Small Drones Market to Reach $24.29 Billion, Globally, by 2030 at 13.1% CAGR: Allied Market Research

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Jul 27, 2022, 03:30 ET

Increased operational efficiency and surge in demand for enhanced surveillance activities fuel the growth of the global small drones market.

PORTLAND, Ore. , July 27, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Small Drones Market by Size (Nano drones and Micro drones), Type (Fixed Wing and Rotary Wing), and Application (Commercial, Defense, and Recreational): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global small drones industry generated $7.44 billion in 2020, and is expected to reach $24.29 billion in 2030, witnessing a CAGR of 13.1% from 2021 to 2030.

Drivers, Restraints, and Opportunities

Surge in operational efficiency and rise in demand for improved surveillance drive the growth of the global small drones market. However, stringent drone regulations hinder the market growth. On the other hand, advancements in drone technologies create new opportunities in the coming years.

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Covid-19 Scenario:

The nationwide lockdown led to partial or complete shutdown of small drone manufacturing facilities. In addition, the shortage of raw materials and disruptions in the supply chain impacted the manufacturing activities.
New deployment activities and initiatives were delayed due to the Covid-19 pandemic. The import-export activities were impacted due to ban by government authorities. The manufacturing and deployment activities are expected to get back on track post-lockdown.

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The rotary wing segment to continue its lead position during the forecast period

Based on type, the rotary wing segment contributed to the highest share in 2020, accounting for around 92% of the global small drones market, and is estimated to continue its lead position during the forecast period. This is due to high demand for rotary wing drones across numerous industrial applications worldwide. However, the fixed wing segment is expected to manifest the highest CAGR of 15.6% from 2021 to 2030, owing to rise in demand for their high flight range.

The recreational segment to maintain its leadership status during the forecast period

Based on application, the recreational segment held the largest share in 2020, accounting for nearly half of the global small drones market, and is projected to maintain its leadership status during the forecast period. This is attributed to high demand for recreational purposes such as photography, videography, and delivery. However, the commercial segment is estimated to portray the highest CAGR of 14.2% from 2021 to 2030, owing to surge in deployment to improve efficiency of different commercial applications.

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North America to continue its dominance in terms of revenue by 2030

Based on region, North America accounted for the highest market share in 2020, holding more than one-third of the global small drones market, and is expected to continue its dominance in terms of revenue by 2030. This is attributed to surge in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making reliable, precise, & efficient small drones. However, Asia-Pacific is estimated to manifest the fastest CAGR of 14.9% from 2021 to 2030. This is due to rise in adoption of small drones for surveillance and recreational purposes in countries such as China, India, and Japan.

Leading Market Players

3DR
AeroVironment Inc.
Autel Robotics
BAE Systems Plc.
DJI Technology
Hubsan
Elbit Systems Ltd.
Parrot SA
SkyDio
Teledyne FLIR LLC.

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