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Booming CAGR 0f 11.8% | Small Drones Market is Projected to Reach $13.4 billion by 2023 - Lockheed Martin Corporation, Aerovironment Inc., Elbit Systems
Small Drones Market
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North America is the leading market for small drones presently, followed by Europe. In 2016, the U.S. dominated the market in Asia-Pacific; similarly, the UK led the overall market in the European region.
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.
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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.
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Key Findings of the Small Drones Market:
The micro/nano drone segment is expected to exhibit a significant increase in the small drones market growth during the forecast period.
In 2016, the rotary wing small drone generated the highest revenue among the small drone types.
The defense segment generated the highest revenue in the small drones market.
Asia-Pacific is anticipated to exhibit a substantial growth during the forecast period.
The key players profiled in the report include 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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