This report analyzes drone technology offerings, including hardware, software and services. It examines the different drone products, such as fixed-wing, rotary-blade and hybrid drones, and further segments the market by type of drone, including unmanned aerial vehicles (UAVs), unmanned underwater vehicles (UUVs), unmanned ground vehicles (UGVs) and unmanned surface vehicles (USVs).
Report Scope
This report also explores the applications of drone technology across the defense, commercial, government and consumer sectors. It also provides a market analysis by region: North America, Europe, Asia-Pacific, and Rest of the World (RoW), which includes Latin America and the Middle East and Africa.
The study also analyzes the drivers and dynamics of the drone market, along with current industry trends. The report concludes by providing profiles of the major vendors in the market. The base year for the study is 2023, with projections for 2024 through 2029, including expected CAGRs for that period.
Report Includes
- 68 data tables and 54 additional tables
- An analysis of the global markets for drone technology
- Analyses of global market trends, with market revenue data from 2023, estimates for 2024, forecasts for 2025 and 2027, and projected CAGRs through 2029
- Estimate of the current market size and revenue prospects, along with a market share analysis by type of offering, product, drone type, application, and region
- Facts and figures pertaining to the market dynamics, technological advances, regulations, and the influence of macroeconomic factors driving future demand and innovation
- A Porter’s Five Forces analysis, a global value chain analysis and an export/import trade data analysis
- A look at the recent patent grants and patent applications published
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies
- Competitive intelligence, including company shares, strategic alliances, M&A activity and venture funding outlook
- Company profiles of the leading industry players, including AeroVironment Inc., Airbus, Boeing, Drone Volt and DJI
Table of Contents
Executive Summary
The drone technology market has grown substantially over the past decade, driven by advances in technology and increasing use of drones in many industries. Initially used primarily for military purposes, drones are now widely used in sectors such as agriculture, construction, oil and gas, and entertainment. These UAVs offer businesses cost-effective solutions by providing capabilities like aerial photography, surveying, mapping, and delivery services. The integration of AI and machine learning (ML) has further enhanced drone functionalities, enabling autonomous operations and advanced data analytics.The commercial drone market is expected to continue its rapid expansion, with projections indicating a significant increase in market size. Key factors contributing to this growth include regulatory support, technological innovations, and rising investments from major companies.
Market Dynamics
The drone market is being driven by multiple factors. Technological advances in drone technology have paved the way for more sophisticated solutions. Businesses are increasingly using drones to enhance cost efficiency and operational effectiveness. The proliferation of 5G and cloud computing has also played a significant role, providing the necessary infrastructure and connectivity for advanced drone applications. Additionally, enhanced public awareness of the benefits of drone technology has further promoted the market’s growth.
However, the use of drones as spyware tools and the fear of vulnerability to sabotage could restrain the market’s growth. The scarcity of trained pilots and the high costs associated with the development and deployment of advanced drone solutions present additional challenges. Furthermore, technological limitations remain significant hurdles for the industry.
Companies Mentioned
- AEROVIRONMENT INC.
- AIRBUS
- BOEING
- DELAIR
- DJI
- DRAGANFLY INNOVATIONS INC.
- DRONE DESTINATION LTD.
- DRONE HARMONY AG
- DRONEVOLT
- EHANG
- FREEFLY SYSTEMS
- HUBSAN
- IDEAFORGE TECHNOLOGY LTD.
- INSITU
- INSIDEFPV VENTURES PVT. LTD.
- KESPRY
- MMC
- PARROT DRONE SAS
- POWERVISION INC.
- SKYDIO INC.
- YUNEEC
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 177 |
| Published | September 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 33.9 Billion |
| Forecasted Market Value ( USD | $ 61.2 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 21 |
