Press release
Small Drones Market to Reach USD 24.29 Billion by 2030, emerging at a CAGR of 13.1% and forecast 2021-2030
Small Drones Market
Surge in operational efficiency and rise in demand for improved surveillance drive the growth of the global small drones market. However, stringent drone regulations hinder the market growth. On the other hand, advancements in drone technologies create new opportunities in the coming years.
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Increased operational efficiency and surge in demand for improved surveillance are expected to drive the small drones market during the forecast period. However, strict drone regulations are anticipated to hamper the growth of the market. Moreover, improvement in drone technologies is expected to offer lucrative opportunities for the market in future.
Covid-19 Scenario:
The nationwide lockdown led to partial or complete shutdown of small drone manufacturing facilities. In addition, the shortage of raw materials and disruptions in the supply chain impacted the manufacturing activities.
New deployment activities and initiatives were delayed due to the Covid-19 pandemic. The import-export activities were impacted due to ban by government authorities. The manufacturing and deployment activities are expected to get back on track post-lockdown.
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North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global small drones market share in North America in 2020, owing to surge in R&D activities; technological developments by key players; and rapid adoption of innovative technologies in making reliable, precise, & efficient small drones. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of small drones across several Asian nations, for instance, China, India, Japan, and South Korea.
The key players that operate in the global small drones market include 3DR, AeroVironment Inc., Autel Robotics, BAE Systems Plc., DJI Technology, Hubsan, Elbit Systems Ltd., Parrot SA, SkyDio, and Teledyne FLIR LLC.
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