Drone Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

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Drone Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

Status : March, 2021 | Technology & Media

Report Digest

Drone Market: Overview

Drones have evolved from just being a military utility to serving as a prominent commercial utility. This transformation may invite exponential growth for the global drone market during the forecast period of 2019-2029. Drones have truly become a powerful business tool for various end-uses ranging from firefighting to farming. All these aspects also invite substantial growth opportunities for the global drone market.

Governments of various countries are introducing drone-friendly regulations seeing their growing use in day-to-day life. This factor may serve as an important growth aspect of the drone market. The commercial use of drones is still in a nascent stage but it has immense capability to boost the growth of the drone market in the coming years.

Drone Market: Competitive Prospects

The drone market comprises numerous players. Manufacturers in the drone market are investing heavily in research and development activities to explore untapped growth prospects. Initiatives and support from governments of various countries are also proving to be of great importance and serving as a growth factor for the drone market.

Some well-entrenched players in the drone market are Parrot, 3DRobotics, AeroVironment, Northrop Grumman, Textron, and Boeing.

Drone Market: Investments and Funding

New entrants are penetrating in the drone market and are acquiring funding to develop novel technologies. Local startups are being encouraged for bringing extensive growth and this factor may serve as a prominent growth generator during the assessment period. Here are some recent funding activities that took place in the drone market.

  • Skytools, a Dutch startup has gained investment from Terra Dorne and this will help in creating Europe’s largest drone hub in Rotterdam.
  • Easy Aerial, an autonomous drone-based monitoring solutions firm recently secured $6.15 mn in Series A funding.

Drone Market: Role in COVID-19 Pandemic

The demand for drones is increasing due to use for various purposes for preventing the deadly COVID-19 transmission. Some of the uses of drones during the SARS-CoV-2 outbreak are as follows:

Surveillance: During the strict lockdown implementations across the various parts of the world on the grounds of COVID-19, many countries used drones for surveying areas to monitor the movement of people and avoid large gatherings.

Sanitization: Health authorities are assigning drones the responsibility of large-scale disinfection of public spaces. Drones can cover a large area at a faster rate and can also prevent human-to-human transmission.

Temperature Check: Drones are also being used for checking temperatures. Drones avoid human contact and can enable faster temperature checking. For instance, during the peak of the novel coronavirus in China, drones installed with infrared technology were used to measure the temperature of the citizens at their homes.

Drone Market: Delivery Operations Bringing Extensive Growth

Drones are being tested for delivery operations and a majority of companies have also started such deliveries in various parts. For instance, Amazon recently received approval from the Federal Aviation Administration to operate delivery drones.

 In another development, Brazil’s National Civil Aviation Agency approved Speedbird Aero, a drone delivery company to operate on two experimental drone delivery routes. It is the first company in Latin America to win regulatory approval for drone delivery operations. Similar developments may invite expansive growth prospects for the drone market.

Drone Market: Geographical Aspects

North America may emerge as the largest regional growth contributor for the drone market. Asia Pacific may record exponential growth across the forecast period due to rapid developments. India is emerging as a hub for drone startups due to various initiatives. The digital sky platform by the Government of India is a classic instance. China and Japan are also making great advancements in drone technology and inviting great growth opportunities for the drone market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?