Drone Sensor Market to Reach US$ 4,032.8 mn by 2031, driven by the growing advancement and rising adoption of drone technology will foster the market growth: Global Insight Services
New York, November 2022: According to a new research study by Global Insight Services (GIS), the global Drone Sensor Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ $ 4,032.8 mn by 2031.
The drone is a flying robot or aircraft with onboard sensors, a global positioning system, and software that allows it to be remotely controlled or fly on its own. Unmanned Aerial Vehicles (UAVs) and Unmanned Aircraft Systems are other names for drones (UAS). Previously, Unnamed Aerial Vehicles (UAVs) were only employed for military-related tasks like training for air defense target engagements, information gathering, and, more controversially, as a platform for carrying weapons.
Drone Sensor Market: Key Trends and Drivers
The rising adoption rate of several unmanned flight systems i.e. drones, across the world intended for a wide range of commercial applications, is one of the most significant drivers for the development of the global drone sensor market. The increasing demand for commercial applications, such as shipping, precision agriculture, wildlife monitoring, aerial photography as well as videography, and logistics and delivery, is also motivating the sales within the global drone sensor market. Additionally, the constant technological developments that make the components, hardware, and technologies used in drones are also paving the way for the next generation of ultimate drones. The growing demand for effective, high strength, and advanced drones from industrial sector is also pivotal for the further development of the global drone sensor market in coming few years.
Drone Sensor Market: Restraints & Challenges
Security concerns about the usage of drones may limit the commercial drone market’s expansion. Safety is a fundamental element to prioritize when operating drone technology. UAVs outfitted with high-quality sensors recognize possible collisions and safely engineer their way around them, making them a significant trait. These drone capacities must resemble those of manned aircraft navigators. It is commendable to hire professional drone service providers who can operate an aerial drone without crashing it. Drones operated in heavily-populated regions have an amplified risk of ground impact or damage, mainly due to system malfunction or hacking. Drones also pose a significant danger to aircraft as they can be sucked into the turbines of aircraft if there is a proximity between them, causing significant damage to the propulsion systems. The drones could be hijacked by tampering with the frequency-hopping sensors used in devices that use radio communications. The safety and privacy concerns related to drones are
The inertial sensor segment is likely to hold a dominant Drone Sensor Market share and grow at a substantial CAGR during the forecast period.
Based on the sensor type, the Drone Sensor industry is divided into Inertial Sensor, Image Sensor, Speed & Distance Sensor, Position Sensor, Pressure Sensor, Light Sensor, Current Sensor, and Others. Of these, the inertial sensor segment registered significant revenue in 2021 attributed to the Increasing advancement and availability of different types of inertial sensor including accelerometers, gyroscope, magnetometers, and tilt will foster the industry growth in the upcoming year. Inertial sensors are tiny chips that can be integrated into many consumer devices. This reduction in size and weight has been exploited to the full in the aeronautical industry, where sensor manufacturers produce units that can be integrated in UAV flight control systems. This sensor are used for a variety of applications in UAVs and drones. They allow the aircraft to maintain stability and control while experiencing high winds or performing steep turning manoeuvres.
The hybrid segment is anticipated to hold a majority of the Drone Sensor Market size throughout the study period.
By platform type, the industry is divided into VTOL, Fixed-Wing, and Hybrid. The hybrid segment of the Drone Sensor market is expected to grow at a rapid pace through 2030. This is attributed to the hybrid commercial drones use the advantages of batteries and fuel combined to maximize their power and efficiency. Additionally, these drones fly for a longer duration with higher payloads even in adverse weather conditions. Hybrid platform can carry a variety of payloads that make them suitable for a wide range of long-endurance and heavy-lift applications, such as mapping and surveying, military intelligence, surveillance and reconnaissance (ISR), cargo delivery and precision agriculture. Since the hybrid drone is capable of almost all-terrain movements like flying, perching, driving, climbing, and vertical take-off and landing, its developers have tuned it to perform professional missions for search and rescue, patrolling, monitoring, and industrial intralogistics in various, difficult conditions.
The navigation segment is anticipated to hold a majority of the Drone Sensor Market size throughout the study period.
Based on indication, the Drone Sensor industry is categorized into Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Air Pressure Measurement, and Others. The navigation segment accounted for lucrative market share in 2021. This is owing to the the navigation segment was valued at USD 191.8 million in 2021 and it is anticipated to grow further to USD 1,241.4 million by 2031, at a CAGR of 20.0% during the forecast period.
