Increasing Demand for Micro Drone Market Has Led to Improvement in Drone Technologies
Rockville, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The market for micro drones is anticipated to reach US$ 3,398.1 million in 2023 and grow at a healthy 16.8% CAGR between 2023 and 2033. Unmanned air systems (UAS) are now able to fly farther and faster than ever before, as well as carry out ever-sophisticated surveillance operations, due to recent rapid advancements in UAS technology.
These advancements have been driven by advances in size, weight, and power optimised technologies, giving smaller man-powered systems more adaptable tactical capability. An unprecedented level of interest in drones has been sparked by recent advancements in technology.
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Micro drones that can fly, search, and kill without human intervention have been developed by defence manufacturers. Consequently, it is anticipated that the market for micro drones will grow significantly over the course of the forecast period as micro drone are turning to be more advanced in coming years.
Key Takeaways from Market Study
The global micro drone market is projected to reach US$ 16,057.0 million by 2033.
The market witnessed 14.3% CAGR between 2018 and 2022.
2-5 kg micro drone in payload segment dominates the market with 48.2% market share in 2023.
Under sales channel, offline channel micro drone dominates the market and are valued at US$ 2,611.8 million in 2023.
Based on region, demand for micro drone expected to increase at CAGR of 17.9% in East Asia during the forecast period.
The top manufacturers of micro drones are constantly developing innovative product designs to meet the modern challenges associated with component placement in harsh environments. Some prominent players have adopted competitive pricing strategies in the micro drone market. The company has built constructive partnerships and collaborations with governments and end-user industries.
High demand for modern drones and accessories allows market participants to expand their product range. Market participants are concentrating resources and capital on research and development while looking to expand their regional footprint.
Fact.MR has provided detailed information about the price points of key manufacturers of micro drone positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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Key Companies Profiled
The Boeing company
Bae systems Inc.
Da-jiang innovations science and technology co. Ltd.
3D robotics Inc.
Lockheed Martin Corporation
Elbit systems ltd.
Israel aerospace industries ltd.
Micro drones can be easily deployed, can fly anywhere, can operate at night, and can conduct stealth operations. These benefits have prompted governments all over the world to invest in the acquisition and development of numerous micro drones. The security of important institutions has significantly increased due to sophisticated access control and video surveillance systems.
In large cities, micro drones are used to observe gatherings and events. Additionally, a number of government organisations have imposed stringent rules and regulations regarding the placement of micro drones in high-risk areas. During the anticipated period, these factors can help the global micro drone market grow.
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Segmentation of Micro Drone Industry Research
By Wing type :
By Payload :
less than 2 kg
Above 5 kg
By Sales Channel :
Direct to customer
Third Party Online
Modern Trade Channels
By End Use Industry :
Agriculture & Forestry
Delivery & Logistics
Media & Entertainment
Construction & Mining
Oil & Gas
Security & Law Enforcement
By Region :
South Asia & Oceania
Middle East and Africa (MEA)
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global micro drone market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of
Wing Type, (fixed wing, rotary wing, hybrid wing), Payload (less than 2 kg, 2-5 kg, above 5 kg), Sales Channel, (online sales, (direct to customer, third party) online, offline sales ((modern trade channels, electronic stores, (franchised store, independent stores), others)), End Use Industry, (agriculture & forestry, delivery & logistics, media & entertainment, construction & mining, oil & gas, security & law enforcement, recreational activity, others) and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Check out more related studies published by Fact.MR Research:
Drones Market- The global drones market is anticipated to reach US$ 30 Billion by the end of 2022, anticipated to experience an impressive 25% CAGR from 2022-2032 to reach US$ 279 Billion by the end of the aforementioned forecast period.
U.S. Drone Market-The U.S. drone market is projected to expand rapidly at 22.2% CAGR to reach a market valuation of US$ 82.9 billion by 2032, up from US$ 11.1 billion in 2022.
Small Drone Market- The small drone market is estimated to reach valuation of US$ 5,193.5 Million in 2023 and will top US$ 23,510.2 Million by 2033, growing with a CAGR of around 16.3% from 2023-2033.
Toy Drone Market - The global toy drone market will reach a valuation of US$ 417 million in 2023 and expected to progress at a CAGR of 8.6% to reach US$ 951.5 million by the end of 2033.
Target Drone Market- The target drone market is estimated to reach valuation of US$ 10,142.9 Million in 2023 and will top US$ 43,600.8 Million by 2033, growing with a CAGR of around 15.7% from 2023-2033.
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