Small Drones Market Expected to Reach $24.29 Billion by 2030-Allied Market Research

According to a recent report published by Allied Market Research, titled, “Small Drones Market by Size, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global small drones market was valued at $7.44 billion in 2020, and is projected to reach $24.29 billion by 2030, registering a CAGR of 13.16%.

North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global small drones market share in North America in 2020, owing to surge in R&D activities; technological developments by key players; and rapid adoption of innovative technologies in making reliable, precise, & efficient small drones. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of small drones across several Asian nations, for instance, China, India, Japan, and South Korea.

By size, the small drones market is segregated into nano drones and micro drones. The micro drones segment accounted for the highest revenue in 2020, owing to high capabilities of small drones that are being deployed for numerous commercial and defense applications throughout the world.

On the basis of type, the market is segmented into fixed wing and rotary wing. The rotary wing segment garnered the highest revenue in 2020, owing to high demand for rotary wing drones across numerous industry applications worldwide.

Depending on application, the small drones market is fragmented into commercial, defense, and recreational. The recreational segment was the highest revenue contributor in 2020, owing to high demand for recreational small drones, which are used by thousands of customers throughout the world.

COVID-19 Impact Analysis

• The COVID-19 impact on the small drones market is unpredictable, and is expected to remain in force for a few years.
• The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import–export of raw material items for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for manufacturing small drones.
• Moreover, nationwide lockdown forced drone manufacturing facilities to partially or completely shut their operations.
• Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of advanced small drone products globally.

Key Findings Of The Study

• By size, the nano drones segment is expected to register a significant growth during the forecast period.
• On the basis of type, the fixed wing segment is anticipated to exhibit significant growth in future.
• Depending on application, the commercial segment is anticipated to exhibit significant growth in future.
• Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

The key players that operate in the global small drones market include 3DR, AeroVironment Inc., Autel Robotics, BAE Systems Plc., DJI Technology, Hubsan, Elbit Systems Ltd., Parrot SA, SkyDio, and Teledyne FLIR LLC.