Electronic compasses in drones give inertial navigation and guidance systems crucial directional data. Drone applications benefit from the improved accuracy and response time features of anisotropic magneto resistive (AMR) permalloy technology sensors, which use substantially less power than competing technologies. Manufacturers of drones can get high-quality data sensing from turnkey solutions in a highly durable and small design. Different companies are launching navigation sensors to expand their product portfolio. For instance, in March 2022, Honeywell Unveils MV60, A new precision navigation sensor for aerospace and beyond. Aerospace, industrial, and marine industries can benefit from a rugged, low-cost navigation solution that does not compromise performance.
The construction segment is anticipated to hold a majority of the Drone Sensor Market size throughout the study period.
Based on the end-user, the industry is categorized into Construction, Media & Entertainment, Precision Agriculture, Personal, Security & Surveillance, Defense, Law Enforcement, Transportation, and Others. The construction segment was valued at USD XX million in 2021 and it is anticipated to grow further till USD XX million by 2031 at a CAGR of XX% during the forecast period. The drone helps in collecting aerial footage of the construction site before, during, and after the project as per requirement and easing tasks. The advantage of using drones over the manual construction method is the fact that is saves time, and effort and reduces the risk involved. Drones are a viable tool that offers benefits ranging from on-site safety to remote monitoring. It provides construction contractors with broad, accurate and detailed aerial information.
Numerous expedited building projects have already received funding. However, other regions with lesser budgets and decreased tax revenues have stopped expenditure and put a stop to construction projects. The long-term challenges for the global construction business will come from poor GDP growth, rising unemployment, and stagnant commercial projects. Construction enterprises experiencing a financial problem would not be able to make an early investment in a drone programme, even if drone operations might ultimately save resources and save money.
The North America region is estimated to exhibit the highest growth rate during the Drone Sensor Market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America Drone Sensor market is poised to witness significant growth rate through 2030. Some of the key factors contributing to the leading position of North America region in the global drone sensor market include rising adoption and skyrocketing demand for efficient drones from the regional military and defence sectors, high rate of new technology integration in commercial products in Canada as well as the United States, and high usage of smart agricultural equipment, which includes precision farming drones. Furthermore, the equipment is being used in multiple applications by the United States’ booming ICT industry. For example, Amazon stated in June 2019 that the company is interested in using drones to deliver packages. The Federal Aviation Administration has also given the company approval for its “prime air delivery” fleet. Due to the significant presence of drone sensor vendors in this region and favorable government regulations, the Asia Pacific drone sensors market growth is expected to accelerate at a substantial CAGR during the forecast period.
.Recent Developments in the Drone Sensor Market:
· In July 2022, Syngenta launched biodiversity sensor project with IIT Ropar
· In June 2022, Collins Aerospace launched the first M-code-compatible navigation system for military ground vehicles available in Europe.
· In March 2022, Honeywell launched Unveils MV60, A new precision navigation sensor for aerospace and beyond.
· In November 2021, AgEagle Announces Launch of MicaSense’s Altum-PT An Optimized 3-in-1 Sensor Integrating Ultra-High Resolution, Panchromatic Imaging and Thermal Imaging to Provide Unlimited Analytical Capabilities at Leaf-Level Resolution.
· In November 2020, the US Department of Defense awarded General Atomic a USD 93.3 million contract to develop drone sensors for the MQ-9 Reaper. Both sides have agreed to work together.
Drone Sensor Market Report Coverage
· The report offers a comprehensive quantitative as well as qualitative analysis of the current global Drone Sensor Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
· A thorough analysis of market trends and restraints is provided.
· Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
· The forecasts in this report are made by examining the recent trends along with future Drone Sensor Market potential from 2021 to 2031 in terms of revenue.
· Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Drone Sensor Market are also analyzed.
· Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.
Global Drone Sensor Market Segmentation
By Sensor Type
· Inertial Sensor
· Image Sensor
· Speed & Distance Sensor
· Position Sensor
· Pressure Sensor
· Light Sensor
· Current Sensor
· Others
By Platform Type
· VTOL
· Fixed-Wing
· Hybrid
By Application
· Navigation
· Collision Detection & Avoidance
· Data Acquisition
· Motion Detection
· Air Pressure Measurement
· Others
By End-user
· Construction
· Media & Entertainment
· Precision Agriculture
· Personal
· Security & Surveillance
· Defense
· Law Enforcement
· Transportation
· Others
By Region
· North America
o The U.S.
o Canada
o Mexico
· Europe
o UK
o Germany
o France
o Spain
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
· Rest of World
o Latin America
o Middle East
o Africa
Key Players
• Trimble
• Bosch Sensortec
• TDK InvenSense
• Sparton NavEx
• Raytheon
• AMS AG
• Infineon Technologies
• PrescisionHawk
• Sentera, Inc.
• SlantRange
