Global Drone Market by Product Types(Small-scale, Medium-sized, Large and more), by Application(Mapping, TV, Other End-Users and more) and by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2033

Global Drone Market was valued at USD 58.9 Bn in 2023, and is projected to reach USD 153.53 Bn by 2033, at a CAGR of 9.1%.

Drones or unmanned aerial vehicles (UAVs) are being used in the entertainment, agricultural, and energy sectors for several applications. In the first few years, drones were considered a type of military equipment because to safeguard the life of pilots in combat zones. In the recent past, drones were often associated with the military and were initially used for air defense target practice, intelligence gathering, and as a weapon platform. Today, drones are widely used in civilian applications, from surveillance, traffic monitoring, search and rescue, weather surveillance, and firefighting to personal drones and commercial drone-based photography. In addition, it is widely used as a camera in agriculture sectors and delivery services. The global drone market is expected to show remarkable market revenue growth in the forecast period.

Drones have multiple uses, such as entertainment, photography, commercial, and military uses. The two primary functions of the drone are flight and navigation. To achieve flight, a drone consists of a power source which includes battery or fuel, a rotor, a propeller, and a rack. Drone frames are usually made of lightweight composite materials to reduce weight and increase maneuverability during flight. The drone requires a controller that the operator can use remotely to start, navigate, and land it. The controller uses radio waves, including Wi-Fi, to communicate with the drone. Drones contain many technical components, including Electronic Fan Speed Controllers, flight controller, GPS module, electronic circuit, battery, receiver, cameras, sensors antenna, ultrasonic sensors, and collision avoidance sensors, accelerometer.

The features of drones are dependent on the types and usage of drones, which include entertainment, photography, commercial, military uses, and many others. Some examples of these features include camera type, video resolution, megapixels and media storage format, maximum flight time, top speed, including rise and fall, hover accuracy, sensory obstacle range, altitude hold, live video feed, and flight logs. There are two main types of drone platforms namely: rotors, including single or multiple rotors such as three rotors, four rotors, six rotors, and eight in one and fixed wings, including VTOL (vertical takeoff and landing) without hybrid Drones need runways. Also, drones can be classified as individual/hobbyist or business/enterprise. The Federal Aviation Administration (FAA) estimates that small, hobbyist drones are expected to triple in number to 3.5 million drones by 2021.

Owing to higher adoption of drones across the entertainment, farming, and energy sectors is a major factor expected to drive growth of the global drone’s market. Ability to perform hazardous tasks with greater accuracy and cost-effectiveness than standard technologies such as inspecting public pipelines is a factor fueling the drone market growth. North America is the largest source of revenue for the drone market share. This is primarily due to the government’s active measures, the development of drone technology, and the increase in demand for drone data acquisition services. According to Aeronautical Information Services in US, during the year 2019, around 1.1 million drones were sold.

Tech giant companies such as Amazon, Google, Intel, and others have invested in the drone market for shipping goods, packages, and medical packages. This is a factor expected to drive the growth of the global drone market over the forecast period. Increasing privacy and security issues, as well as high-resolution satellite imagery, are some factors hindering the market growth. Nevertheless, digitalization and technological advancements in cameras, drone specifications, mapping software, multi-dimensional mapping, and sensitive applications are some other factors expected to drive the growth of the global drone market.

Global Drone Market Segmentation:

Segmentation by Product Type

• Small-scale
• Medium-sized
• Large

Segmentation by End-User

• Mapping
• TV
• Other End-Users

Key Players

• Johnson and The Boeing Company
• General Atomics
• Lockheed Martin Corporation
• Denel Dynamics
• SAIC
• Israel Aerospace Industries
• Textron
• Northrop Grumman
• AeroVironment
• Prox Dynamics AS