Product Code: GVR-4-68040-263-2
Drone Market Growth & Trends:
The global drone market size is anticipated to reach USD 163.45 billion by 2030 and grow at a CAGR of 14.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Evolving regulations facilitating easier drone integration into airspace and operations and improvements in energy density, charge/discharge rates, and overall battery performance, which are extending flight times and enhancing operational capabilities of battery-powered drones, are expected to drive market growth.
Clearer guidelines and modernized approval processes are enabling businesses to utilize drones more effectively for various applications, from aerial surveys to last-mile delivery. For instance, in India, New Drone (Amendment) Rules 2023, effective September 2023, are aimed at promoting drone operations nationwide. India's Directorate General of Civil Aviation (DGCA) mandates an individual to have an authorized remote pilot certificate on DGCA's DigitalSky platform to operate an unmanned aircraft system in India. However, small- to medium-sized drones weighing up to 2kg for non-commercial use are exempted from this rule.
Innovations in areas, such as propulsion systems, battery life, sensors, and autonomy, are enhancing capabilities and functionalities of drones. For example, innovations in lightweight materials and more efficient batteries have extended flight times and payload limits, enabling drones to perform a wider range of tasks. These technological advancements are improving drone performance, reliability, and safety, increasing their appeal to various industries and applications, and driving market growth.
Drone Market Report Highlights:
- Hardware segment accounted for the largest revenue share of 59.1% in 2023 owing to the increasing demand for advanced drones with improved features, such as high-resolution cameras and long-range connectivity,
- Hybrid segment is anticipated to witness the fastest growth over the forecast period due to the growing adaptability of hybrid drones in varying farm sizes to ensure balanced crop monitoring.
- Remotely operated segment accounted for the largest revenue share in 2023 owing to the increasing adoption of drones for surveillance and security applications.
- The 2KG to 19KG segment is expected to witness the fastest growth over the forecast period due to the increasing use of drones for public safety and emergency response applications.
- Battery-powered segment accounted for the largest revenue share in 2023 owing to the improvements in energy density, charge/discharge rates, and overall battery performance.
- Military segment accounted for the largest revenue share in 2023 owing to the intensive use of military drones, also known as Unmanned Aerial Vehicles (UAVs), by defense forces worldwide for investigation, intelligence gathering, surveillance, target acquisition, and combat operations.
- North America dominated the market in 2023 owing to the increasing adoption of drones in various commercial applications, particularly in agriculture, construction, and oil & gas, among other industries and industry verticals.
- In December 2021, Autel Robotics launched the EVO Nano and Lite Drones, which can offer up to 6K video quality, a 7.4-mile image transmission range, and vision sensors for smart obstacle avoidance. A battery life of up to 40 minutes offered by the EVO Lite series can be considered an industry-leading feature.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Component
- 1.2.2. Product
- 1.2.3. Technology
- 1.2.4. Payload capacity
- 1.2.5. Power source
- 1.2.6. End-use
- 1.2.7. Regional scope
- 1.2.8. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Information procurement
- 1.4.2. Information or data analysis
- 1.4.3. Market formulation & data visualization
- 1.4.4. Data validation & publishing
- 1.5. Research Scope and Assumptions
- 1.5.1. List of data sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Component outlook
- 2.2.2. Product outlook
- 2.2.3. Technology outlook
- 2.2.4. Payload capacity outlook
- 2.2.5. Power source outlook
- 2.2.6. End-use outlook
- 2.3. Competitive Insights
Chapter 3. Drone Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Rising demand for surveillance and investigation capabilities
- 3.2.1.2. Advancements in technology such as AI and machine learning
- 3.2.2. Market restraint analysis
- 3.2.2.1. Rising concerns over privacy and security regulations
- 3.2.3. Market opportunity analysis
- 3.2.3.1. Increased adoption of drones for precision agriculture, environmental monitoring, and infrastructure assessment
- 3.2.3.2. Rising investments in research and development
- 3.3. Drone Market Analysis Tools
- 3.3.1. Industry analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
Chapter 4. Drone Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Drone Market: Component Movement Analysis, 2023 & 2030 (USD Million)
- 4.2.1. Hardware
- 4.2.1.1. Hardware market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.2. Frames
- 4.2.1.2.1. Frames market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.3. Control system
- 4.2.1.3.1. Control systems market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.4. Power & propulsion system
- 4.2.1.4.1. Power & propulsion system market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.5. Camera system
- 4.2.1.5.1. Camera system market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.6. Navigation system
- 4.2.1.6.1. Navigation system market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.7. Transmitter
- 4.2.1.7.1. Transmitter market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.8. Wings
