Small Uav Market is Anticipated to Witness High Growth owing to Increased Use of Drones in Commercial and Defense Applications
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Small Uav Market |
The
global small UAV market is seeing increased adoption owing to various
commercial applications such as photography, precision agriculture, product
delivery, infrastructure inspection, oil & gas pipeline monitoring and
environmental monitoring among others. Small UAVs have become an integral part
of defense sector for applications including border monitoring, law
enforcement, search & rescue missions and IED detection. Featuring designs
that enable vertical take-off and landing along with compact size and easy
portability, small UAVs are witnessing widespread usage.
The small UAV market is estimated to be valued at US$ 6.67 billion in 2024 and
is expected to reach US$ 14.23 billion by 2031, growing at a compound annual
growth rate (CAGR) of 11.43% from 2024 to 2031.
The
market is witnessing growth on account of reduced payload capability,
endurance, size, weight, cost and pilot training requirements of small UAVs as
compared to medium altitude and high altitude UAVs. Their ability to be
optionally operated from a portable ground control system or hand-launched
makes them suitable for various applications.
Key Takeaways
Key players operating in the small UAV market are Northrop Grumman, Bayer Tech,
DJI, Parrot Drone SAS, Israel Aerospace Industry Ltd., AeroVironment, Inc.,
Lockheed Martin Corporation, Teledyne FLIR LLC, BAE Systems, Elbit Systems
Ltd., AIRBUS, Textron Inc., Autel Robotics, Yuneec, PowerVision Inc., Teledyne
Technologies Incorporated , Guangzhou Walkera Technology Co Ltd, Yuneec , Turkish
Aerospace Industries, and Others
The market is witnessing several opportunities such as development of swarm
technology enabling control and operation of multiple drones, sense and avoid
capabilities for improved flight safety and regulatory framework approvals for
BVLOS operations. The players are expanding globally through partnerships,
mergers and acquisitions to gain access to new technologies and tap into growth
opportunities across regions.
Market drivers and restrain:
The key drivers for small UAV market include expanding defense budgets of
developing nations for border monitoring and surveillance applications. Growing
demand from commercial sectors such as oil & gas, agriculture,
infrastructure inspection is also fueling the market growth. However, strict
regulations on non-compliant drones and vulnerability to hacking poses
challenge to market growth. Location restrictions and privacy concerns also
restrain wider adoption of small drones.
Segment Analysis
The small UAV market can be segmented into mini, nano and micro based on size.
The mini UAV segment is dominating currently due to its applications in defense
and commercial sectors. These compact drones provide useful reconnaissance and
surveillance capabilities to armed forces and law enforcement agencies. Their
easy portability and aerial monitoring features make them popular for
industrial inspections, photography and videography among commercial users.
The market can also be divided based on applications such as defense & law
enforcement, commercial and consumer. The defense & law enforcement sector
accounts for the largest share as small drones help enhance border security and
carry out tactical missions efficiently. Commercial segment is growing steadily
due to increasing employment of UAVs for precision agriculture, infrastructure
monitoring, utility inspection, product delivery and filmmaking. The consumer
segment is expanding rapidly driven by rising popularity of drones as toys and
hobby kits among individuals.
Global Analysis
Regionally, North America holds the largest share in the small UAV market owing
to substantial investments and advancing technologies from major players in
this region. Significant contribution comes from the US where drones are widely
adopted by the defense agencies and private companies. Europe and Asia Pacific
are rapidly emerging markets due to increasing acceptance of UAVs for
commercial activities across industries. Countries like China, Japan, India are
actively promoting drone usage while establishing regulatory norms. The Middle
East and Latin America also present substantial untapped potentials for small
drones with growing importance of UAVs for national security in these regions.
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Uav Market
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