Study predicts small drone market to reach USD22.5 billion by 2026

A study by Fortune Business Insights expects the small drone market to increase from USD6.46 billion in 2018 to USD22.55 billion in 2026. The company’s Aerospace & Defense division says this reflects a compound annual growth rate (CAGR) of 15.92% over the forecast period.

A summary by Fortune Business Insights reports North America as the largest market, due to growing investments in the small drone by several business firms and rising research and development. Border surveillance and maritime surveillance is also boosting the market.

The Asia Pacific meanwhile shows fastest growth rates, attributed to high demand from emerging economies including China, India and Japan. China is the lead manufacturer of drones and has a wide range of applications and strong domestic policy which supports usage of small drones.

Growth in Europe is also strong, with the UK revealing one of the largest fleets of small drones. The Middle East represents considerable growth opportunity and commercial applications are emerging in Africa and Latin America.

The study looks in-depth at market size, market drivers, segmentation, application, analysis by region, and lists key players with an analysis of market dynamics and the competitive landscape for manufacturers of small drones. The study is called: Small Drones 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.

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