Press release
Micro Drone Market Size to See Massive Growth by 2030 With CAGR of 17.2%
Micro Drone Market
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict drone regulations and lack of skilled & trained personnel hinder the market growth. On the other hand, improvement in drone technologies and surge in defense spending globally present new opportunities in the coming years.
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Increased operational efficiency and rise in demand for improved surveillance are expected to drive the micro drone market growth during the forecast period. However, strict drone regulations and lack of skilled & trained personnel are the factors that are expected to restrain the growth of the micro drone market during the forecast period. Moreover, improvement in drone technologies and rise in defense expenditure globally are the major factors armor that are expected to supplement the micro drone market.
Covid-19 Impact Analysis
The COVID-19 impact on the micro drone market is unpredictable and is expected to remain in force till the second quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of raw materials items for most of 2020. This led to sudden fall in the availability of important raw materials for manufacturing micro drone equipment.
Moreover, nationwide lockdowns forced parts manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of modern micro drone systems globally.
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Based on region, North America contributed to the largest share in 2020, holding more than one-third of the total share, and is estimated to continue its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to portray the fastest CAGR of 19.9% during the forecast period.
Leading players of the global micro drone market analyzed in the research include 3DR, Autel Robotics, AeroVironment Inc., Elbit Systems Ltd., DJI, Israel Aerospace Industries Ltd., Hubsan, senseFly, Kespry Inc., and Skydio, Inc.
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