Drones Market Analysis 2023-2028, Industry Size, Share, Trends and Forecast

IMARC Group, a leading market research company, has recently releases report titled "Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global drones market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the drones market?
The global drones market size reached US$ 24.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.1 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028.

What are drones?
Drones or unmanned aerial vehicles (UAVs) are aircraft that are remotely controlled by a pilot or autonomously navigated through a programmed onboard computer. They comprise several components such as an electronic speed controller (ESC), global positioning system (GPS) module, antenna, flight controller, and sensors. Some commonly available drone types include multi-rotor, fixed-wing, single-rotor, and fixed-wing hybrid vertical take-off and landing (VTOL) drones. They are produced using numerous materials, including fiberglass, carbon aluminum, fiber composites, and plastic. They are also employed for traffic and weather monitoring, personal use, delivery services, photography, videography, firefighting, surveillance, and rescue operations. As a result, drones are extensively adopted in military and defense, logistics, law enforcement, media and entertainment industries, construction, and agriculture across the globe.

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What are the growth prospects and trends in the drones industry?
The market is primarily driven by the expanding military and defense industry and the escalating demand for drones to access and analyze the movement of enemies and provide real-time information on target positions. In addition, the increasing demand for construction activities due to their ability to survey the property, prevent harmful accidents on construction sites, and offer constant and exact project alerts while increasing safety, is contributing to market growth. Moreover, the integration of the internet of things (IoT), artificial intelligence (AI), and machine learning (ML) in drones to store and manage huge amounts of data represents another major growth-inducing factor. Besides this, the rising use of drones in the agriculture industry to reduce expenditure, enhance productivity, collect farm data, and automate repetitive tasks, is providing a positive thrust to the market growth. Furthermore, the surging product application in disaster management to identify affected areas facilitates the rescue of individuals and provides them with first aid kits, is also creating a favorable market outlook.

What is included in market segmentation?

Breakup by Type:

Fixed Wing
Rotary Wing
Hybrid

Breakup by Component:

Hardware
Software
Accessories

Breakup by Payload:

170 Kilograms

Breakup by Point of Sale:

Original Equipment Manufacturers (OEM)
Aftermarket

Breakup by End-Use Industry:

Construction
Agriculture
Military and Defense
Law Enforcement
Logistics
Media and Entertainment
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Who are the key players operating in the industry?
The report covers the major market players including:

3D Robotics
AeroVironment Inc
Birdseyeview Aerobotics Inc.
Delair SAS
DroneDeploy Inc
Intel Corporation
Parrort SA
Precisionhawk Inc.
SZ DJI Technology Co. Ltd. (iFlight Technology Co. Ltd.)
Terra Drone Corporation
The Boeing Company

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