Press release
Drones Market Poised for 20.4% Growth, Set to Hit $93.1 Billion by 2029
Drones
The expansion of the commercial sector is expected to drive the growth of the drone market moving forward. As global markets become more interconnected, consumer preferences evolve, and disposable incomes rise, businesses across industries are increasingly adopting technology to improve operational efficiency. Drones play a crucial role in this transformation by helping businesses with tasks like inspections, deliveries, data collection, and improving safety in hazardous environments. For instance, according to UK Parliament data in May 2024, the number of private sector businesses in the UK increased by 0.8% in 2023, reflecting a broader trend of business expansion. This expansion in the commercial sector is driving demand for drones, contributing to the market's growth.
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What Is the projected market size and growth rate for the drones market?
The drones market has experienced exponential growth in recent years. It is forecasted to increase from $36.7 billion in 2024 to $44.32 billion in 2025, reflecting a CAGR of 20.8%. The market's past expansion has been driven by greater efficiency in transportation, broader applications of drones, enhanced drone platform capabilities, and increased utilization in surveillance.
The drones market is expected to witness exponential expansion, reaching $93.1 billion by 2029 at a CAGR of 20.4%. Growth drivers include a greater emphasis on sustainability and environmental monitoring, rising demand for aerial photography and surveillance, increasing popularity of drone racing, and wider adoption in commercial and recreational sectors. Key trends shaping this market include the expansion of commercial drone applications, advancements in drone technology, improved communication systems, and increasing collaborations and partnerships.
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What new trends are reshaping the drones market and its opportunities?
In the drone market, companies are creating all-in-one drone systems to improve operational efficiency and offer versatile applications. In October 2023, Verge Aero launched the Verge Aero X7, a cutting-edge drone designed for drone shows, with advanced hardware and software features, making it more accessible for a wider audience to produce aerial displays. The system includes 50 drones and full software access, simplifying drone show production.
What major market segments define the scope and growth of the drones market?
The dronesmarket covered in this report is segmented -
1) By Type: Rotary Blade, Fixed Wing, Hybrid
2) By Propulsion Type: Heat Engine, Electrical Engine, Jet Engines, Other Propulsion Types
3) By Application: Industrial, Terrestrial Imagery And Mapping, Precision Agriculture, Inspection And Monitoring, Other Applications
4) End User: Agriculture, Construction And Infrastructure Industry, Media And Entertainment, Logistics And Transportation, Defense And Military, Others End Users
Subsegments:
1) By Rotary Blade Drones: Rotary Blade Drones, Quadcopters, Hexacopters, Octocopters, Tricopters, Single Rotor Helicopters
2) By Fixed Wing Drones: Small Fixed-Wing Drones, Medium-Altitude Long-Endurance (MALE) Drones, High-Altitude Long-Endurance (HALE) Drones, Vertical Take-Off and Landing (VTOL) Fixed Wing, Electric Fixed-Wing Drones, Gasoline-Powered Fixed-Wing Drones
3) By Hybrid Drones: Tilt-Rotor Drones, Quadplane Drones, Compound Hybrid Drones, VTOL (Vertical Take-Off and Landing) Hybrid Drones
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Which region dominates the drones market?
North America was the largest region in the drones market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the drones industry growth?
Major companies operating in the drones market are Sony Group Corporation, Lockheed Martin Corporation, Intel Corporation, BAE Systems plc, Leonardo S.p.A., Textron Inc., Northrop Grumman Corporation, Elbit Systems Ltd., Saab AB, General Atomics Aeronautical Systems Inc., FLIR Systems Inc., AgEagle Aerial Systems Inc., SZ DJI Technology Co. Ltd., Kratos Defense & Security Solutions Inc., Insitu Inc., Yuneec International Co. Ltd., AeroVironment Inc., Autel Robotics Co. Ltd., Parrot Drones SAS, Microdrones GmbH, Aereon Group LLC, Skydio Inc., Delair SAS, Terra Drone Corporation, PrecisionHawk Inc., EHang Holdings Limited
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What Is Covered In The Drones Global Market Report?
•Market Size Forecast: Examine the drones market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the drones market for a structured understanding.
•Key Players Overview: Analyze major players in the drones market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the drones market.
•Segment Contributions: Evaluate how different segments drive overall growth in the drones market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the drones market.
•Industry Challenges: Identify potential risks and obstacles affecting the drones market.
•Competitive Landscape: Review strategic developments in the drones market, including expansions, agreements, and new product launches.
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