anticipated to expand exponentially over the forecast period reaching 18 million a year by 2023.

Request Report Sample@ https://www.researchnester.com/sample-request/2/rep-id-208

Drones are widely used for pest detection, search and rescue of mammal species, volcanic monitoring, pollution monitoring and others. The growing trend of adoption of drones in various activities will establish numerous opportunities for the drone’s manufacturers in the global market.

Drone manufacturers in the market are focused on providing comprehensive design with functionality and safety to ensure the best performance and creative appearance.

Market Segmentation

By Product Type

Deep dive study has been carried out on the following product segments:-

Commercial Drones
Fixed Wing Drones
VTOL Drones
Rotary Blade Drones
Nano Drones
Hybrid Drones
Military Drones
Small Tactical Unmanned Aircraft Systems (STUAS)
Medium Altitude Long Endurance (MALE) UAVs
High Altitude Long Endurance (HALE) UAVs
Unmanned Combat Air Systems (UCAS)
By Payload

Depending upon the payload capacity of drones, the market is further segmented into following categories:-

Up to 25 kg ( commercial drones)
Up to 150 kg ( commercial drones)
Up to 600 kg (military drones)
Above 600 kg (military drones)
By Component

On the basis of component used in drones, thorough study has been carried out on the following categories:-

Camera
Battery
Propulsion System
Sensors
Navigation System
Others (Transmitter, Range Extender, Frame)
By Application

By end use application, the market can be segmented in to following categories:-

Military Activities
Law Enforcement
Precision Agriculture
Media and Entertainment
Retail
Inspection and Monitoring
Surveying and Mapping
Do it Yourself (DIY) Drones
Education
Growth Drivers and Challenges

Increasing use of drones in commercial sectors such as media and entertainment, inspection, monitoring, surveying and mapping is fuelling the demand for drones across the globe

Government all over the world are also implementing drones in public safety services, drones are widely used by law and enforcement agencies for surveillance. Drones are also used in infrastructure, scientific research and R&D, environmental studies, and disaster management activities. The wide range of application of drone will further intensify the market growth over the forecast period.

Request Table of Contents Here: https://www.researchnester.com/toc-request/1/rep-id-208

E-commerce and retail industry is working on the using drones in order to deliver product to the customers in a minimum time. However such projects are held back by government bodies in order to ensure public safety. Additionally, Drones are widely used in agriculture sector to produce higher yield by regular crop monitoring. Key market players are making huge investment in R&D activities to develop solar powered drones for agricultural application. This will further boost the demand for drones in agricultural sector. Government regulations regarding the violation of privacy policies are considered to be the major restraint in the global drone market.

This report also provides the existing competitive scenario of some of the key players of the global drones market which includes company profiling of AeroVironment Inc., 3D Robotics Inc., AgEagle Aerial Systems Inc., Agribotix LLC, Airware, DJI Innovations, HoneyComb Corp., Precision Hawk Inc., senseFly, Skycatch Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global drones market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

To know more information, click on the link below: https://www.researchnester.com/reports/drone-market-global-demand-growth-analysis-opportunity-outlook-2023/208

Contact for more Info:

Ajay Daniel

Email: [email protected]

U.S. +1 646 586 9123

U.K. +44 203 608 5919