Drone Camera Global Market Report 2024

The drone camera market size has grown exponentially in recent years. It will grow from $8.67 billion in 2023 to $11.31 billion in 2024 at a compound annual growth rate (CAGR) of 30.5%. The expansion witnessed during the historical period can be credited to the emergence of consumer drones, an upswing in aerial photography and videography, increased utilization for professional filmmaking, applications in agriculture and surveying, as well as the adoption of drone technology in government and defense operations.

The drone camera market size is expected to see exponential growth in the next few years. It will grow to $32.85 billion in 2028 at a compound annual growth rate (CAGR) of 30.5%. The anticipated growth in the forecast period can be ascribed to the incorporation of drone technology into commercial and industrial sectors, the proliferation of drone-based services, the introduction of autonomous drones, and sustained expansion in consumer applications. Key trends expected in the forecast period encompass improvements in autonomous flight modes, the broadening scope of professional and industrial use cases, the integration of thermal and multispectral imaging, a focus on user-friendly interfaces and applications, as well as a commitment to regulatory compliance and safety features.

The anticipated rise in the utilization of drones across various industries is poised to drive the growth of the drone camera market in the foreseeable future. Drones, characterized as automated aerial vehicles capable of either receiving commands from pilots or operating autonomously through technology, are increasingly being deployed in sectors such as agriculture, construction, and the military. This expansion is contributing to the growth of the drone camera market by enhancing precision, offering safer alternatives for workers, and boosting overall efficiency. For example, in December 2021, the Federal Aviation Administration (FAA), a US-based transportation agency, reported that approximately 1.37 million new drone operators had registered with the FAA by the end of 2021. Additionally, the average number of new owner registrations between January and December 2021 was around 10,300. Hence, the growing use of drones in various industries is a key driver for the drone camera market.

The surge in the military industry is expected to further propel the growth of the drone camera market. The military industry, encompassing entities involved in the research, development, production, and sale of military equipment, weapons, and technologies for national defense and security, relies on drone cameras as essential surveillance tools. These tools enhance situational awareness, enable reconnaissance missions, and provide real-time intelligence in a cost-effective and low-risk manner, thereby improving strategic planning and operational effectiveness for the military. For instance, according to the Aerospace Industries Association's 2022 Facts & Figures Data in November 2022, the combined sales revenue for the US aerospace and defense (A&D) sector reached $892 billion in 2021, indicating a 2.1% growth from 2020. Moreover, exports from the A&D industry increased by 11.2% between 2020 and 2021, totaling $100.4 billion. As a result, the expansion of the military industry is a significant driver for the growth of the drone camera market.

The drone camera market is currently witnessing a significant trend centered around product innovation, with key industry players dedicating their efforts to developing cutting-edge products to enhance their market position. Notably, major companies in the drone camera market are concentrating on innovative product offerings. For example, in April 2023, DJI, a China-based manufacturer of drones and unmanned aerial vehicles, unveiled the DJI Matrice 350 RTK (M350 RTK), an upgraded flagship drone system. This versatile and efficient drone is designed for various airborne activities, ensuring safety for the public, energy, mapping, infrastructure, and forestry, among other applications. Key features include a payload capacity of 2.7kg and a maximum flight duration of 55 minutes, providing operators with a range of payloads to achieve their missions. Additionally, it offers triple-channel 1080p HD streams and a maximum transmission distance of 20 kilometers, enhancing flying safety, operational efficiency, and reducing flight costs.

Strategic partnerships are a prominent approach adopted by major companies in the drone camera market to expand their reach and offer comprehensive fleet data management. This collaborative strategy involves leveraging mutual strengths and resources for shared benefits and success. For instance, in September 2023, Airdata UAV, a US-based drone technology company, entered into a partnership with Sony Electronics Inc., a US-based electronics company. The collaboration aims to facilitate easy and efficient fleet management for Airpeak users, covering aspects such as equipment data, mission planning, and compliance requirements. This partnership is particularly focused on supporting the Sony Airpeak S1 Drone equipped with mirrorless cameras.

In March 2023, Ondas Holdings Inc., a US-based company specializing in drones, wireless networks, and autonomous systems, successfully acquired the assets of Iron Drone Ltd., an Israel-based company in the drone technology sector. The acquisition, completed for an undisclosed sum, enhances Ondas Holdings' portfolio by incorporating an advanced integrated security platform capable of intercepting hostile drones. This technology is applicable in various scenarios, including airports, populated areas, critical infrastructure, and more. Iron Drone Ltd. is recognized for its expertise in manufacturing drone technologies and components.

Major companies operating in the drone camera market report are Sony Corporation, Panasonic Corporation, DJI, GoPro Inc., Yuneec International, AeroVironment Inc., Yuneec, Teledyne FLIR LLC, Parrot Drone SAS, Wingtra, Flyability, AEE Technology, Skydio Inc., Autel Robotics, CONTROP Precision Technologies Ltd., Wingcopter, Quantum-Systems GmbH, Auterion, PrecisionHawk, Freefly Systems, Delair, Aerialtronics, AiDrones GmbH, Ehang, UVify, Walkera.

North America was the largest region in the drone camera market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drone camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the drone camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are two main types of drone cameras SD cameras and HD cameras. SD, or standard definition, pertains to camera quality with a pixel resolution of 240P or 480P. Pixels are the individual digital dots comprising a video image. Resolution options include 12 MP, 12 to 20 MP, 20 to 32 MP, and 32 MP and above. Drone cameras find application in photography and videography, thermal imaging, surveillance, and cater to various end-users, encompassing commercial, military, and homeland security sectors.

The drone camera market research report is one of a series of new reports that provides drone camera market statistics, including drone camera industry global market size, regional shares, competitors with a drone camera market share, detailed drone camera market segments, market trends and opportunities, and any further data you may need to thrive in the drone camera industry. This drone camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The drone camera market consists of sales of HD cameras, embedded cameras, thermal cameras, infrared (IR) camera sensors, OEM camera cores and camera modules. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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