Global drone market to rise from ‘USD28.5b in 2021 to USD260b in 2030’ – Spherical Insight

The global drone market is expected to reach USD 260 billion by 2030, at a CAGR of 27% during the forecast period 2022 to 2030, according to a report published by Spherical Insights. The report finds the drone market was worth USD28.5 billion in 2021, rising to USD260 billion in 2030 at 27% CAGR.

The research report categorizes the market for Global Drone Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Drone Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Drone Market.

Driving Factors

Technological development in electronics and integrations of modern technologies such as artificial intelligence (AI) and machine learning (ML) into drones using modern computing, microcontrollers, processors, and mobile hardware is driving the industry to new heights. They enable high-speed data capture, processing, and transfer for their consumers, allowing them to make real-time, data-driven decisions. Artificial intelligence helps drones to work efficiently by managing and storing massive volumes of data with cloud technologies. Skydio, Inc., a drone manufacturer, presented the Skydio X2 AI-enabled drone to meet the demand of the most sophisticated fleets in the drone market.

Increasing adoption of drones in several applications, including internet provision in remote locations, aerial videography & photography, survey and diarizing flora & fauna, and public services missions is expected to grow the demand for the drone market. Moreover, sectors with high rates of crime and labour expenses are also more likely to see the development of traditional use cases like monitoring, surveillance, and security.

In the foreseeable future, innovation, governmental regulatory changes, and new use case opportunities could have a substantial impact on any or all of the businesses in the drone market. There are numerous opportunities in the drone industry. Agriculture, oil and gas, real estate, government, transportation, entertainment and media, telecommunications, and mining are among the emerging sectors for drone technologies.

Companies covered include the following:

Aeronavics Ltd., 3D Robotics, XAG Co. Ltd., Skydio, EHANG, Joby Aviation, Inc., Ondas Holdings Inc., AeroVironment Inc., The Boeing Company, Chengdu JOUAV Automation, SKYDIO, Lockheed Martin Corporation, Draganfly Innovations Inc., Draganfly Inc., SZ DJI Technology Co., Ltd. , Intel Corporation, DELAIR, Eve Holding, Inc., PrecisionHawk Inc., EHang Holdings Limited, NVIDIA Corporation, Yuneec International, AgEagle Aerial Systems, Inc., Ambarella, Inc., Autel Robotics, Parrot Drones SAS, Leptron Unmanned Aircraft Systems, Inc., Kratos Defense & Security Solutions, Inc.

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