Global Drones Market to Grow at a CAGR of 22.4% During 2024-2032, Aided by Rapid Technological Advancements and Increasing Demand from the E-commerce Sector

Drones, also known as unmanned aircraft systems, are flying robots controlled remotely or autonomously using software, GPS, and sensors. They are used in various applications, such as weather monitoring, search and rescue, and surveillance. The drones market is growing due to advances in IoT, machine learning, VTOL, and geospatial mapping, which improve the accuracy of drone delivery services. The increase in online shopping and the demand for quick delivery of health and wellness products also boost the market growth.

In agriculture, drones help monitor crops and apply pesticides, improving yield and increasing profits for farmers. Drones are also becoming popular for weather surveillance as they can collect meteorological data more effectively than traditional methods, offering better manoeuvrability and data capture in vertical columns.

Drones, due to their improved precision and surveillance capabilities, are widely used for military and defence applications. According to the Stockholm International Peace Research Institute (SIPRI), military expenditure as a percentage of GDP from 2018 to 2022 has witnessed an increase. The military spending remained steady at 2.1% of GDP in 2018 and 2019. In 2020, there was an increase to 2.3%, likely reflecting heightened global tensions or increased defence needs. In 2021, spending slightly decreased to 2.2% but rose again to 2.3% in 2022. The trend indicates a general increase in military expenditure over the five years, suggesting that countries are prioritizing defence spending amid growing security concerns.

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In August 2024, Skye Air Mobility and CARiTAS Hospital in Kerala, India partnered to use drones for delivering medical supplies, significantly reducing delivery times and enhancing healthcare accessibility in remote areas. This initiative aims to establish an aerial supply chain that minimizes costs, reduces carbon emissions, and serves as a model for future healthcare logistics in India.

Market Breakup by Type, Application, and Region:

• Based on type, the market is divided into fixed-wing, rotary-wing, and hybrid. 

• The market by application is segmented into construction, agriculture, energy, entertainment, law enforcement, and others. 

• Region-wise, the drone market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The drones market is expanding due to technological advancements that have enhanced the precision and reliability of drone operations, particularly in delivery services.

• In agriculture, drones play a critical role in applying pesticides and monitoring conditions more effectively than traditional methods, thus improving crop yield.

• The increase in defence and military expenditure of countries due to heightened global tensions or security needs is expected to support the market demand. 

• The developed regions like North America and Europe are significant markets due to the early adoption of advanced technologies and well-established infrastructure.

Key Offerings of the Report:

• The EMR report gives an overview of the global drones market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, application, and major regions of drones.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global drones market are SZ DJI Technology Co., Ltd., Intel Corp., Advanced Technology Labs AG (Yuneec), DELAIR SAS, Parrot Drones SAS, DroneDeploy, Inc., Terra Drone Corp., PrecisionHawk, Inc., Autel Robotics Co., Ltd., and Birds Eye Aerial Drones, LLC, amongst others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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