Firefighting Drone Market Expected to Reach $2.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Firefighting Drone Market," The firefighting drone market was valued at $0.97 billion in 2021, and is estimated to reach $2.4 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031.

North America dominated the firefighting drone market in terms of growth, followed by North America, Europe, and LAMEA. The U.S. dominated the market share in 2021, and is expected to grow at a significant rate in the market during the forecast timeframe.

The firefighting drone market holds a great potential over the coming years backed by the increase in forest & industrial fire incidents taking place at regular time intervals has provided lucrative opportunities for growth of the market across the globe. Meanwhile, use of general aircrafts to extinguish wildfire is incurring notable operational and capital cost, allowing drones to rapidly supplement aircrafts. Moreover, rise in investments on building efficient and technically advanced drones for numerous applications are expected to provide lucrative opportunities for growth of the global market.

By type, the firefighting drone market is divided into fixed wing and multi-rotor. By size, the market is fragmented by micro drones and macro drones. By propulsion, the market can be categorized by electric motor, piston engine, and solar powered. By application, the market is categorized into scene monitoring, search and rescue, post fire or disaster assessment, and firefighting. Region-wise, the market is divided into North America, Europe, Asia-pacific, and LAMEA.

Factors such as use of advanced drone packs to extinguish wildfire and increase in fire-related incidents in the oil & gas industry supplements the growth of the firefighting drone market by increasing demand for efficient firefighting drones. Moreover, delayed delivery of aircraft and high capital requirement creates barrier for growth for firefighting aircrafts, enabling drones to quickly supplement firefighting aircrafts as these drones have low acquisition cost, low maintenance cost and are easy to operate. However, entering into contract & agreements for long-term business opportunities and incorporation of new technologies to put out fire is expected to create ample opportunities for the growth of the market during the forecast period.

Numerous companies have come up with aerial vehicles to fight with forest fires or building or industrial fires unlike all methods used to extinguish fire such as usage of fire trucks or human involved fire extinguishers. These drones carry chemical or fire retardants that at the press of a button are dropped at locations to extinguish wildfire. Moreover, these firefighting drones are designed in such a way that they can carry a huge amount of fire extinguishing components that can be spread over a huge area to stop fire from moving further. This increased maximum takeoff weight of drones creates wider scope for growth of the market across the globe.

Significant increase in fire related accidents, especially in the oil & gas industry increases demand for efficient safety measures along with the need for available firefighting drones to be present at nearby locations, which drives the market growth. Furthermore, stringent rules & regulations by governments along with technological advancements in firefighting technology also acts as driving factor for the market growth. In addition, numerous companies as well as industry owners deploy active firefighting systems such as drones, which proves to be efficient in firefighting scenarios and at the same time are easy to operate. Such developments & technological advancements create a positive impact on the growth of the market across the globe.

Manufacturing companies such as Boeing and Airbus receive bulk orders for different types of aircraft, which need to be completed within a shorter time span, owing to increase in demand for advanced aircraft. However, owing to dearth of skilled labor, deliveries take longer time. This delay causes a negative impact on operations of these companies, which eventually affects other related business. For instance, in December 2019, GoAir cancelled more than 40 flights in a week stating delayed delivery of new aircraft by Airbus. Similar delayed delivery of aircraft is expected to hamper the industry financially, owing to late payments, which, in turn, is expected to hamper the global firefighting aircraft market in the long run.

KEY FINDINGS OF THE STUDY

• By type, the multi-rotor segment leads the market during the forecast period.
• By size, the micro drones segment leads the market during the forecast period.
• By propulsion, the electric motor segment is expected to grow at lucrative growth rate during the forecast period (2022-2031).
• By application, the firefighting segment leads the market during the forecast period.
• North America is anticipated to exhibit the highest CAGR during the forecast period.

The key players that operate in the firefighting drone market are AeroVironment, Inc, BSS Holland B.V, DJI, Drone Amplified, Dronefly, DSLRPros, Draganfly inc., EHang, Guangzhou Walkera Technology CO.,LTD, Lockheed Martin Corporation, L3Harris Technologies Inc, SKYDIO, INC., Teledyne Technologies Incorporated, Vimal Fire, and Yuneec Holding Ltd. Company