According to IMARC Group’s latest report, titled “Drones Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global drones market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 17% during 2021-2026.
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Drones, or unmanned aerial vehicles (UAV), are unpiloted aircraft generally used for defense and military purposes. They can be flown for longer distances, rely on sensors and LIDAR detectors, without the need for a pilot to navigate it. Nowadays, drones are also used for recreational purposes and in the business community due to the enhanced safety and efficiency levels. They find application in monitoring, surveying, mapping, precision agriculture, aerial remote sensing, and product delivery.
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Market Trends:
The global drone market is primarily driven by rising demand for small military drones among the defense forces, coupled with the increasing use of drones in commercial applications. They are also utilized in agricultural activities, including livestock monitoring, irrigation management, and fertilization. Furthermore, extensive global investments and regulatory changes are increasing the revenue and profit opportunities for drone manufacturers, solution providers, operators, and distributors, which is positively influencing the growth of the market.
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List of Key Companies Covered in this Market Report:
The report has segmented the market on the basis of type, component, payload, point of sale, end-use industry and geography.
Market Breakup by Type:
Market Breakup by Component:
Market Breakup by Payload:
Market Breakup by Point of Sale:
Market Breakup by End-Use Industry:
Breakup by Geography:
Key highlights of the report:
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