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Small Drone Market Size

Report ID: GMI8134
Published Date: Feb 2024
Report Format: PDF

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Small Drone Market Size

Small Drone Market was valued at USD 11 billion in 2023 and is anticipated to register a CAGR of over 6% between 2024 and 2032. The industry is propelled by continuous technological advancements, decreasing costs, and expanding commercial applications. The rising demand for aerial imaging, supportive regulatory frameworks, integration of AI & automation, and innovative use cases, such as drone-based delivery services, contribute to its sustained growth and market expansion.

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For instance, in April 2023, DJI introduced Inspire 3, targeting the high-end film and television production market. Equipped with the X9-8K Air, its lightest full-frame three-axis gimbal camera, the drone captures footage at an impressive 8K/25fps CinemaDNG and 8K/75fps Apple ProRes RAW. Furthermore, with DJI's cutting-edge picture processing tech, CineCore 3.0, it boasts up to 28 minutes of flight time on a single battery.

The small drone market growth is fueled by advancements in miniaturization technology, enhancing drone capabilities while reducing production cost. Expanding commercial applications, particularly in agriculture, construction & infrastructure inspection, drive demand. Regulatory frameworks accommodating safe drone operations and the integration of AI for autonomous functionalities further stimulate market growth. Additionally, the increasing popularity of recreational drones and emerging use cases such as urban air mobility contribute to market expansion.

Small Drone Market Report Attributes
Report Attribute	Details
Base Year:	2023
Small Drone Market Size in 2023:	USD 11 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6%
2032 Value Projection:	USD 20.1 Billion
Historical Data for:	2018 - 2023
No. of Pages:	260
Tables, Charts & Figures:	320
Segments covered:	Wing, Power Source, Application, Mode of Operation
Growth Drivers:	Technological advancements in drone capabilities and sensors Increased demand for aerial imaging and mapping Expansion of commercial applications across industries Demand for drone-based delivery services
Pitfalls & Challenges:	Limited battery life and flight endurance Regulatory hurdles and airspace restrictions

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Challenges faced by the small drone industry include stringent regulatory constraints, especially airspace restrictions and privacy concerns. Limited battery life and weather dependencies hinder operational capabilities, while the risk of collisions and accidents poses safety issues. Additionally, intense competition often leads to price wars, impacting profitability. Overcoming these hurdles requires innovative solutions for regulatory compliance, technological advancements, and effective risk management strategies.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for small drone was valued at USD 11 billion in 2023 and is anticipated to register a CAGR of over 6% between 2024 and 2032, propelled by continuous technological advancements, decreasing costs, and expanding commercial applications.

The rotary wing segment held a major market share of around 50% in 2023 and is expected to record significant demand through 2032, owing to their maneuverability and stability.

North America small drone industry held a revenue share of over 32% in 2023 and is expected to grow significantly till 2032, driven by favorable regulatory frameworks and increased awareness of benefits of drone technology.

AeroVironment, Inc., Autel Robotics, BAE Systems Inc., DJI, Parrot Drone SAS, RTX Corporation, Skydio, Inc., Teledyne Technologies Incorporated., Thales Group, Yuneec are some of the major industry contenders.