Tethered Drone Market Estimated to Conquer Valuation of $404.9 million by 2031

According to a new report published by Allied Market Research, titled, "Tethered Drone Market," The tethered drone market was valued at $257.30 million in 2021, and is estimated to reach $404.9 million by 2031, growing at a CAGR of 4.9% from 2022 to 2031.

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Tethered drones are a form of unmanned aerial drones that are connected to a specific base station located on the ground through a wire (tether) that is used for the operation of drone. With the help of tethers used for controlling the drone, unlimited flight time is provided to the drones, thus increasing their operational efficiency. Technological developments in tethered UAVs have opened up new possibilities for border patrols, live streaming events, temporary communication towers, low-altitude satellite surveillance and much more. Numerous developments are being carried out by the key manufacturers, which offers unlimited flight time and reliability, with the flexibility to detach the tether for range when needed. This creates an immense traction on the growth of the market across the globe.

Moreover, with the increased demand for improved surveillance followed by the growth in threat from terrorism as well as increase in security concerns across the globe have led to increased government expenditure for tethered drones. Tethered drones can carry out stealth operations, function at nights, operate at any location, and are easy to deploy. Such benefits have led to increase in investments by governments to procure and develop a large number of tethered drones globally. For instance, in December 2020, Indian drone manufacturer Aero360 launched its tethered drones, equipped with advanced and robust technologies to reduce the challenges which are faced by government organizations and commercial businesses.

The advanced tethered drone sustains more than eight hours of ultra-long resolution with robust performance. Made of carbon-fiber, it features high ruggedness, compact folding arms, and electric landing gears, and empowering users to overcome any challenge, safely and efficiently. Equipped with advanced transmission system (ATS), the drones have a tether extendable up to 70 meters, allowing for more possibilities for those who demand tethered drones with persistent operation and endurance to perform tasks.

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In addition, the tethered drone market has witnessed significant growth in recent years, owing to developments in size, weight and power (SWaP) optimized technologies, which has driven these improvements, allowing smaller man-portable systems more flexible tactical capability. For instance, in January 2022, the statewide Incident Management Assistance Patrol (IMAP) program and the Division of Aviation's Unmanned Aircraft System (UAS) program recently helped develop and deploy the operation of tethered drones from select IMAP vehicles. This helps responders assess incidents, provide situational awareness to the North Carolina Department of Transportation (NCDOT) Statewide Transportation Operations Center (STOC) and Traffic Management centers (TMCs) and assist with overall traffic management of the incidents.

Moreover, the market has been supported by numerous drivers such as faster adoption of tethered drone in commercial sector, increased global defense expenditure and rise in demand for improved surveillance. However, the factors such as increase in competition with aerial imagery and privacy & security concerns hinders the growth of the market across the globe. Moreover, the factors such as diversifying the connectivity of tethered drones and betterment in drone technologies creates numerous opportunities for the growth of the market during the forecast period.

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COVID-19 Impact Analysis:

The tethered drone market has witnessed a moderate impact of COVID-19. While there was no major impact toward its operation as tethered drones were not grounded for a longer timeframe; however, the manufacturing industry experienced a notable business impact due to lack of resources and raw materials. Allocation of government funds toward medical sectors and management of pandemic placed several contracts of tethered drone on the commercial and military front on hold. Similarly, allocation of funds by corporates bodies toward managing bottom line of the company during the pandemic has forced them to reduce research and development funds. This may have long term business implications.

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