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Global Nano UAV Market Growth Prospects, Future Industry Landscape 2033 | The Boeing Company, Lockheed Martin Corporation, Intel Corporation, Northrop Grumman Corporation
Nano UAV Global Market Report 2024
As per the report, the nano UAV market size has grown exponentially in recent years. It will grow from $1.53 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The nano UAV market size is expected to see exponential growth in the next few years. It will grow to $5.35 billion in 2028 at a compound annual growth rate (CAGR) of 28.4%.
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Boosting Nano UAV Growth Through Increased Defense Budget Allocation
The increase in the defense budget is expected to propel the growth of the nano UAV market going forward. A defense budget refers to the portion of a government's overall budget allocated specifically for defense and military-related expenditures. A higher defense budget often leads to increased procurement of military equipment, including UAVs. Nano UAV manufacturers may benefit from government contracts and orders for these smaller unmanned systems to support various defense operations, intelligence gathering, surveillance, reconnaissance, and target acquisition missions. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based institute and independent resource on global security, world military expenditure increased by 3.7% in real terms in 2022 to reach a record high of $2,240 billion. Military expenditure in Europe rose by 13% during the year. US military spending also increased by 8.8% in nominal terms between 2021 and 2022, but real spending increased by 0.7% over that same time due to an 8.1% inflation rate. Therefore, the increase in the defense budget is driving the growth of the nano UAV market.
4K Nano Drones Transforming The Nano UAV Market
Major companies operating in the nano UAV market are developing new products, such as 4K nano drones, to gain a competitive edge in the market. 4K nano drones typically refer to small-sized unmanned aerial vehicles (UAVs) equipped with 4K resolution cameras for recording high-quality video. For instance, in January 2024, IZI, an India-based consumer electronics company, launched the MINI X drone. The MINI X boasts a lightweight design at 249 grams and features a premium CMOS sensor for capturing stunning 20MP images and smooth videos. With a 4 km live video transmission range, precise navigation enabled by GPS/GLONASS (Global Positioning System/Global Navigation Satellite System) technology, and versatile flight modes, the MINI X provides professional-grade aerial photography and videography capabilities. The drone is available in Standalone and Fly More Combo versions, offering extended flight time, multiple batteries, and user-friendly operation. The MINI X is controlled through a mobile device using the IZI Sky Eye App.
The nano UAV market covered in this report is segmented -
1) By Product Type: Fixed Wing, Rotary Wine, Other Products
2) By Class Type: Small Unmanned Aerial Vehicle (UAV), Tactical Unmanned Aerial Vehicle (UAV), Strategic Unmanned Aerial Vehicle (UAV), Special Purpose Unmanned Aerial Vehicle (UAV)
3) By Propulsion System: Hydrogen Cell, Solar Cell, Lithium-Ion
4) By Application: Civil and Commercial, Military, Homeland Security, Other Applications
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Major companies operating in the nano uav market are The Boeing Company, Lockheed Martin Corporation, Intel Corporation, Northrop Grumman Corporation, Thales Group, Textron Inc., Elbit Systems Ltd., Teledyne Technologies Inc., Saab AB, Israel Aerospace Industries Ltd., DJI (Dà-Jiāng Innovations) Technology Co. Ltd., AeroVironment Inc., Yuneec International Co. Ltd., Parrot SA, Microdrones GmbH, 3DR (3D Robotics), senseFly Ltd., Flyability SA, Delair Tech SAS, PrecisionHawk Inc., Aeryon Labs Inc., Kespry Inc., Nimbus Maps Ltd., Altavian Inc., Quantum Systems GmbH
Contents of the report:
1. Executive Summary
2. Nano UAV Market Report Structure
3. Nano UAV Market Trends And Strategies
4. Nano UAV Market - Macro Economic Scenario
5. Nano UAV Market Size And Growth
…..
27. Nano UAV Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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