Top Trends in Small Drones Market Size 2020 - Global Industry Revenue and Upcoming Demand

Small drones are used in applications across diverse industry verticals. The ability of a small drone to examine and monitor activities in a short span of time will fuel the demand for the product across the world. Accounting to the widespread applications of the product, several companies are looking to invest more in the research and development of newer and advanced products. Increasing investments in product R&D will create several opportunities for market growth. The growing number of start-ups will bode well for the growth of the market in the coming years.

The report provides an in-depth analysis of the global small drones market size. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources.

Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years.

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List of the best companies that are operating in the global small drones market are:
o 3D Robotics
o DJI
o Parrot Drones SAS
o AeroVironment, Inc.
o 3DR
o YUNEEC
o EHANG
o Kespry
o INSITU
o Delair
o AguaDrone.com
o Textron
o Autel Robotics USA

Increasing Number of Military Defence Contract to Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of military contracts for small drones will have a positive impact on the growth of the market. The increasing investment in R&D of the product will yield better products. In a bid to establishing a stronghold in the market, several companies are looking to acquire long term military contracts to enhance their market share in the small drone market.

In August 2019, Aerovironment signed a contract with the United States Army for the supply of new drones. The contract is said to be worth USD 45 million, wherein Aerovironment will supply RQ-11B Raven drones to the US Army. US Army's collaboration with Aerovironment will not only help the company grow but will have a direct impact on the growth of the global market in the coming years.

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North America Leads the Global Small Drones Market; Increasing Investments in Product R&D to Aid Growth

The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America is projected to witness considerable growth in the coming years, driven by the high investments in the R&D of newer products. As of 2018, the market in North America was worth USD 3.16 billion and this value is projected to increase further in the coming years. Besides North America, Asia Pacific is projected to witness considerable growth, accounting to the high demand for small drones in emerging countries such as India and China.

Further Report Findings:

The report includes ongoing small drones market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

North America is projected to emerge leading (2017 value USD 2.67 billion: & 2018 value: USD 3.16 billion)
Asia Pacific to witness considerable growth
Besides regional demographics, the market is segmented on the basis of:

By Type

Fixed-Wing
Rotary-Wing
Hybrid/Transitional
By Power Source

Lithium-ion cells
Hybrid Fuel cells
Solar cells
By Size

Micro
Mini & Nano
By Application

Military
Civil & Commercial
Homeland Security
Consumer (23% market share)
Noteworthy Industry Developments:

In Nov-18, AeroVironment signed a contract with the U.S. Department of Defense for the distribution of RQ-20B Puma AE II small unmanned aircraft systems. The contract is estimated to be worth USD 3.2 million.

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Read Press Release on Global Small Drones Market: https://www.fortunebusinessinsights.com/press-release/small-drones-market-9611

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This release was published on openPR.