Global Small Drones Market report published by Accurize Market Research forecast that the global market is expected to reach $40.3 billion by 2025; growing at a CAGR of 17.1% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Technological developments and the penetration of small drones in various sectors to drive the growth of the market
Technological developments and the penetration of small drones in various sectors fuel the demand for the global small drones market. Furthermore, rising demand for process automation in different energy verticals and integration of small drones with IT corporates also boosts the growth of the market.
The global small drones market has been bifurcated on the basis of size, payload, type, application, and geography. The size segment is further segmented into nano drones, micro drones, and mini drones. The payload segment can be bifurcated into cameras, sensors, telemetry systems, and others. Type segment can be further bifurcated into fixed-wing drones and rotary-wing drones. Furthermore, application segment includes defense forces, enforcement agencies, and commercial.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are covered under North America wherein Europe covers U.K, Germany, France, Russia, Sweden, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, Australia, and others. RoW covers South America, the Middle East, and Africa.
Top players in the market
The key market players include Northrop Grumman, Elbit Systems, Israel Aerospace Industries, Aerovironment, Lockheed Martin, Boeing, Aeronautics, Thales, DJI, Parrot, 3D Robotics and Textron, among others.