This Drones market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The drones market size has grown exponentially in recent years. It will grow from $30.53 billion in 2023 to $36.7 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth during the historic period can be attributed to improved transportation efficiency, a rise in drone applications, enhanced capabilities of drone platforms, and greater use of drones for surveillance.
The drones market size is expected to see exponential growth in the next few years. It will grow to $77.39 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth during the forecast period can be attributed to an increased focus on sustainability and environmental protection, a rising demand for photographic surveillance, the growing popularity of drone racing, and expanded use in both commercial and recreational settings. Major trends include the adoption of drones in the commercial sector, technological advancements in drone technology and communication systems, and increased collaborations and partnerships.
The growth of the commercial sector is expected to drive the expansion of the drone market in the coming years. The commercial sector encompasses businesses and industries that generate profit by selling and distributing goods and services. Factors contributing to the expansion of this sector include the increasing interconnectedness of global markets, evolving consumer preferences, rising disposable incomes, access to venture capital and private equity, as well as regulatory reforms. Drones provide significant benefits to the commercial sector by enhancing efficiency and reducing costs in tasks such as inspections and deliveries, while also facilitating improved data collection and enhancing safety in hazardous environments. For example, in May 2024, the UK Parliament reported that the number of private sector businesses in the UK reached 5.6 million in January 2023, representing a 0.8% increase compared to 2022. Thus, the expansion of the commercial sector is fueling the growth of the drone market.
Major players in the drone industry are concentrating on developing advanced technological solutions, such as all-in-one drone systems, to enhance operational efficiency and offer versatile applications across different sectors. An all-in-one drone system integrates multiple functionalities, including flight control, cameras, sensors, and software, into a single comprehensive solution for various uses. For example, in October 2023, Verge Aero, a US-based drone manufacturer, introduced the Verge Aero X7 drone. This state-of-the-art drone is designed to elevate the aerial entertainment industry with its advanced hardware and software features. The X7 aims to simplify the production of drone shows, making it more accessible for individuals and organizations to create displays of various complexities. Equipped with advanced GPS capabilities, quick-charging batteries, and improved weather resistance, the X7 delivers reliable performance under diverse conditions. Additionally, Verge Aero provides a complete starter package that includes fifty drones and full software access, reinforcing its dedication to making drone technology more accessible to a broader audience.
In May 2024, Airbus SE, an aircraft manufacturing company based in the Netherlands, acquired Aerovel Corporation for an undisclosed sum. This acquisition is part of Airbus's strategy to enhance its tactical unmanned aerial systems portfolio and leverage opportunities in the U.S. military and civilian markets, including the Pentagon's Replicator program, which focuses on cost-effective drone deployment and improved defense interoperability. Aerovel, a U.S.-based company, is known for its expertise in developing and manufacturing small, long-endurance unmanned aerial systems (UAS).
Major companies operating in the drones market are Sony Group Corporation, Lockheed Martin Corporation, Intel Corporation, BAE Systems plc, Leonardo S.p.A., Textron Inc., Northrop Grumman Corporation, Elbit Systems Ltd., Saab AB, General Atomics Aeronautical Systems Inc., FLIR Systems Inc., AgEagle Aerial Systems Inc., SZ DJI Technology Co. Ltd., Kratos Defense & Security Solutions Inc., Insitu Inc., Yuneec International Co. Ltd., AeroVironment Inc., Autel Robotics Co. Ltd., Parrot Drones SAS, Microdrones GmbH, Aereon Group LLC, Skydio Inc., Delair SAS, Terra Drone Corporation, PrecisionHawk Inc., EHang Holdings Limited.
North America was the largest region in the drones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A drone, also known as an unmanned aerial vehicle (UAV), is a type of aircraft that operates without a human pilot on board. They can be remotely controlled by an operator or operate autonomously through pre-programmed flight plans or onboard sensors. Drones come in various sizes and designs, from small consumer models to large industrial systems, and can be equipped with various sensors, cameras, and other technologies to perform their specific tasks.
