Drone or Unmanned Aerial Vehicles (UAVs) are frequently used for carrying out military operations. Nonetheless, these unmanned aircrafts are also being increasingly used for undertaking non-military affairs owing to their groundbreaking aerial capabilities. Unlike the traditional aircraft, drones can fly for longer durations. Moreover, they come in various price rang depending on the features. Demand for drones has been significantly high in recent years. As per a study conducted by Fact.MR the global drone market is expected to increase at an impressive CAGR of 22.8% during 2017 to 2022. Drones are considered as innovative aerial vehicles that have exceptional combat capabilities, which is why they are being used by various countries for defense purposes. Currently, drones are playing an important part in countering anti-social activities and terrorism.
Following highlights from the Fact.MR’s forecast on the global market for drone is expected to assert the market’s future prospects
In terms of revenue, military drones are expected to account for the largest share of the market during the forecast period. In addition, this product type segment of the global drone market is estimated to surpass a multibillion dollar valuation towards the end of 2022. Meanwhile, the commercial drone segment is anticipated to stand at a little over US$ 6 Bn over 2022.
Drones with 25 kg – 150 kg payload are expected to witness strong demand throughout the assessment period. This payload segment is likely to cross a market valuation of US$ 3,839 Mn. Meanwhile. The 150 kg – 600 kg payload segment is projected to register the fastest CAGR over 2022.
On the basis of application, drones will be used mainly for border security purposes. The border security application segment is expected to contribute a large portion to the global drone market revenue. By 2022-end, this segment is estimated to procure heavy revenues. In addition, this application segment is projected to gain 16 BPS from 2017 to 2022. Apart from military and defense, drones are increasing finding application is other sectors such as aerial photography, agriculture, construction, and film and entertainment.
Key companies in the global market for drone include DJI, AeroVironment, Inc, CyPhy works Inc., 3D Robotics, Sentra, LLC, Agribiotix, LLC, AgEagle Aerial Systems, Skycatch, Inc., Airware, Precision Hawk Inc., and SenseFly SA.
Key Segments of the Drone Market
Fact.MR’s study on the drone market offers information classified into four important segments: product, payload, application, and region. This market report proposes comprehensive data and information about the important market changing aspects and evolution structures related to these categories.
Commercial DroneMilitary Drone
Upto 25 Kg25 Kg – 150 Kg150 Kg – 600 KgAbove 600 Kg
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
This Implantable Port Devices market research analysis comprehends the industry in both developed and emerging markets, both now and in the future. By emphasizing the company priorities, the Implantable Port Devices market report aids in realigning the corporate strategies. It sheds light on the market and industry segment predicted to be dominant. It predicted which areas will experience the quic...
This Driveline System for Electric Vehicle market research report covers an essential resource for top-line data and analysis. Various factors related to the market growth such as market size and segmentation data, textual and graphical analysis of market growth tr...
This Pump Casing Materials market research report covers an essential resource for top-line data and analysis. Various factors related to the market growth such as market size and segmentation data, textual and graphical analysis of market growth trends, and leadin...
Ipriflavone is a synthetic isoflavone derived from soybeans that is often used as a dietary supplement to support bone health and reduce the risk of osteoporosis. It is believed to work by stimulating bone formation and reducing bone resorption, leading to increase...