Small Drones Take Flight for Military Applications
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The global small drone market could reach $13.4 billion by 2023, according to Allied Market Research. Work on both general-purpose and military drones has gained traction.
In another study, the Jouhou System Kougaku (JSK) Laboratory at the University of Tokyo unveiled the DRAGON drone. This drone is made up of a number of small drones and is capable of changing its shape in midair. Moreover, it can determine what shape to take based on the space in which it is navigating.
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Dominating Market Players:
•Lockheed Martin Corporation
•Elbit Systems Ltd.
•3D Robotics Inc.
•BAE Systems Inc.
•The Boeing Company
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"North America and Europe, together accounted for about 64.6% of the total small drones market in 2016, with the former constituting around 37.4%. From growth perspective, Asia-Pacific and LAMEA are the two potential markets, expected to witness considerable increase in growth rates during the forecast period. At present, these two segments account for 35.4% of the small drones market. Their cumulative contribution in the overall market of the Asia-Pacific and LAMEA regions is anticipated to reach 36.8% by 2023, owing to high market growth over the next seven years. Asia-Pacific is expected to grow at a lucrative rate of 12.5% during the forecast period."
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