The ‘Global Small Drones Market Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global small drones market, assessing the market on the basis of its segments like type, power source, size, application, and major region.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 13%
The market for small drones is being driven by increasing applications of small drones in the defence sector, to carry out various operations such as search and rescue, surveillance, and utility inspections, among others. In addition, the speed-flying ability and ability of small drones to carry heavy payloads are its unique features bolstering the small drones market growth. Over the forecast period, the anticipated increase in military expenditure of sovereign emerging economies and rising geopolitical tensions across various regions are expected to fuel the application of small drones in the defence sector. In line with this, the increasing integration of small drones with military avionics is further expanding opportunities for the market for small drones.
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Meanwhile, the heightened adoption of drones in the commercial power sector, to function in potentially dangerous areas, maintain assets, develop and repair equipment, monitor emissions, and carry out recovery from disaster, is further fuelling the small drones market. Additionally, the increasing demand for power and energy at a global level is boosting the incorporation of small drones across power plants. Furthermore, the escalating demand for small drones in sectors such as real estate and media and entertainment, is providing impetus to the market for small drones.
Industry Definition and Major Segments
A small drone refers to a miniaturised unmanned aerial vehicle (UAV) which is agile, hard to detect, and is easier for pilots to control. It has a variety of commercial and military-grade applications, owing to its stealth and utility. A small drone can perform similar functions as that of a normal-sized drone, but in a more compact manner.
Based on type, the market is segmented into:
- Fixed-Wing Drones
- Rotary-Wing Drones
- Hybrid/Transitional Drones
By power source, the market is categorised into:
- Lithium-Ion
- Solar Cell
- Fuel Cell
- Hybrid Cell
On the basis of size, the market is bifurcated into:
- Mini Drones
- Micro/Nano Drones
Based on application, the market is categorised into:
- Commercial
- Defence
On the basis of region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The key trends in the global small drones market include technological innovations in military drones aimed towards increasing service life, while making the device more compact and manoeuvrable. In addition, research and development activities by leading military drone manufacturers are bolstering the integration of artificial intelligence (AI), machine learning, and data analytical features in small drones, thereby increasing their efficiency and escalating applications of small drones in defence units.
Meanwhile, increasing usage of upgraded technology across the agriculture sector is a crucial trend in the small drones market. This can be attributed to the lower operational delays, high field capacity, and greater efficiency provided by small drones. The ability of small drones to work in harsh weather conditions is a notable feature which is boosting its application across various sectors.
In terms of geography, Asia Pacific accounts for a significant share of the small drones market. Modernisation of end use sectors across emerging economies such as India and China, is leading to a heightened application of small drones. Strong economic growth and initiatives of governments in the region towards improving infrastructure are enabling drone manufacturers escalate investments towards research and innovations.
Key Market Players
The major players in the global small drones market report are Aerovironment, Inc., Lockheed Martin Corporation, Aeronautics Ltd., Thales Group, Elbit Systems, Ltd., BAE Systems, Teledyne FLIR LLC, SZ DJI Technology Co., Ltd., Parrot Drone SAS, Parrot Drone SAS, Skydio, Inc, Delair, and Guangzhou Walkera Technology Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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