Market research provider Fact.MR reports the global emergency drone market is estimated at USD4,885 million in 2023 and is expected to expand at CAGR of 13.1% during the forecast years of 2023-2033.
Drones were initially used to obtain accurate data and photographs to aid in decision-making for military and defence applications. However, drones are now used in many different industries and applications because to technical improvement, says the press release.
Drones have become essential in critical situations. In addition, connectivity enhances their versatility and capacity to reach the most remote areas and act as an effective problem-solving aid. Drones play an important role in emergency and rescue work. Due to these increasing applications of emergency drones, market growth is up-surging.
Key Takeaways from Market Study
- The global emergency drone market is projected to expand at an impressive CAGR of 13.1% and be valued at USD16,729.8 million by 2033
- The market witnessed 11.6% CAGR for the period of 2018-2022
- Under type, rotary wing emergency drone dominated the market and are valued at USD2,623.2 million in 2023
- North America and Europe dominated the market with 30.1% and 31.4% market share in 2022
- By end user, disaster management application is likely to represent 23.1% market share in 2023
- Emergency drone sales due to hybrid wing type is expected gain market share of 25.4% in 2023
Many industries, research institutions and start-ups started working on emergency drone due to increasing demand and investment from government regarding use of drones in disaster response management programs.
Asia region houses several key manufacturers in the emergency drones market and shows immense growth opportunities, however increasing stringency in regulations by government will hamper the market growth. Emerging market players must shift their to developing countries such as India, Canada, Germany, and others for maximal returns.
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