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Multirotor Drones Market to Record Sturdy Growth by 2023
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Effectiveness of the multirotor drones and the technological advancement that is achieved in this field, ability to perform under extreme conditions and several innovative applications are the major factors driving the multirotor drone market. Moreover rise in production of mutirotor drones for non-military application like aerial shooting, agriculture, environmental inspection, sports coverage has positively impacted the multirotor market further. Multirotor drones offer multiple benefits such as flexibility in operation, high precision in action, low operational cost and low cost of ownership are among other factors that are driving the multirotor drones market. These factors have increased degree of acceptability for multirotor drone for military and commercial usage. The penetration of the multirotor drone in the aerial shooting applications is high compared to any other application. Procedural issues and air traffic management norms in terms of mandatory supervision on the drone are some of the challenges faced by the multirotor drones market.
By payload the multirotor drone market can be segmented into cameras, wireless HD Video Transmission Systems, Electro-Optical Sensors, Wi-FI, GPS/Ins, Lidar, Chemical, Biological, Radiological and Nuclear (CBRN) sensors, Laser designators and sense & Avoid/tracking system. By application, the multirotor drones can be segmented into aerial shooting, defense, law enforcement, business & commerce and environment inspection.
Among all the regions multirotor drone market in North America and Europe is expected to grow at a slower rate due to the economic downturn and budget cuts. The budget cut in these regions is likely to slow down the defense industry and the multirotor drone market. The mulitirotor drone market in the Asia-Pacific and Rest of the world (RoW) region is expected to grow at a faster rate as there is high investment in the research and development of the UAV sector. Political dispute and unrest are driving the demand growth multirotor drones in military and defense sector in countries from Asia Pacific and Middle East. The RoW region also has a high potential of growth in the multirotor drone market.
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Global key players operating in the multirotor drone market are AeroVironment, Inc (U.S), DJI Innovation (China), Israel Aerospace Industries (Israel), Microdrones GmBh and 3D Robotics (U.S). These companies dominate the multirotor drones market and are expected to dominate the market in coming years. Aibotix (Germany), Draganfly Innovations (Canada), Coptercam (Australia), Cyberhawk Innovation Lltd. (U.K), are the other important players’ operationg in the multirotor drones market.
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