Asian Surveying & Mapping
Breaking News
Australia’s Gilmour Space Technologies ready to launch maiden Eris Test flight the nation’s first orbital launch in over 50 years
Gilmour Space Technologies is the leading launch services company...
Korea’s space agency seeks revision of plan to modify next-gen rockets into reusable system
South Korea's aerospace agency said on Thursday that it...
UAE Space Agency Signs Agreement With Technology Innovation Institute to Execute the Emirates Mission to the Asteroid Belt’s Lander Project
In the presence of His Highness Sheikh Hamdan bin...
Private Japanese lunar lander enters orbit around moon ahead of a June touchdown
A private lunar lander from Japan is now circling the moon, with...
Indian astronaut to travel soon to ISS as part of ISRO-NASA Mission
Prime Minister Narendra Modi said by 2040, an Indian’s...
China issues regulatory framework to support direct-to-device satellite services
HELSINKI — China has released comprehensive regulations for direct-to-device...
Astranis clinches $115 million Taiwan deal despite satellite setback
TAMPA, Fla. — Astranis has signed a $115 million...
UAE and Egypt Strengthen Space Collaboration with New MoU
In a milestone development for Arab space collaboration, the...
Seoul launches 4th spy satellite to boost North Korea surveillance
South Korea’s military now operates an increasingly integrated cluster...
Indonesia seeks space defense cooperation with Japan’s military
Jakarta (ANTARA) - The Ministry of Defense of Indonesia...

September 6th, 2022
Drone Market Is Estimated To Be Valued At US$ 279 Bn By 2032, Identifies Fact.MR

According to Fact.MR’s latest analysis, the drone industry is predicted to develop at a CAGR of 25% between 2022 and 2032, anticipated to reach US$ 279 Bn. Drone technology aimed at supplying precision-based, guided weapons is causing important advancements in the defense sector, and is likely to be the backbone of global market growth.

From 2017 to 2021, the industry experienced an impressive incline at a CAGR of 23.5%. During the COVID-19 pandemic, prospects dimmed across certain sectors, including manufacturing and hospitality, while deployment for general surveillance purposes, especially to check whether individuals adhered to lockdown norms, increased dramatically.

The fatal mix of stealth capabilities and enhanced video imagery is providing developed-country militaries with drones capable of wreaking considerable harm on enemy territory. Emerging nations and war-torn areas, such as Syria, are innovating and employing cost-cutting techniques, such as the employment of cheap, commercial quadcopters outfitted with improvised and low-intensity explosives in their military operations.

Key Takeaways from the Market Study

  • By product, military drones to accumulate 55% market revenue in 2022
  • Construction industry to emerge as an opportunistic application sector, expanding at an 18% CAGR
  • U.S to account for nearly 2 out of 5 drone sales in 2022 and beyond
  • China to emerge as the most opportunistic market, capturing a revenue share of 45%
  • Global drone market is expected to be valued at US$ 30 Bn by the end of 2022

“Increasing global uncertainty resulting out of an international arms race is prompting nations to strengthen existing military capabilities to ensure national security, providing immense scope for the drones market”, says a Fact.MR analyst

Competitive Landscape

The drone business is expanding rapidly, with industry leaders like as DJI and Parrot pursuing autonomy in all of their drone features and functions. Frontrunners in the drone sector appear to be focusing on R&D and collaborative collaborations.

  • DJI Technology Co. Ltd, a Chinese business, continues to dominate the drone industry landscape across all drone product categories, including software, drone aircraft, and payload. Its brisk growth can be ascribed to its unique product development and enterprise channel relationships.
  • For example, in 2018, the corporation produced two enterprise drone products aimed at the industrial space, known as the Phantom 4 RTK and the Mavic 2 Enterprise

These insights are based on a report on Drone Market by Fact.MR.

E-mail: [email protected]

Web:    www.factmr.com