Small Drone Market to Reach $24.29 Billion Globally by 2030 at a CAGR of 13.1%: Allied Market Research
Increased operational efficiency and rising demand for improved surveillance activities are fueling the growth of the global small drone market.
PORTLANDOre. , July 27, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Small drone market By Size (Nano Drones and Micro Drones), Type (Fixed Wing and Rotary Wing) and Application (Commercial, Defense and Leisure): Global Opportunities Analysis and Industry Forecast, 2021-2030. » According to the report, the global small drone industry generated $7.44 billion in 2020, and should reach $24.29 billion in 2030, witnessing a CAGR of 13.1% from 2021 to 2030.
Drivers, constraints and opportunities
Increasing operational efficiency and rising demand for improved surveillance is driving the growth of the global small drone market. However, strict drone regulations are hampering the growth of the market. On the other hand, advances in drone technologies are creating new opportunities in the coming years.
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- The nationwide lockdown has caused small drone manufacturing facilities to be partially or completely shut down. In addition, raw material shortages and supply chain disruptions have impacted manufacturing activities.
- New activities and rollout initiatives have been delayed due to the Covid-19 pandemic. Import-export activities were impacted due to the ban by government authorities. Manufacturing and deployment activities should get back on track after the lockdown.
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The rotary-wing segment will continue its leading position during the forecast period
Based on type, the rotary wing segment contributed the highest share in 2020, accounting for around 92% of the global small drone market, and is expected to maintain its leading position during the forecast period. This is due to the high demand for rotary wing drones in many industrial applications around the world. However, the fixed-wing segment is expected to show the highest CAGR of 15.6% from 2021 to 2030, owing to the increase in demand for their high flight range.
The recreational segment to maintain its leading status during the forecast period
Based on application, the recreational segment held the largest share in 2020, accounting for nearly half of the global market small drone market, and is expected to maintain its leading status over the forecast period. This is attributed to the high demand for recreational purposes such as photography, videography and delivery. However, the commercial segment is estimated to have the highest CAGR of 14.2% from 2021 to 2030, owing to the increase in deployment to improve the efficiency of different commercial applications.
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North America maintain revenue dominance by 2030
Based on the region, North America accounted for the highest market share in 2020, holding more than a third of the global small drone market, and is expected to continue its revenue dominance by 2030. This is attributed to increasing R&D activities, to the technological developments of the main players, and the rapid adoption of innovative technologies in the manufacture of reliable, precise and efficient small drones. However, Asia Pacific it is estimated to manifest the fastest CAGR of 14.9% from 2021 to 2030. This is due to the increase in the adoption of small drones for surveillance and recreational purposes in countries such as China, Indiaand Japan.
Main market players
- AeroVironment Inc.
- Robotic Altar
- BAE Systems Plc.
- DJI Technology
- Elbit Systems Ltd.
- Parrot S.A.
- Teledyne FLIR LLC.
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