The Small Drone Global Market Report 2023 by The Business Research Company, provides small drone market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Small Drone Global Market Report 2023, the market size is expected to grow from $4.57 billion in 2022 to $5.17 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global small drone market size is expected to reach $8.21 billion in 2027 at a CAGR of 12.2%.
The rising military and defense expenditure is expected to propel the growth of the small drone market going forward. Defense expenditure refers to all current and capital expenditure on the armed forces, including peacekeeping forces of defense ministries and other government agencies engaged in defense projects, and paramilitary forces when judged to be trained, equipped, and available for military operations. Small drones have improved military capabilities around the world in better reconnaissance, surveillance, and target acquisition, increased flexibility, reduced cost, improved situational awareness, crew safety, faster deployment, and others.
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The small drone market is segmented:
1) Small Drone Market By Type: Fixed Wing, Rotary Wing
2) Small Drone Market By Operation: Remotely Piloted, Optionally Piloted, Fully Autonomous
3) Small Drone Market By Power source: Fuel, Battery
4) Small Drone Market By Application: Military, Commercial
The adoption of light detection and ranging (LIDAR) are key trend gaining popularity in the small drone market. Light detection and ranging are remoting sensor that uses light in form of pulsed light to measure the distance to the Earth. Combined with information collected by the airborne system, these pulsed lights produce precise three-dimensional information about the earth's surface and the target object. A LiDAR drone is a drone that carries a LiDAR sensor for data collection. For instance, in August 2021, Redtail LiDAR Systems, a US-based company involved in microelectromechanical systems mirror-based LiDAR technology, unveiled the RTL-450 LiDAR sensor into the market. The RTL-450 incorporates a lightweight MEMS mirror and a precision navigation system to generate accurate data for the most demanding of aerial surveying missions. The three-dimensional point clouds and high-resolution created by the RTL-450 provide operators with an unsurpassed ability to conduct advanced analytics of manmade and geographic features on the earth's surface. The innovative LiDAR system, which weighs just over 4 pounds, is designed to operate independently of a drone platform, providing great flexibility for small drone integration.
The small drone market report table of contents includes:
1. Executive Summary
2. Small Drone Market Characteristics
3. Small Drone Market Trends And Strategies
4. Small Drone Market - Macro Economic Scenario
5. Small Drone Market Size And Growth
.....
26. Africa Small Drone Market
27. Small Drone Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Small Drone Market
29. Small Drone Market Future Outlook and Potential Analysis
30. Appendix
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