The main types of drones are rotary blades, fixed wings, and hybrids. Rotary blade drones refer to unmanned aerial vehicles (UAVs) that use one or more rotors to generate lift and propulsion. These drones can be powered by different propulsion types, such as heat engines, electric engines, jet engines, and others, and serve various applications, including industrial use, terrestrial imagery and mapping, precision agriculture, inspection and monitoring, and others. And these drones cater to a wide range of industries, including agriculture, construction and infrastructure, media and entertainment, logistics and transportation, defense and military, and more.
The drones market research report is one of a series of new reports that provides drones market statistics, including drones industry global market size, regional shares, competitors with a drones market share, detailed drones market segments, market trends and opportunities, and any further data you may need to thrive in the drones industry. This drone market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The drones market consists of sales of camera drones, agricultural drones, delivery drones, and racing drones. 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.
This product will be delivered within 3-5 business days.
The drones market size has grown exponentially in recent years. It will grow from $30.53 billion in 2023 to $36.7 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth during the historic period can be attributed to improved transportation efficiency, a rise in drone applications, enhanced capabilities of drone platforms, and greater use of drones for surveillance.
The drones market size is expected to see exponential growth in the next few years. It will grow to $77.39 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth during the forecast period can be attributed to an increased focus on sustainability and environmental protection, a rising demand for photographic surveillance, the growing popularity of drone racing, and expanded use in both commercial and recreational settings. Major trends include the adoption of drones in the commercial sector, technological advancements in drone technology and communication systems, and increased collaborations and partnerships.
The growth of the commercial sector is expected to drive the expansion of the drone market in the coming years. The commercial sector encompasses businesses and industries that generate profit by selling and distributing goods and services. Factors contributing to the expansion of this sector include the increasing interconnectedness of global markets, evolving consumer preferences, rising disposable incomes, access to venture capital and private equity, as well as regulatory reforms. Drones provide significant benefits to the commercial sector by enhancing efficiency and reducing costs in tasks such as inspections and deliveries, while also facilitating improved data collection and enhancing safety in hazardous environments. For example, in May 2024, the UK Parliament reported that the number of private sector businesses in the UK reached 5.6 million in January 2023, representing a 0.8% increase compared to 2022. Thus, the expansion of the commercial sector is fueling the growth of the drone market.
Major players in the drone industry are concentrating on developing advanced technological solutions, such as all-in-one drone systems, to enhance operational efficiency and offer versatile applications across different sectors. An all-in-one drone system integrates multiple functionalities, including flight control, cameras, sensors, and software, into a single comprehensive solution for various uses. For example, in October 2023, Verge Aero, a US-based drone manufacturer, introduced the Verge Aero X7 drone. This state-of-the-art drone is designed to elevate the aerial entertainment industry with its advanced hardware and software features. The X7 aims to simplify the production of drone shows, making it more accessible for individuals and organizations to create displays of various complexities. Equipped with advanced GPS capabilities, quick-charging batteries, and improved weather resistance, the X7 delivers reliable performance under diverse conditions. Additionally, Verge Aero provides a complete starter package that includes fifty drones and full software access, reinforcing its dedication to making drone technology more accessible to a broader audience.
In May 2024, Airbus SE, an aircraft manufacturing company based in the Netherlands, acquired Aerovel Corporation for an undisclosed sum. This acquisition is part of Airbus's strategy to enhance its tactical unmanned aerial systems portfolio and leverage opportunities in the U.S. military and civilian markets, including the Pentagon's Replicator program, which focuses on cost-effective drone deployment and improved defense interoperability. Aerovel, a U.S.-based company, is known for its expertise in developing and manufacturing small, long-endurance unmanned aerial systems (UAS).
Major companies operating in the drones market are Sony Group Corporation, Lockheed Martin Corporation, Intel Corporation, BAE Systems plc, Leonardo S.p.A., Textron Inc., Northrop Grumman Corporation, Elbit Systems Ltd., Saab AB, General Atomics Aeronautical Systems Inc., FLIR Systems Inc., AgEagle Aerial Systems Inc., SZ DJI Technology Co. Ltd., Kratos Defense & Security Solutions Inc., Insitu Inc., Yuneec International Co. Ltd., AeroVironment Inc., Autel Robotics Co. Ltd., Parrot Drones SAS, Microdrones GmbH, Aereon Group LLC, Skydio Inc., Delair SAS, Terra Drone Corporation, PrecisionHawk Inc., EHang Holdings Limited.
