[290 Pages Report] Enhanced operational efficiency and surge in demand for improved surveillance drive the growth of the global micro drone market. North America accounted for the highest share in 2020, and is projected to continue its dominance by 2030. Production activities of micro drones stopped due to lockdown measures carried out across many countries during the Covid-19 pandemic.
Portland, OR, Oct. 27, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global micro drone market generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict drone regulations and lack of skilled & trained personnel hinder the market growth. On the other hand, improvement in drone technologies and surge in defense spending globally present new opportunities in the coming years.
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Manufacturing activities of micro-drones stopped due to lockdown measures implemented across many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented challenges in carrying out production with full capacity.
Manufacturers needed to hold expansion strategies and R&D investments as total revenue and overall operating performance declined.
The challenges were posed in the procurement of micro-drones for various applications including homeland security, military, and commercial during the Covid-19 pandemic, and are expected to reduce in a few years.
The report offers detailed segmentation of the global micro drone market based on type, application, weight, and region.
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Based on type, the rotary wing segment held the highest share in 2020, accounting for more than half of the total share, and is expected to maintain its lead position during the forecast period. Moreover, this segment is expected to manifest the largest CAGR of 18.0% from 2021 to 2030. The research also analyzes the segments including fixed-wing and hybrid & traditional.
Based on application, the civil and commercial segment accounted for the highest share in 2020, holding more than one-fourth of the global micro drone market, and is projected to maintain its leadership status throughout the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 19.1% from 2021 to 2030. The research also analyzes the segments including military, homeland security, consumer, and others.
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Based on region, North America contributed to the largest share in 2020, holding more than one-third of the total share, and is estimated to continue its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to portray the fastest CAGR of 19.9% during the forecast period.
Leading players of the global micro drone market analyzed in the research include 3DR, Autel Robotics, AeroVironment Inc., Elbit Systems Ltd., DJI, Israel Aerospace Industries Ltd., Hubsan, senseFly, Kespry Inc., and Skydio, Inc.
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