Small Drones Market to Experience Exponential Growth by 2023 - Jam-packed Opportunities for Investors

The small drones market was valued at $6.2 billion in 2016 and is projected to reach at $13.4 billion by 2023, growing at a CAGR of 11.8% from 2017 to 2023. In 2016, the mini-drones segment accounted for the highest revenue share in the small drones market.

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North America is the leading market for small drones presently, followed by Europe. In 2016, the U.S. dominated the market in Asia-Pacific; similarly, the UK led the overall market in the European region.

Dominating Market Players:

•Lockheed Martin Corporation
•Aerovironment Inc.
•Elbit Systems Ltd.
•Parrot SA
•3D Robotics Inc.
•BAE Systems Inc.
•The Boeing Company
•SAAB AB
•Thales Group
•Textron Inc.

The key factors that drive the global small drones market are increased operational efficiency and growth in need for enhanced surveillance. However, factors such as strict airspace regulations and lack of skilled pilots hamper the market growth. Moreover, improvement in technology is expected to provide lucrative opportunities for the market growth.

Table of Content

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVES

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Low bargaining power of suppliers
3.3.2. High threat of new entrants
3.3.3. Moderate threat of substitutes
3.3.4. High intensity of rivalry
3.3.5. Moderate bargaining power of buyers

3.4. MARKET DYNAMICS

3.4.1. Drivers

3.4.1.1. Increased operational efficiency with minimal human intervention
3.4.1.2. Growing need for enhanced surveillance

3.4.2. Restraints

3.4.2.1. Strict airspace regulations
3.4.2.2. Lack of skilled pilots

3.4.3. Opportunities

3.4.3.1. Modernization of military and declining defense budgets of advanced economies
3.4.3.2. Improvement in technologies

3.4.4. Top impacting factors

Chapter: 4 SMALL DRONES MARKET, BY SIZE

4.1. OVERVIEW
4.2. MINI DRONES

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. MICRO/NANO DRONES

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

Chapter: 5 SMALL DRONES MARKET, BY TYPE

5.1. OVERVIEW
5.2. FIXED WING

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. ROTARY WING

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

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The mini drones segment dominates the global small drones market. Further, micro/nano drones segment is anticipated to witness the highest growth rate during the forecast period. Among the type of small drones, the rotary wing drones witness the highest revenue in the market owing to its ease of operability in smaller areas in comparison to fixed wing drones.

Small drones are widely used in the defense sector and witness the highest revenue in the same. However, with the increase in adoption of small drones in various commercial applications, it is anticipated to depict highest growth rate in the market.

Key Findings of the Small Drones Market:

•The micro/nano drone segment is expected to exhibit a significant increase in the small drones market growth during the forecast period.

•In 2016, the rotary wing small drone generated the highest revenue among the small drone types.

•The defense segment generated the highest revenue in the small drones market.

•Asia-Pacific is anticipated to exhibit a substantial growth during the forecast period.

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