Small Drones Market worth 10.04 Billion USD by 2020

The report Small Drones Market by Application (Defense, Commercial), Size (Micro, Mini, Nano), Payload (Sensor, Telemetry System, Camera, Videoscreen, NBC Detection, SAR, Others), Type, Propulsion Systems, & Region – Global Forecasts to 2020″.

The small drones market is estimated to reach USD 10.04 Billion by 2020, at a CAGR of 11.6% from 2015 to 2020. This growth can be attributed to the rising need for efficient border surveillance and general ISR functions, along with for commercial applications such as agriculture, logistics operations, monitoring and surveying globally.

 “Commercial segment to dominate the small drones market, among applications”

The commercial segment is projected to grow at a comparatively higher CAGR during the forecast period, primarily owing to huge investments made by major players in the development of small drones for applications in agriculture, transportation, medical, and so on. In Asia-Pacific, the agriculture sector dominates the demand for small drones in the commercial segment, followed by transportation and medical sectors.

“The sensors payload segment to grow the highest during the forecast period”

The small drones market has been segmented and analyzed in terms of payloads, namely, sensors, cameras, telemetry systems, synthetic aperture radar, videoscreen, and others. The overall market is dominated by the sensors segment and is projected to grow at the highest CAGR during the forecast period, primarily driven by the advanced and high capacity sensors to provide high quality data.

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The increasing demand for commercial application is expected to drive the growth of the small drones market during the forecast period of 2015 to 2020. The advancements in payloads technology over the past decade have led to an increased use of small drones for a variety of operations and tasks, in the defense as well as commercial sector. The rising need for advanced, efficient, and reliable small drones, and the trend of military modernization across these nations are expected to drive the overall market growth

“Asia-Pacific & the Middle East to be the opportunistic markets for small drones business”

The global small drones market is dominated by North America, as of 2015, owing to the technological advancements and the rising incidences of terrorism in the region. However, the Middle East and Asia-Pacific are expected to drive the growth of the global small drones market in the coming years, with the Asia-Pacific market projected to grow at the highest CAGR during the forecast period, 2015 to 2020. This rapid growth of the Asia-Pacific market can be attributed to the innovative technology solutions for drones and aiming to manufacture them at the lowest possible cost. The Asia-Pacific market is driven mainly by the increasing investments by China and India for the development of multifunctional small drones in defense as well as commercial applications.

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The market size estimations for various segments and subsegments of this market were arrived at through extensive secondary research, corroboration with primaries, and further market triangulation with the help of statistical techniques using econometric tools.

All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

The growth of the small drones market could, however, be affected by certain major restraints in the coming years. These factors include strict airspace regulations across major countries of the world, especially the U.S., where FAA pioneered in setting regulations for commercial use of drones in the region.

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The major players in this market have been identified as Lockheed Martin (U.S.), Elbit Systems (Israel), AeroVironment (U.S.), and Israel Aerospace Industries (Israel), among others.

The report segments and analyzes the small drones market on the basis of size (mini, micro, nano), type (fixed-wing, rotary-wing, others), propulsion systems (lithium-ion, hydrogen cell, solar, hybrid, fuel cell, others), payload (sensors, camera, telemetry systems, SAR, NBC, videoscreen, others), application (defense and commercial), and maps these segments and subsegments across the major regions of the world namely, North America, Europe, Asia-Pacific, the Middle East, Latin America, and Africa.

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