Rising Demand for Drone Market Key Players, Growth Analysis during 2021-2027

The global drone market is anticipated to grow at a CAGR of around % during the forecast period (2021-2027). The drone is playing a vital role in every industry from inspecting high-rise buildings or to monitoring crops from the sky. Not just for military purposes, drones have now become an essential part of end-user verticals. The advancement in commercial drones is making them in demand. Advancements in both the underlying technology and ancillary functions have opened the doors for even more UAV innovation. Technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in drones offer significant growth prospects to the market. Many manufactures are focusing on dinging drones to deliver various services in the commercial sector. For instance, Flirtey, a UAV-based business is working on developing drone delivery services to carry small packages to clinics and hospitals in third world countries. Moreover, Amazon and Walmart are both in the testing phases for their potential customer package delivery service, with Google also interested in jumping on board.

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Furthermore, in February 2021, AeroVironment Inc, acquired Arcturus UAV to expand its portfolio of medium unmanned aircraft systems. The acquisition was done for $405 million. Through this acquisition, the company acquired AeroVironment's portfolio of intelligent, multi-domain robotic systems includes small footprint, runway-independent unmanned aircraft systems. Moreover, the introduction of new drones by key players also boosted the market growth. For instance, in November 2021, AgEagle Aerial Systems Inc. expanded its product offering by launching MicaSense's Altum-PT drone. Similarly, in December 2018, French company Drone Volt launched a new version of the Hercules 20, a professional heavy lift drone.

Market Coverage

· The market number available for - 2020-2027

· Base year- 2020

· Forecast period- 2021-2027

Segment Covered-

· By Type

· By End-user

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape- 3D Robotics Inc., ActionDrone USA, BAE System, DJI Type Co, Ltd., Parrot Drone SAS, among others.

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Global Drone Market Report Segment

By Type

· Fixed-Wing

· Multi Rotor

· Single Rotor

· Hybrid UAVs

· Commercial Drones

· Others (Nano Drones)

By End-User

· Agriculture

· Construction and Mining

· Media and Entertainment,

· Law Enforcement

· Surveying and Mapping

· Others

Global Drone Market Report by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

· Latin America

· Middle East & Africa

Company Profiles

· 3D Robotics Inc.

· AeroVironment Inc

· AgEagle Aerial Systems Inc.

· AguaDrone LLC

· BAE System PLC

· The Boeing Co

· DJI Type Co,Ltd.,

· Draganfly Inc

· Drone Volt Group

· General Atomics Aeronautical Systems

· Israel Aerospace Industries

· Lockheed Martin Corp

· Northrop Grumman Corp

· Parrot Drone SAS

· PrecisionHawk Inc.

· SZ DJI Technology Co., Ltd

· Tata Advanced Systems Ltd.

· Thales Group

· Trimble Inc.

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