Small drones market pave a way to huge growth up to 2023 due to extensive usage in defense sector

Small drones are remotely operated and gather information with minimal human intervention and with no requirement of a person on board. These drones are also utilized in film production, news bulletins, and music videos for creating aerial videos. They are used to inspect and investigate lands that are impenetrable or difficult to reach, due to their longer operational capacity.

The market is driven by factors such as increased commercial applications and enhanced operational efficiency. However, threats including lack of skilled pilots and strict airspace regulations hamper the small drones market growth. The market is projected to reach at $13.4 billion by 2023, growing at a CAGR of 11.8% from 2017 to 2023

Significant players operating in the small drones market are Lockheed Martin Corporation, Aerovironment Inc., Elbit Systems, Ltd., Parrot SA, 3D Robotics Inc., BAE Systems, Inc., The Boeing Company, SAAB AB, Thales Group, and Textron Inc.

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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.

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.

Small Drones Market Key Segments:

By Size

•Mini Drones
•Micro/Nano Drones

By Type

•Fixed Wing
•Rotary Wing

By Application

•Defense
•Commercial

By Geography

•North America
•Europe
•Asia-Pacific
•LAMEA

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Key Reasons to Buy the Report:

•This study comprises analytical depiction of the global small drones market with current trends and future estimations to depict the imminent investment pockets.

•The overall market potential is determined to understand the profitable trends to gain a stronger foothold in the market.

•The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

•The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the small drones market.

•Porters Five Forces analysis illustrates the potency of the buyers and suppliers in the small drones industry.

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

Chapter: 6 SMALL DRONES MARKET, BY APPLICATION

6.1. OVERVIEW
6.2. COMMERCIAL
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast

6.3. DEFENSE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast

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