Press release
Global multirotor drones market is expected to register a remarkable CAGR over the forecast period 2017-2024
Market Size & Forecast
Global multi-rotor drones market is anticipated to witness a robust growth over the forecast period 2017-2024. Global multi-rotor drone market stood at valuation around USD 12.6 Billion in 2016. Multi-rotor drone market is expected to behold this positive growth in near future owing to their increased application in end-use industries.
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In terms of regions, the global multi-rotor drones market is mainly segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America region. Among all these regions, North America accounts for the highest market size followed by Europe. Due to economic decline and budget cuts, market of North America and Europe region is anticipated to witness a slow growth rate during the forecast period 2017-2024.
Asia Pacific multi-rotor drones market is expected to grow at highest CAGR during the forecast period. High investment in research and development sector in emerging economies such as China and India has given boost to the market of multi-cotor drones in Asia Pacific region. Further, Middle East & Africa and Latin America regions are also expected to witness a satisfactory growth in near future due to high investment in R&D sector in these regions.
Market Segmentation
Our-in depth analysis of the global multi-rotor drones market includes the following segments:
By Product Type
Tricopters
Quadcopters
Hexacopters
Octocopters
Others
By Application
Aerial Photography/Videography
Agriculture
Mapping & Surveying
Real State Photography
Payload Carrying
Bird Control
Product Delivery
Aviation
Search and Rescue
Marine Mission
Others (Live Streaming Events, Crop Spraying etc.)
By End User
Defense & Security
Shops
Entertainment & Media Companies
Industries
Commercial Places
Others
Growth Drivers & Challenges
Multicopter provides revolutionary abilities to do difficult things or to go somewhere, where a person has never been before. Over the past few years, it has been observed that the unprecedented abilities of multi-rotor drones have attracted consumers towards it across the globe. Increasing demand for multi-rotors in non-military sector such as agriculture, environment inspection, sports coverage, entertainment & media industries, parcel delivery and others is a major growth driver of global multi-rotor drones market. Additionally, high adoption rate of non-military multi-rotor drones is expected to foster the growth of global multi-rotor drones market in near future. Low maintenance and affordable cost of drones are some of the key factors which are expected to propel the demand for multi-rotor drones in near future.
Increasing use of multi-rotors drones in law enhancement and other military activities is one of the major factors driving the growth of multi-rotors drone market. Moreover, increasing terrorism activities in countries such as India, Spain, Israel and others have made the government of these countries more concerned about the enhancement of defense and security sector. The adoption of multi-rotor in defense & security sector is expected to increase the demand for multi-rotor drones over the forecast period.
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However, budget cuts of defense sector are a major factor dampening the growth of the global multi rotor drone market. Factors such as limited flight sufferance of multi-rotor drones and their payload capacity are some of major challenges which are restraining the growth of market. Apart from this, high price of multi-rotors is a major factor which is slowing down the growth of global multi-rotor drones market.
This report also provides the existing competitive scenario of some of the key players of the global multirotor drones market which includes company profiling of AeroVironment Inc., DJI Innovations Inc., MicroDrones GmBh, Lockheed Martin LMT, PrecisionHawk Inc., 3D Robotics, Aibotix GmBh, Dragonfly Innovations, Coptercam, Cyberhawk Innovation Ltd. 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 multirotor 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.
To know more about this research, kindly visit: https://www.researchnester.com/reports/multirotor-drones-market-global-demand-analysis-opportunity-outlook-2024/361
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.
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Ajay Daniel
Email: ajay.daniel@researchnester.com
U.S. +1 646 586 9123
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