2019 | Drone Market Insights and Forecast to 2025 | Yuneec International Co. Ltd., SZ Dajiang Innovations Technology Co., Ltd., Parrot S.A., 3D Robotics

Drones sometimes referred to as unmanned aerial vehicles (UAV), used as aircraft systems without a human pilot aboard. The rise in adoption of smartphones, demand for aerial services, and commercial applications impact the market growth. The usage of drone technology in agricultural practices, media, and entertainment, the construction sector has been on a significant rise. However, increasing privacy and security concerns and high-resolution satellite imagery is the factors hampering market growth.

According to an upcoming report by BlueWeave Consulting, “Global Drone Market, by Type, by Segment, by Application, by Region, Growth Potential, Competitive Market Share and Forecast, 2015-2025” The drone market is projected to grow with a significant growth rate during the forecast period 2019-2025.

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Military segment accounted for the largest share of the global drone market during the forecast period

A military segment dominates the global drone market. Drones are used in surveillance, rescue operations, providing supplies to troops and soldier deployed in remote areas, gathering information about hostile places before a mission. The increasing use of drones in various military applications like monitoring, surveying, and mapping, and combat operations contributing to the growth of the military drones market across the globe. Some devices have the capability to carry missiles and hit the target with high accuracy. Integration of drones in the current warfare systems to combat or counter threats, and cost-effectiveness as compared to manned aircraft further drive the market. Furthermore, their advanced capabilities, such as perform flight, avoid the collision, following pre-loaded instructions, following moving objects, store valuable information, and post-flight analysis the demand for drones globally.

North America is the leading region in the global drone market during the forecast period.

North America has the highest demand on account of major applications in military sector followed by Europe. Owing to the technological advancement and utilization of drone capabilities like the use of thermal and hyperspectral sensors in flight to capture and experience the immersive view from drones. For instance, in 2017, the U.S. government launched a program to increase the testing of commercial UAVs to include nighttime operations, flights beyond the VLOS and flights flown over people. The country generates high demand for drones used for surveillance purposes. Moreover, commercial application opportunities are growing as well. The Asia Pacific is the fastest growing region with significant growth on account of expanding product application in commercial and military areas due to several macro and micro economic factors like the socio-political difference between various Asia-Pacific countries, territorial conflicts, and growing insurgency rates.

Global Drone Market Competitive Landscape

Companies as Yuneec International Co. Ltd., SZ Dajiang Innovations Technology Co., Ltd., Parrot S.A., 3D Robotics, Incorporation, AeroVironment, Inc., General Atomics, Lockheed Martin Corporation, Northrop Grumman Corp., Boeing, China Aerospace Science and Technology Corporation, Bae systems, Israel Aerospace Industries, Textron, Elbit Systems Ltd. are the key players in manufacturing drone globally.

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