Latest News- Drone Market: Industrial is expected to lead the Application segment during 2025-2029

The Drone Market is being driven by Rise in applications of drones

The Drone Market is expected to grow at a CAGR of 14.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 37.1 billion. In the commercial sector, drones have emerged as a game-changer due to their agility, low maintenance costs, and unique hovering capability. These unmanned aerial vehicles (UAVs) are increasingly utilized in various industries, including wireless coverage and remote sensing, search and rescue (SAR) operations, delivery services, security and surveillance, precision agriculture, and civil infrastructure inspection. Drones significantly enhance SAR efforts during natural or man-made disasters, expediting rescue and recovery activities. They offer invaluable support during catastrophes such as floods, toxic gas releases, wildfires, and avalanches, by providing real-time aerial coverage of vast areas without endangering human safety or security. Furthermore, drones can deliver critical medical supplies to inaccessible locations and issue timely disaster warnings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Industrial
  • Terrestrial imagery and mapping
  • Precision agriculture
  • Inspection and monitoring
  • Others
• Type
  • Rotary blade
  • Fixed wing
  • Hybrid
• Technology
  • Remotely piloted
  • Optionally piloted
  • Fully autonomous
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in applications of drones
• Advancements in sensors and emergence of low-cost drones
• Rise in popularity of drone racing

However, the market also witnesses some limitations, which are as follows:

• Restrictive laws and regulations governing UAV use
• Safety and privacy issues
• Limitations associated with consumer camera drones

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Market Scope in Drone Market Research Report

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Research Analysis Overview

Unmanned aerial vehicles, also known as drones, are robotic aircraft that operate without human pilots on board. These Unmanned Aircraft Systems (UAS) include GPS technology for navigation, and have various applications such as traffic monitoring, videography, agriculture, delivery services, weather monitoring, search and rescue, and more. Commercial drones are used in sectors like construction and real estate for inspecting unstable roofs and electrical cables. In computing, drones use microcontrollers and processors for autonomous flight. Military applications include precision-guided bombs, missiles, autonomous drones, aerial photography, video recording, and surveillance for defence and border security operations.

Market Research Overview

The global aerospace and defense industry encompasses the manufacturing and provision of unmanned aerial systems (UAS), including unmanned aircraft and robots, for commercial and general aviation, as well as defense applications. These platforms are utilized in various sectors such as traffic monitoring, videography, agriculture, delivery services, weather monitoring, search and rescue, surveillance, military, and defense. Furthermore, the industry includes the maintenance, repair, and overhaul (MRO) activities related to these systems. The market size is determined by the combined revenue generated by manufacturers and providers in industries like aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors, as per Technavio's calculation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/