- 4.2.1.8.1. Wings market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.9. Others
- 4.2.1.9.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.2. Software
- 4.2.2.1. Software market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.3. Services
- 4.2.3.1. Services market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.3.2. Integration & engineering
- 4.2.3.2.1. Integration & engineering market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.3.3. Maintenance & support
- 4.2.3.3.1. Maintenance & support market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.3.4. Training & education
- 4.2.3.4.1. Training & education market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.3.5. Others
- 4.2.3.5.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 5. Drone Market: Product Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Drone Market: Product Movement Analysis, 2023 & 2030 (USD Million)
- 5.2.1. Fixed-wing
- 5.2.1.1. Fixed-wing market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.2. Multi-rotor
- 5.2.2.1. Multi-rotor market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.3. Single-rotor
- 5.2.3.1. Single-rotor market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.4. Hybrid
- 5.2.4.1. Hybrid market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 6. Drone Market: Technology & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Drone Market: Technology Movement Analysis, 2023 & 2030 (USD Million)
- 6.2.1. Remotely operated
- 6.2.1.1. Remotely operated market estimates and forecasts 2018 to 2030 (USD Million)
- 6.2.2. Semi-autonomous
- 6.2.2.1. Semi-autonomous market estimates and forecasts 2018 to 2030 (USD Million)
- 6.2.3. Fully autonomous
- 6.2.3.1. Fully autonomous market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 7. Drone Market: Payload Capacity & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Drone Market: Payload Capacity Movement Analysis, 2023 & 2030 (USD Million)
- 7.2.1. Up to 2KG
- 7.2.1.1. Up to 2KG market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.2. 2KG to 19KG
- 7.2.2.1. 2.2KG to 19KG market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.3. 20KG to 200KG
- 7.2.3.1. 20KG to 200KG market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.4. Over 200KG
- 7.2.4.1. Over 200KG market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 8. Drone Market: Power Source & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Drone Market: Power Source Movement Analysis, 2023 & 2030 (USD Million)
- 8.2.1. Battery-powered
- 8.2.1.1. Battery-powered market estimates and forecasts 2018 to 2030 (USD Million)
- 8.2.2. Gasoline-powered
- 8.2.2.1. Gasoline-powered market estimates and forecasts 2018 to 2030 (USD Million)
- 8.2.3. Hydrogen fuel cell
- 8.2.3.1. Hydrogen fuel cell market estimates and forecasts 2018 to 2030 (USD Million)
- 8.2.4. Solar
- 8.2.4.1. Solar market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 9. Drone Market: End Use & Trend Analysis
- 9.1. Segment Dashboard
- 9.2. Drone Market: End Use Movement Analysis, 2023 & 2030 (USD Million)
- 9.2.1. Consumer
- 9.2.1.1. Consumer market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.1.2. Prosumer
- 9.2.1.2.1. Prosumer market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.1.3. Toy/Hobbyist
- 9.2.1.3.1. Toy/hobbyist market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.1.4. Photogrammetry
- 9.2.1.4.1. Photogrammetry market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2. Commercial
- 9.2.2.1. Commercial market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2.2. Inspection/maintenance
- 9.2.2.2.1. Inspection/maintenance market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2.3. Mapping & surveying
- 9.2.2.3.1. Mapping & surveying market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2.4. Photography/filming
- 9.2.2.4.1. Photography/filming market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2.5. Surveillance & monitoring
- 9.2.2.5.1. Surveillance & monitoring market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2.6. Localization/detection
- 9.2.2.6.1. Localization/detection market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2.7. Spraying/seeding
- 9.2.2.7.1. Spraying/seeding market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.2.8. Others
- 9.2.2.8.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.3. Military
- 9.2.3.1. Military market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.3.2. Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR)
- 9.2.3.2.1. Intelligence, Surveillance, Target Acquisition, And Reconnaissance (ISTAR) market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.3.3. Communication
- 9.2.3.3.1. Communication market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.3.4. Combat operations
- 9.2.3.4.1. Combat operations market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.3.5. Military cargo transport
- 9.2.3.5.1. Military cargo transport market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.3.6. Precision strikes
- 9.2.3.6.1. Precision strikes market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.3.7. Others
- 9.2.3.7.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 9.2.4. Government & law enforcement
- 9.2.4.1. Government & law enforcement market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 10. Drone Market: Regional Estimates & Trend Analysis
- 10.1. Regional Market Share Analysis, 2023 & 2030
- 10.2. Regional Market Dashboard
- 10.3. Global Regional Market Snapshot
- 10.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
- 10.5. North America
- 10.5.1. North America market estimates and forecasts 2018 to 2030 (USD Million)
- 10.5.2. U.S.
