Global Small UAV Market expected to record a CAGR of above 15% by 2025
As several countries seek to increase their military surveillance capabilities, large investments are being made in the development of small drones. The military around the world are obtaining nano drones for various military missions.Over the years, regulations have also changed for commercial use of drones in some countries, which has increased the purchase of drones by civilians.
The growing applications of small unmanned aerial vehicles in aerial photography, 3D mapping, surveying, and monitoring of oil and gas pipelines, among others, are driving the growth of the small UAV market.
The Swedish group Hexagon is now acquiring the flying robot manufacturer Kassel. Hexagon is a seasoned company with 14,000 employees in 40 countries and a world leader in integrated design, measurement and visualization technologies.
Market Drivers and Restraints:
One of the driving forces behind the global market for small UAVs is the growing demand for civil or commercial applications. Technological improvements and economic acquisitions and operations have led to the rapid growth of the market for small commercial drones. Commercial drones are used for surveying, aerial photography, oil and gas pipeline monitoring, 3D mapping, wind turbine blade inspection, and many other similar applications. In addition, the emerging markets of Asia-Pacific, South America and the Middle East have prioritized the increased use of drones mainly for military applications, which has contributed to the growth of the market.
Moreover, many small drones are used in military applications, including ISR and spy missions. So,the ongoing cuts to the defense budget in the United States and the economic downturn in Europe, are expected to affect the market for small military UAVs to some extent. In addition, most of the small drones in operation since 2015 are powered by batteries. One of the main challenges of these electric drones is their limited range and flight range.
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Report is segmented as:
- Fixed Wing
- Rotary Wing
- Civil & Commercial
- Homeland Security
- <5 Kilograms
- 5-25 Kilograms
- 25-150 Kilograms
- Small Drones Market Payload, By Type
- CBRN Sensors
- Electronic Intelligence Payloads
- UAV Radar, By Type
By Battery Type
- Solar Cells
- Hybrid Cells
- Fuel Cells
Based on the geography, the global small UAV market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America was the largest market for small drones in 2018 and likely to continue the same trend in future.
Key market players:
The major players of global small UAV market include AeroVironment, Inc. (US), Aibotix (Germany), BAE Systems (UK), DJI (China), Elbit Systems Ltd. (Israel), Israel Aerospace Industries Ltd. (Israel), Lockheed Martin (US), Prox Dynamics (Norway), SAAB (Sweden), and Thales Group (France).
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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