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Small Drone Market Trends

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

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Small Drone Market Trends

Market trends in the small drone industry include the rise of autonomous capabilities and AI integration for enhanced functionality. The increasing demand for specialized applications such as delivery services and urban air mobility is observed. Moreover, ongoing advancements in battery technology and materials contribute to longer flight times & improved performance. For instance, in October 2023, Amazon announced that it will launch drone deliveries in the UK in late 2024 as part of its Prime Air drone delivery system expansion. The firm is collaborating with authorities & communities to build the service and qualifying consumers will be able to opt for drone delivery of thousands of items including everyday basics, cosmetic products, and office supplies.

The small drone industry is witnessing a surge in demand for compact, lightweight drones tailored for specific industries such as agriculture, construction, and security. Integration of advanced sensors and data analytics software enables precise data collection & analysis for improved decision-making. Additionally, emerging trends include the development of swarming drones for coordinated operations and the utilization of drones for environmental monitoring & conservation efforts.

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.