- 10.5.2.1. U.S. market estimates and forecasts 2018 to 2030 (USD Million)
- 10.5.3. Canada
- 10.5.3.1. Canada market estimates and forecasts 2018 to 2030 (USD Million)
- 10.6. Europe
- 10.6.1. Europe market estimates and forecasts 2018 to 2030 (USD Million)
- 10.6.2. UK
- 10.6.2.1. UK market estimates and forecasts 2018 to 2030 (USD Million)
- 10.6.3. Germany
- 10.6.3.1. Germany market estimates and forecasts 2018 to 2030 (USD Million)
- 10.6.4. France
- 10.6.4.1. France market estimates and forecasts 2018 to 2030 (USD Million)
- 10.6.5. Italy
- 10.6.5.1. Italy market estimates and forecasts 2018 to 2030 (USD Million)
- 10.6.6. Spain
- 10.6.6.1. Spain market estimates and forecasts 2018 to 2030 (USD Million)
- 10.6.7. Rest of Europe
- 10.6.7.1. Rest of Europe market estimates and forecasts 2018 to 2030 (USD Million)
- 10.7. Asia Pacific
- 10.7.1. Asia Pacific market estimates and forecasts 2018 to 2030 (USD Million)
- 10.7.2. Japan
- 10.7.2.1. Japan market estimates and forecasts 2018 to 2030 (USD Million)
- 10.7.3. China
- 10.7.3.1. China market estimates and forecasts 2018 to 2030 (USD Million)
- 10.7.4. India
- 10.7.4.1. India market estimates and forecasts 2018 to 2030 (USD Million)
- 10.7.5. Australia
- 10.7.5.1. Australia market estimates and forecasts 2018 to 2030 (USD Million)
- 10.7.6. South Korea
- 10.7.6.1. South Korea market estimates and forecasts 2018 to 2030 (USD Million)
- 10.8. Latin America
- 10.8.1. Latin America market estimates and forecasts 2018 to 2030 (USD Million)
- 10.8.2. Brazil
- 10.8.2.1. Brazil market estimates and forecasts 2018 to 2030 (USD Million)
- 10.8.3. Mexico
- 10.8.3.1. Mexico market estimates and forecasts 2018 to 2030 (USD Million)
- 10.9. MEA
- 10.9.1. MEA market estimates and forecasts 2018 to 2030 (USD Million)
- 10.9.2. South Africa
- 10.9.2.1. South Africa market estimates and forecasts 2018 to 2030 (USD Million)
- 10.9.3. Saudi Arabia
- 10.9.3.1. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 11. Competitive Landscape
- 11.1. Recent Developments & Impact Analysis, By Key Market Participants
- 11.2. Company/Competition Categorization
- 11.3. Vendor Landscape
- 11.3.1. List of key distributors and channel partners
- 11.3.2. Key customers
- 11.4. Company Profiles
- 11.4.1. DJI
- 11.4.1.1. Company overview
- 11.4.1.2. Financial performance
- 11.4.1.3. Product benchmarking
- 11.4.1.4. Strategic initiatives
- 11.4.2. 3DR, Inc.
- 11.4.2.1. Company overview
- 11.4.2.2. Financial performance
- 11.4.2.3. Product benchmarking
- 11.4.2.4. Strategic initiatives
- 11.4.3. AgEagle Aerial Systems Inc
- 11.4.3.1. Company overview
- 11.4.3.2. Financial performance
- 11.4.3.3. Product benchmarking
- 11.4.3.4. Strategic initiatives
- 11.4.4. Airware Limited
- 11.4.4.1. Company overview
- 11.4.4.2. Financial performance
- 11.4.4.3. Product benchmarking
- 11.4.4.4. Strategic initiatives
- 11.4.5. Autel Robotics
- 11.4.5.1. Company overview
- 11.4.5.2. Financial performance
- 11.4.5.3. Product benchmarking
- 11.4.5.4. Strategic initiatives
- 11.4.6. Mapbox
- 11.4.6.1. Company overview
- 11.4.6.2. Financial performance
- 11.4.6.3. Product benchmarking
- 11.4.6.4. Strategic initiatives
- 11.4.7. Parrot Drone SAS
- 11.4.7.1. Company overview
- 11.4.7.2. Financial performance
- 11.4.7.3. Product benchmarking
- 11.4.7.4. Strategic initiatives
- 11.4.8. Pix4D
- 11.4.8.1. Company overview
- 11.4.8.2. Financial performance
- 11.4.8.3. Product benchmarking
- 11.4.8.4. Strategic initiatives
- 11.4.9. RedBird
- 11.4.9.1. Company overview
- 11.4.9.2. Financial performance
- 11.4.9.3. Product benchmarking
- 11.4.9.4. Strategic initiatives
- 11.4.10. Skydio
- 11.4.10.1. Company overview
- 11.4.10.2. Financial performance
- 11.4.10.3. Product benchmarking
- 11.4.10.4. Strategic initiatives
- 11.4.11. Teledyne FLIR LLC
- 11.4.11.1. Company overview
- 11.4.11.2. Financial performance
- 11.4.11.3. Product benchmarking
- 11.4.11.4. Strategic initiatives
- 11.4.12. Yuneec International
- 11.4.12.1. Company overview
- 11.4.12.2. Financial performance
- 11.4.12.3. Product benchmarking
- 11.4.12.4. Strategic initiatives