Global Drones Market Report and Forecast 2024-2032

Global Drones Market Outlook

The global drones market size reached approximately USD 38.25 billion in 2023. The market is further projected to grow at a CAGR of 22.4% between 2024 and 2032, reaching a value of USD 244.95 billion by 2032.

Key Trends in the Market

Drones, often known as unmanned aircraft systems or unmanned aerial vehicles, are flying robots that are remote controlled or fly autonomously with the help of software-controlled flight plans, that work in conjunction with global positioning system and onboard sensors. Drones are used for a wide range of applications including weather monitoring, search and rescue, and surveillance, among others.

• The high accuracy rate of drone package delivery services owing to technological advancements in IoT, machine learning, VTOL, and geospatial mapping, among others is boosting the drones market growth. The growing popularity of online shopping and rapid availability of health and wellness products is further propelling the demand for such services.

• The rising adoption of drones by the agricultural sector is aiding the market expansion. Agriculture drones aid in detection of harmful chemicals and bacteria present in the water streams and fields, enhancing the quality of the yield by curbing pest growth, allowing farmers and agriculturists to increase profits.

• The utilisation of drones for weather surveillance is rapidly increasing owing to their ability to efficiently collect meteorological data as opposed to traditional systems such as weather balloons. Drones offer more manoeuvrability and are better equipped to capture data in vertical columns.

Global Drones Market Analysis

On the basis of type, the market is divided into fixed-wing, rotary-wing, and hybrid. Based on application, the market is classified into construction, agriculture, energy, entertainment, and law enforcement, among others.

On the basis of region, the drones market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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. 

• Birds Eye Aerial Drones, LLC 

• Others

Market Share by Application

Construction sector accounts for a significant drones market share. The traditional land surveillance methods are being replaced by drones as they allow for reduction in labour costs while offering time efficiency. The utilisation of drones for performing visual inspection of high-risk areas on construction sites is increasing. Several surveyors and engineers prefer using drones for conducting inspections of high rise structures as they eliminate the scope of human error while capturing necessary data.

Market Share by Region

The Asia Pacific is anticipated to witness significant growth over the forecast period. This growth can be attributed to the recent evolution of drone regulations in various countries across the region and increasing manufacturing activities. The strong presence of various key market players including Terra Drone Corp. and SZ DJI Technology Co., Ltd., among others in the region is supporting the market expansion. The increasing deployment of drones in telecommunication, construction, and agriculture sectors is further boosting the drones market demand.

Competitive Landscape

SZ DJI Technology Co., Ltd. is involved in the manufacture and development of camera technology and drones for recreational and commercial applications. The company was founded in 2006 and is headquartered in Shenzhen, China.

Intel Corp., headquartered in California, United States, specialises in semiconductor design and manufacturing, autonomous driving solutions, drones, and non-volatile memory solutions. The company was founded in 1968.

Advanced Technology Labs AG (Yuneec) is involved in the development of multicopters for inspection, mapping, surveying, reconnaissance, and rescue, among others. The company was founded in 2016 and is headquartered in Zurich, Switzerland.

Other drones market key players include DELAIR SAS, Parrot Drones SAS, DroneDeploy, Inc., Terra Drone Corp., PrecisionHawk, Inc., Autel Robotics Co., Ltd., and Birds Eye Aerial Drones, LLC, among others.

Key Highlights of the Report