Small Drone Market Value $6.2 Billion by 2027 at a CAGR of 10.1%
(I-BusinessNews.Com, September 28, 2022 ) The report on the small drone market provides an analysis of the market from 2019 to 2027. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market. The small drone market is projected to grow from USD 3.8 billion in 2022 to USD 6.2 Billion by 2027, at a CAGR of 10.1% from 2022 to 2027.
The small drone market in the Asia Pacific region is expected to witness the highest growth during the forecast period. As the geopolitical situation in Asia Pacific is unstable, several countries are focusing on increasing their defensive capabilities. The prevailing trend of procurement of drones by emerging economies such as India, China, and Malaysia are expected to drive the growth of the small drone market in Asia Pacific. Since 2020, there has been exponential growth in adoption of drone technologies around the world. The rising demand for drone solutions and services from the commercial, military, and government & law enforcement is anticipated to fuel the growth of the small drone market during the projection period.
Based on platform, the small drone market has been segmented into civil & commercial and defense & government. The civil & commercial segment is further segmented into micro and small. Whereas the defense & government segment is further classified into nano, micro, and mini. segment holds the majority of market share in 2022 as the drones used in commercial applications are generally small drones weighing less than 25 kg. Also, the consumer drones used for entertainment are lightweight, compact, and cost-effective. The civil & commercial
Based on application, the small drone market has been classified into military, commercial, government & law enforcement, and consumer. Small drones are widely employed in military applications for intelligence, surveillance, and reconnaissance (ISR), combat operations, and battle damage management. General Atomics (US), Northrop Grumman (US), and IAI (Israel) are some key players that offer UAVs for use in military applications. Small drones in government & law enforcement applications are used for border management, traffic monitoring, firefighting & disaster management, maritime security, search & rescue, and police operations & investigations, while commercial small drones are used for inspection & monitoring, remote sensing, aerial imaging, product delivery, surveying & mapping, industrial warehousing, and passenger & public transportation
applications. DJI (China) and Parrot (France) are some key players that offer small drones for commercial applications.
Based on type, the market has been classified into fixed wing, rotary wing, and hybrid. The fixed-wing segment has been further divided into conventional take-off and landing (CTOL) and vertical take-off and landing (VTOL), while the rotary-wing segment has been classified into single rotor and multirotor. Small drone manufacturers worldwide are concentrating on the development of drones and increasing their production due to significant demand for them from entertainment, construction, agriculture, emergency response, mapping, law enforcement, surveillance, e-commerce, and wildlife protection sectors. The surge in small drone production and increase in their global demand are expected to fuel the market growth during the projected period.
The small drone market has been classified into fully autonomous, remotely piloted, and optionally piloted based on mode of operations. The fully autonomous segment fo small drone market is anticipated to grow at a highest compound annual growth rate during 2022-2027. The growth of this segment is due to the usage of cost efficient autonomous small drones in military and commercial applications. Whereas, an optionally piloted mode of operation deliver high maneuverability and comparatively low maintenance costs.
Based on power source, the small drone market is segmented into fuel-powered and battery-operated/electric. Both type of power source serves a unique purpose and ensures the proper functioning of small drones in different applications. The fuel powered power source is further classified into piston engine, turbo engine, and pulsejet. While the battery-operated/electric power source is further segmented into lithium-ion, nickel, and fuel cell.
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