Small Drones Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
Small
Drones Market will exhibit a CAGR of 15.92%and reach USD 22.55 billion by
the end of 2026, and the market value as per 2018 was USD 6.46 billion.
Fortune Business Insights™ in
a recently published report, titled, “Small Drone Market Size, Share
& Industry Analysis, By Type (Fixed-Wing, Rotary-Wing, and
Hybrid/Transitional), By Power Source (Lithium-ion cells, Hybrid Fuel cells,
and Solar cells), By Size (Micro, and Mini & Nano), By Application (Civil
& Commercial, Military, Homeland Security, and Consumer) and Regional
Forecast, 2015-2026.”
Small Drones Market Drivers and Restraint :
The
connectivity offered by (IoT) in industrial application for machine control
& production through satellites is projected to boost the market during
the forecast period. Industrial applications for IoT based devices are
exchanging real time data to the processing units, that help to enhance the
machine control and production operation in the manufacturing industry. IoT
devices use satellite connectivity to transmit & exchange real time
data between the IoT systems and components in the manufacturing process.
Earlier, data exchange between the machine control & production was
dependent on terrestrial GSM networks, which is now getting replaced by the
satellite connectivity. Satellite technology proves as a key enabler to
transform IoT connectivity across manufacturing industries and process
automation.
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Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/small-drones-market-102227
List of Significant Manufacturers Small Drones Market are:
- 3D
Robotics
- DJI
- Parrot
Drones SAS
- AeroVironment,
Inc.
- 3DR
- YUNEEC
- EHANG
- Kespry
- INSITU
- Delair
- AguaDrone.com
- Textron
- Autel
Robotics USA
Regional Analysis-
Increasing Number of Military Defence Contract to Aid Growth
The
report encompasses several factors that have contributed to the growth of the
market in recent years. Among all factors, the increasing number of military
contracts for small drones will have a positive impact on the growth of the
market. The increasing investment in R&D of the product will yield better
products. In a bid to establishing a stronghold in the market, several
companies are looking to acquire long term military contracts to enhance their
market share in the small drone market. In August 2019, Aerovironment signed a
contract with the United States Army for the supply of new drones. The contract
is said to be worth USD 45 million, wherein Aerovironment will supply RQ-11B
Raven drones to the US Army. US Army’s collaboration with Aerovironment will
not only help the company grow but will have a direct impact on the growth of
the global market in the coming years.
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/small-drones-market-102227
North America Leads the Global Market; Increasing Investments in
Product R&D to Aid Growth
The
market is segmented on the basis of regional demographics into North America,
Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among
these regions, the market in North America is projected to witness considerable
growth in the coming years, driven by the high investments in the R&D of
newer products. As of 2018, the market in North America was worth USD 3.16
billion and this value is projected to increase further in the coming years.
Besides North America, Asia Pacific is projected to witness considerable
growth, accounting to the high demand for small drones in emerging countries such
as India and China.
Some of the key industry developments in the Small
Drones Market Include:
- November
2018-AeroVironment signed a contract with the U.S. Department of Defense
for the distribution of RQ-20B Puma AE II small unmanned aircraft systems.
The contract is estimated to be worth USD 3.2 million.
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