Drones Market Overview By AeroVironment, Aeryon, AgEagle Aerial Systems, Agribotix, DJI, Delair, Parrot Drones, PrecisionHawk, 3D Robotics and HoneyComb - Forecast 2028

Global Drones Market, By Type (Fixed-Wing and Multi Rotor),By Capability (Passenger Drones and Cargo Drones), By Capacity (Up to 100 kg and Over 100 kg),By Application (Agriculture (Field Mapping, Field Mapping, Crop Spraying,Agricultural Photography, Precise Agriculture Management, Agriculture Insurance Inspection), Industry (Construction,Oil & Gas, Mining, Logistics, Aviation,Telecom)), By Component (Airframe,Payload,Guidance Navigation & Control,Propulsion System), By Region –Forecast to 2028

The global drone market is projected to witness an impressive CAGR of 20.18% between 2018 and 2028 to reach a valuation in excess of USD 129,300 Mn. Modern drones are being equipped with a broad range of systems such as airframe, engine, autopilot, navigation system, sensor package, and communication link. This has augmented the application spectrum for drones. These unmanned vehicles are not only compact but also impressively powerful and can easily perform tasks that can be highly complex for conventional aircrafts. With the rapid advancements in drone technology, new concepts are emerging. Drones have high potentials, therefore, is generating tremendous investment interest among government agencies and privately owned business entities. Of late, drones are being utilized by sectors such as aviation, construction, mining, oil & gas, telecom, and logistics sectors. Factors as such are providing an impetus to the global market for drones. Manufacturers are also focusing on overcoming issues associated with data processing and expand flight range and endurances.

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Global Drones Market: Segmental Overview

The market has been segmented on the basis of type, capability, capacity, application and component.

By type, the market has been segmented into fixed-wing and multi rotor. Among these, the fixed-wing segment is currently account for the largest share of the market. The fuctional superiority for Fixed-wing drones is driving their demand worldwide. Fixed-wing drones are equipped with wings (rather than vertical lift rotors), which are similar to the normal airplanes, and are much efficient as compared to other types of drones. In addition, they are capable of covering longer distances, mapping larger areas, and are suitable for long-duration monitoring of their point of interest.

By capability, the market has been segmented into passenger drones and cargo drones. Currently, the former is well ahead in the race. This is primarily owing to the greater viability of cargo drones whereas passenger drones are still viewed as an emerging concept that will need few more years before becoming a genuine contender. Moreover, manufacturers are introducing purpose-build cargo drones with wider ranges of payload options.

By capacity, the market has been segmented into up to 100 kg and over 100 kg. The up to 100 kg segment dominats the global market as most drones that are currently manufactured fall in the particular category. These drones are used for inspection and surveillance, photography and filmmaking, scientific research and development, lightweight cargo transportation, and passenger carriage among others.

By application, the market has been segmented into agriculture (field mapping, crop scouting, crop spraying, agricultural photography, precise agriculture management, agriculture insurance inspection and other) and industry (construction, oil & gas, mining, logistics, aviation, telecom and others). The industry segment segment will continue to outperforme the agriculture segment during the forecast period. Drones find a wide range of industrial applicatins such as real-time data gathering and processing industrial data. One major benefit of using drones in industrial sectors is real-time monitoring industrial sites.

By component, the market has been segmented into airframe, payload, guidance navigation & control and propulsion system. The airframe segment is holds the largest market and is expected to highly profitable in 2018 and beyond. Increased focus towards improving airframe structures to reduce size and achieve higher durability is also supporting the growth of the segment. Meanwhile, the payload segment is likely to witness the fastest growth over 2028.

