The new report by Expert Market Research titled, ‘Global Small Drones Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global small drones market, assessing the market based on its segments like types, power sources, sizes, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 65%
The global market for small drones is being driven by the rising applicability of drones for various commercial and military purposes. Small sized drones are available in a different shapes and sizes, are portable, and have the ability to reach closed and confined persons, which are features propelling the growth of the market. In addition, the development of pocket-sized drones by leading manufacturers with strong hardware and lightweight structure, enhanced battery life, and fast speed are advantageously influencing the market in both commercial and military applications. The incorporation of advanced digital technology such as IoT and artificial intelligence (AI) in small drones to aid in remote operations is providing impetus to the market growth.
Industry Definition and Segmentation
Small unmanned aerial vehicles (SUAV) are miniature drones which are small enough to be portable. Small drones range from mini drones and micro/nano drones and are commonly available as fixed-wing drones, rotary-wing drones, and hybrid/transitional drone types.
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Based on type, the market can be categorised into:
- Fixed-Wing Drones
- Rotary-Wing Drones
- Hybrid/Transitional Drones
The market, based on power source, can be segmented into:
- Lithium-Ion
- Solar Cell
- Fuel Cell
- Hybrid Cell
On the basis of size, the market can be divided into:
- Mini Drones
- Micro/Nano Drones
Based on application, the market can be classified into:
- Commercial
- Defence
The regional markets for the product include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The market growth of small drones can be associated with the increased military expenditure, fuelled by the rising concerns regarding national security and increasing cases of terrorism and cross-country disputes. In this regard, small drones are utilised for surveillance purposes. Small drones deployed in military use are equipped with advanced sensors and cameras, along with progressive and user-friendly digital software. In addition, the development of pocket-sized drones by leading manufacturers with strong hardware and lightweight structure, enhanced battery life, and fast speed are further influencing the market.
Key Market Players
The major players in the market are Aerovironment, Inc., Lockheed Martin Corporation, Aeronautics Ltd., Thales Group, and Elbit Systems, Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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