Small Drone Market Size, Analysis, Trends, Opportunities And Strategies 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Small Drone Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $9.43 billion In 2028 At A CAGR Of 12.7%.

The small drone market size has grown rapidly in recent years. It will grow from $5.16 billion in 2023 to $5.84 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to consumer and hobbyist adoption, cost reduction in drone manufacturing, regulatory framework development, increased awareness of drone capabilities, rise of drone racing, integration into agriculture..

The small drone market size is expected to see rapid growth in the next few years. It will grow to $9.43 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to urban air mobility, package delivery services, environmental monitoring, emergency medical services, surveillance and border security, education and training programs.. Major trends in the forecast period include integration of artificial intelligence, adoption in public safety, consumer photography drones, drone swarming technology, advancements in camera technology..

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Small Drone Market Major Segments
The small drone market covered in this report is segmented -

1) By Type: Fixed Wing, Rotary Wing
2) By Operation: Remotely Piloted, Optionally Piloted, Fully Autonomous
3) By Power source: Fuel, Battery
4) By Application: Military, Commercial

Key Driver - The Soaring Growth Of Small Drones Fueled By Rising Defense Expenditure

The rising military and defense expenditure is expected to propel the growth of the small drone market going forward. Defense expenditure refers to all current and capital expenditure on the armed forces, including peacekeeping forces of defense ministries and other government agencies engaged in defense projects, and paramilitary forces when judged to be trained, equipped, and available for military operations. Small drones have improved military capabilities around the world in better reconnaissance, surveillance, and target acquisition, increased flexibility, reduced cost, improved situational awareness, crew safety, faster deployment, and others. For instance, according to the National Defense Magazine, a US-based industrial association, global military drone R&D and procurement spending would climb from an estimated $11.1 billion in 2020 to $14.3 billion in 2029, a nearly 30% increase. Spending on research and development is anticipated to increase from $3.2 billion in 2020 to $4 billion in 2029, while money for procurement is anticipated to increase from $7.9 billion in 2020 to roughly $10.3 billion by the end of the decade. Therefore, the rising military and defense expenditure is driving the growth of the small drone market.

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Prominent Trend - Small Drones Embrace Lidar Technology For Precision Mapping And Surveying

The adoption of light detection and ranging (LIDAR) are key trend gaining popularity in the small drone market. Light detection and ranging are remoting sensor that uses light in form of pulsed light to measure the distance to the Earth. Combined with information collected by the airborne system, these pulsed lights produce precise three-dimensional information about the earth's surface and the target object. A LiDAR drone is a drone that carries a LiDAR sensor for data collection. For instance, in August 2021, Redtail LiDAR Systems, a US-based company involved in microelectromechanical systems mirror-based LiDAR technology, unveiled the RTL-450 LiDAR sensor into the market. The RTL-450 incorporates a lightweight MEMS mirror and a precision navigation system to generate accurate data for the most demanding of aerial surveying missions. The three-dimensional point clouds and high-resolution created by the RTL-450 provide operators with an unsurpassed ability to conduct advanced analytics of manmade and geographic features on the earth's surface. The innovative LiDAR system, which weighs just over 4 pounds, is designed to operate independently of a drone platform, providing great flexibility for small drone integration.

Small Drone Market Players
Major companies operating in the small drone market report are Dai-Jing Innovations, Parrot SA, AeroVironment, Elbit Systems, lockheed Martin Corporation, Israel Aerospace Industry Limited, BAE Systems plc, 3D Robotics, Textron Inc., Saab AB, Delair, Yuneec International, Applied Aeronautics, The Boeing Company, Thales Group, Skydio, Autel Robotics, Airobotics, BRINC DronesLLC., Citadel Defense Company, Corvus Robotics, Dedrone, DroneDeploy, DroneUp, DroneSeed, DroneSense, Propeller Aero, SkyCatch, Skyword, Valqari, Volansi, WiBotic, Wing, Zipline, Censys, Inspired Flight, Skyfish, Hitec Commercial Solutions, Vantage Robotics, RangePro X8P, C-Astral Aerospace .

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the small drone market in 2023. Asia-Pacific is expected to be the fastest-growing region in the small drone market report during the forecast period. The regions covered in the small drone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Small Drone Market Report Structure
3. Small Drone Market Trends And Strategies
4. Small Drone Market - Macro Economic Scenario
5. Small Drone Market Size And Growth
…..
27. Small Drone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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