Regional Analysis

North America is the largest market for drones, with the U.S. military being one of the major customers. The use of drones has continued to increase in U.S. military and its homeland security in recent years. The country generates a high demand for drones used for surveillance purposes. Moreover, commercial application opportunities are growing as well. In terms of drone technology, the US remains at the forefront globally. Drone deployment are the highest in North America, which makes it a lucrative market for companies that specialize in drone technology. Europe is also viewed as a highly attractive market for drones, the region currently holds the second spot in the global drones market and is likely to maintain its position throughout the assessment period. Meanwhile, the market in Asia Pacific (APAC) is likely to expand comparatively faster owing to several macro and micro economic factors such as the socio-political difference between various APAC countries, territorial conflicts, and rising insurgency rates. Drones are being successfully deployed in combat operations in volatile areas in the region. A number of countries in APAC have robust defense budgets, making them a prime destination for military equipment manufacturers. Demand for drones is expected to pick up steam in the region over the next couple of years.

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Competitive Analysis

Players such as DJI, Parrot SA, 3D Robotics, Inc., PrecisionHawk are dominating the market due to their large industry experience, new product developments, and geographic reach. Similarly, other players such as Delair SAS, AeroVironment, and are also prominent in the market. In this competitive environment, the companies are adopting almost all strategies, right from product launches to joint ventures or partnerships to grow and sustain in the market.

In 2017, DJI was the leading player in the drones market for agricultural and industrial applications. The company focuses on forming continuous partnerships and collaboration of its service products to expand its business portfolio. It engages in thorough R&D and constant innovations into its existing product line. The company recently partnered with FLIR Systems, Leica Geosystems, and uAviniox. In addition, the company is focused on growing through partnerships & strategic collaborations.

3D Robotics, Inc. held the second position in terms of market share, in 2017. The company largely focuses on the provision of services in partnership with major drone manufacturing companies. The company also has a Site Scan drone, used for cloud-connected mobile application for autonomous inspections, scans, and surveys that create 2D maps and 3D models. It has an opportunity to diversify its business as the global drone market is growing at a faster pace, during the forecast period. Moreover, it sells its products through resellers and its online stores, across the globe.

PrecisionHawk acquired the third spot in the market. The company is a global leader in developing and integrating commercial drones. The company is a fast-growing start-up company. It has acquired a number of companies in the past few years. The company recently acquired Droners.io and AirVid, to form a network of commercially licensed drone pilots in the future. The firm is successful in implementing all its strategies over a period. Moreover, the company plans for its expansion during and beyond the forecast period.

Parrot Drones SAS is one of the most competitive players in this market. The company has built a wide product offering in the automotive, civilian drone, and connected object fields. Over the years, the company has focused on strengthening its technical and innovative aspects of products. It has also focused on its increasing customer base, across the globe. Moreover, Parrot started to create professional solutions at a very early stage. The acquisition of software manufacturer Pix4D in 2012, and MicaSense in 2014 were great strategic moves by the company. As a result, the firm is in a position to provide highly advanced end-to-end solutions to the customers. Parrot Drone SAS invested heavily into their new strategy and is going to invest further in the drone market, building a new market segment in Asia Pacific. Recently, the firm launched its new folding drone, which would propel the company’s revenue, in the near future.

Expansion of the drones in emerging markets is a key focus area for players as the demand for the drones in commercial and industrial applications continues to grow. It is vital for the players to offer cost-effective and customized services to succeed in the competitive market environment. Companies continue to emphasize the adoption of new growth strategies to gain a greater foothold in the market on a global level.

Table of Contents

1 Executive Summary

2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.1 Market Size Estimation
3.2 Forecast Model

Continued........

List of Tables$

Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Drones Market, by Type, 2017 – 2028 (Usd Million)
Table 4 Global Drones Market, by Capability, 2017 – 2028 (Usd Million)
Table 5 Global Drones Market, by Capacity, 2017 – 2028 (Usd Million)
Table 6 Global Drones Market, by Application, 2017 – 2028 (Usd Million)
Table 7 Global Drones Market, by Commercial Application, 2017 – 2028 (Usd Million)
Table 8 Global Drone Market, by Agricultural Operation, 2017-2028 (Usd Million)
Table 9 Global Drone Market, by Industrial Sector, 2017-2028 (Usd Million)
Table 10 Global Drones Market, by Component, 2017 – 2028 (Usd Million)

Continued.......

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