The global small drone market size is expected to reach USD 35,009.4 million by 2027 while exhibiting a staggering 24.11% CAGR between 2020 and 2027. This is attributable to the increasing incidence of intrusion across borders and the rising military expenditure that is driving the demand for advanced small drones globally. Fortune Business Insights published this information in its latest report, titled, “Small Drone Market Size, Share & Industry Analysis, By Type (Fixed Wing, Rotary Wing, and Hybrid Wing), By End-use (Military & Defense, Consumer, and Commercial & Civil), By Maximum Take-off Weight (<5 Kg, 5-25 Kg, and 25-150 Kg), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 7,720.3 million in 2019 and is projected to showcase an exponential growth during the forecast period.
List of the Companies Profiled in
the Global Market for Small Drone:
- DJI
- 3D Robotics
- Parrot Drones
- AeroVironment Inc.
- Kespry
- Delair
- Textron
- Autel Robotics USA
- Yuneec
- Northrop Grumman
- BAE Systems
- Israel Aerospace Industries Ltd.
- Elbit Systems Ltd.
- Other Players
What does the Report Include?
The market
report includes a detailed assessment of various drivers and restraints,
opportunities, and challenges that the market will face during the projected
horizon. Additionally, the report provides comprehensive insights into the
regional developments of the market, affecting its growth during the forecast
period. It includes information sourced from the advice of expert professionals
from the industry by our research analysts using several research
methodologies. The competitive landscape offers further detailed insights into
strategies such as product launches, partnership, merger and acquisition, and
collaborations adopted by the companies to maintain market stronghold between
2020 and 2027.
DRIVING FACTORS
Increasing Military Expenditure to Promote
Growth
According to
the data by The Balance, the total military expenditure of the United States
Army was estimated to be around USD 934 billion in 2020. The increasing
spending on military and defense by the governments across the globe is likely
to boost the demand for advanced small drones across the globe. Additionally,
the rising skirmishes at international borders such as the India-China,
China-U.S. conflicts are expected to drive the global small drone market during
the forecast period.
Read Detailed Summary of This Research Report:
https://www.fortunebusinessinsights.com/small-drones-market-102227
COVID-19 IMPACT
High Demand for Small Drones across
Healthcare Facilities amid COVID-19 to Surge Demand
The COVID-19
pandemic has led to every vital resource rallying around the healthcare
industry to contain its widespread effect across the globe. This has led to an
increased demand for advanced small drones for inspection purposes and to
collect real-time data across the highly infected places. This is expected to
boost the market growth in the near future.
REGIONAL INSIGHTS
Increasing Focus on Military Upgradation in
North America to Augment Growth
Among all
the regions, North America is expected to remain at the forefront and hold the
highest position in the global small drone market during the forecast period.
This is attributable to the increasing focus by the U.S. Defense Services to
upgrade its military that will propel the demand for advanced small drones fro
surveillance purposes in the region. North America stood at USD 2933.7 million
in 2019.
The market
in Europe is expected to showcase considerable growth backed by the surging
demand for aerial photography, crop monitoring, and precise farming with the
aid of technologically advanced small drones in the region between 2020 and
2027.
COMPETITIVE LANDSCAPE
Eminent Companies Focus on Product
Development to Brighten Market Prospects
The global
small drone market is consolidated by the presence of key players that are
focusing on developing advanced small drones to cater to the growing demand
from industrial applications such as healthcare, military, and aerospace.
Additionally, the other major companies are adopting strategies such as
partnership, merger and acquisition, and collaboration to maintain their
presence that will bode well for the market growth in the forthcoming years.
INDUSTRY DEVELOPMENT:
- January 2020 – Schiebel Corporation deployed CAMCOPTER
S-100 as a measure to provide critical information during the Kim river toxic
pollution crisis across Malaysia. This development is expected to boost its
market values in the forthcoming years.
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/small-drones-market-9611
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