Small Drones Market Overview:
In the past few years, the drones have increasingly penetrated in several business verticals. The adoption rates of small drones have grown extensively and various companies have integrated aerial data in their workflows to improve efficiency and streamline the operations. Small drones have the capability to capture data and, thus can transform the operations of companies. Furthermore, it also offers unparalleled insights of the data and delivers ROI for both large enterprises & small- and medium-enterprises (SMEs).
Small drones are remotely operated and gather information with minimal human intervention and with no requirement of a person on board. These drones are also utilized in film production, news bulletins, and music videos for creating aerial videos. They are used to inspect and investigate lands that are impenetrable or difficult to reach, due to their longer operational capacity.
The market is driven by factors such as increased commercial applications and enhanced operational efficiency. However, threats including lack of skilled pilots and strict airspace regulations hamper the small drones market growth.
Significant players operating in the small drones market are Lockheed Martin Corporation, Aerovironment Inc., Elbit Systems, Ltd., Parrot SA, 3D Robotics Inc., BAE Systems, Inc., The Boeing Company, SAAB AB, Thales Group, and Textron Inc.
The small drones market is segmented on the basis of size, type, application, and region. Based on size, it is bifurcated into mini and micro/nano drones. Based on type, it is classified into fixed wing and rotary wing. Defense and commercial are the applications of small drones analyzed in the report. The small drones market is segmented into regions such as North America, Europe, Asia-Pacific, and LAMEA including country-level analysis for each region.
Top Impacting Factors
Factors that are expected to impact the global small drones market during the forecast period are rise in need for enhanced surveillance, increment in operational efficiency, modernization of military with respect to technology, and decline in defense budgets of advanced economies. However, the impact of factors, such as lack of skilled pilots, is expected to diminish during the forecast period.
Growth in Need for Enhanced Surveillance
High threat from terrorism and increase in security concerns globally have led to increased governmental expenditure for small drones. Small drones are used for surveillance of major events in large cities. In addition, several government agencies have mandated strict policies and guidelines to be complied for installation of small drones at high-risk locations.
Modernization of Military and Decline in Defense Budgets of Advanced Economies
Various nations are expected to lay out a comprehensive military modernization program as a part of their national defense strategy. These nations are expected to be dependent on unmanned systems for information gathering, reconnaissance, observation, and communication. The reduced cost and advancement in smaller drones are expected to enhance national security at a comparatively lower cost than by using other sophisticated weapons. Decline in defense budgets of advanced economies as compared to their GPD boost the use of small drones.
Lack of Skilled Pilots
Dearth of skilled pilots to operate advanced drones to gather accurate data in both defense sector and for commercial purposes negatively impacts the small drones market growth.
- This study comprises analytical depiction of the global small drones market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the small drones market.
- Porters Five Forces analysis illustrates the potency of the buyers and suppliers in the small drones industry.
Small Drones Market Key Segments:
- Mini Drones
- Micro/Nano Drones
- Fixed Wing
- Rotary Wing
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled
- Lockheed Martin Corporation
- Aerovironment Inc.
- Elbit Systems, Ltd.
- Parrot SA
- 3D Robotics Inc.
- BAE Systems, Inc.
- The Boeing Company
- SAAB AB
- Thales Group
- Textron Inc.