North America was the largest region in the drones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A drone, also known as an unmanned aerial vehicle (UAV), is a type of aircraft that operates without a human pilot on board. They can be remotely controlled by an operator or operate autonomously through pre-programmed flight plans or onboard sensors. Drones come in various sizes and designs, from small consumer models to large industrial systems, and can be equipped with various sensors, cameras, and other technologies to perform their specific tasks.
The main types of drones are rotary blades, fixed wings, and hybrids. Rotary blade drones refer to unmanned aerial vehicles (UAVs) that use one or more rotors to generate lift and propulsion. These drones can be powered by different propulsion types, such as heat engines, electric engines, jet engines, and others, and serve various applications, including industrial use, terrestrial imagery and mapping, precision agriculture, inspection and monitoring, and others. And these drones cater to a wide range of industries, including agriculture, construction and infrastructure, media and entertainment, logistics and transportation, defense and military, and more.
The drones market research report is one of a series of new reports that provides drones market statistics, including drones industry global market size, regional shares, competitors with a drones market share, detailed drones market segments, market trends and opportunities, and any further data you may need to thrive in the drones industry. This drone market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The drones market consists of sales of camera drones, agricultural drones, delivery drones, and racing drones. 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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Drones Market Characteristics3. Drones Market Trends and Strategies32. Global Drones Market Competitive Benchmarking33. Global Drones Market Competitive Dashboard34. Key Mergers and Acquisitions in the Drones Market
4. Drones Market - Macro Economic Scenario
5. Global Drones Market Size and Growth
6. Drones Market Segmentation
7. Drones Market Regional and Country Analysis
8. Asia-Pacific Drones Market
9. China Drones Market
10. India Drones Market
11. Japan Drones Market
12. Australia Drones Market
13. Indonesia Drones Market
14. South Korea Drones Market
15. Western Europe Drones Market
16. UK Drones Market
17. Germany Drones Market
18. France Drones Market
19. Italy Drones Market
20. Spain Drones Market
21. Eastern Europe Drones Market
22. Russia Drones Market
23. North America Drones Market
24. USA Drones Market
25. Canada Drones Market
26. South America Drones Market
27. Brazil Drones Market
28. Middle East Drones Market
29. Africa Drones Market
30. Drones Market Competitive Landscape and Company Profiles
31. Drones Market Other Major and Innovative Companies
35. Drones Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Drones Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on drones market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for drones? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The drones market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Rotary Blade; Fixed Wing; Hybrid2) By Propulsion Type: Heat Engine; Electrical Engine; Jet Engines; Other Propulsion Types
3) By Application: Industrial; Terrestrial Imagery And Mapping; Precision Agriculture; Inspection And Monitoring; Other Applications
4) End User: Agriculture; Construction And Infrastructure Industry; Media And Entertainment; Logistics And Transportation; Defense And Military; Others End Users
Key Companies Mentioned: Sony Group Corporation; Lockheed Martin Corporation; Intel Corporation; BAE Systems plc; Leonardo S.p.A.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies profiled in this Drones market report include:- Sony Group Corporation
- Lockheed Martin Corporation
- Intel Corporation
- BAE Systems plc
- Leonardo S.p.A.
- Textron Inc.
- Northrop Grumman Corporation
- Elbit Systems Ltd.
- Saab AB
- General Atomics Aeronautical Systems Inc.
- FLIR Systems Inc.
- AgEagle Aerial Systems Inc.
- SZ DJI Technology Co. Ltd.
- Kratos Defense & Security Solutions Inc.
- Insitu Inc.
- Yuneec International Co. Ltd.
- AeroVironment Inc.
- Autel Robotics Co. Ltd.
- Parrot Drones SAS
- Microdrones GmbH
- Aereon Group LLC
- Skydio Inc.
- Delair SAS
- Terra Drone Corporation
- PrecisionHawk Inc.
- EHang Holdings Limited
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | December 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 36.7 Billion |
Forecasted Market Value ( USD | $ 77.39 Billion |
Compound Annual Growth Rate | 20.5% |
Regions Covered | Global |
No. of Companies Mentioned | 27 |