Multi-Rotor Drone Market to Reach USD 21.84 Billion By 2032 | Emergen Research
The higher emphasis on the incorporation of the multi-rotor VTOL drones in military bodies and extensive rise in investment in the defense & homeland security & intelligence bodies are the major factors influencing the market growth
Vancouver, Nov. 13, 2023 (GLOBE NEWSWIRE) — The Global Multi-Rotor Drone Market is forecasted to be worth USD 21.84 billion by 2032, according to a current analysis by Emergen Research. The market is remarkably being driven by the factors such as increasing adoption of the drones or UAVs, capable of carrying higher capacity of payloads and increasing usage of multi-rotor drones in monitoring, spying, command controlling & aerial video filming. A higher investment in the military bodies & defense intelligence sectors, and technological development in the camera & battery systems have helped in the market growth considerably.
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Additionally, growing incidences in the cross-border conflicts, asymmetry in the warfare, higher inclination for the forthcoming combat preparation, and broadening the number of the existing weaponry technology & updating them into the futuristic ones are some of the subordinate reasons behind the tremendous growth of the market. The Multi-Rotor Drones are expected to create a huge enforcement into the market as more and more countries are deliberately adopting the UAV or drone technologies to gain information about the crucial places where human surveillance is difficult to reach
The global market landscape of Multi-Rotor Drone is expected to remain in a very competitive and highly consolidated landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.
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Scope of Research
|Market size value in 2019||USD 1.86 Billion|
|CAGR (2023 – 2032)||20.8%|
|Revenue forecast in 2032||USD 21.84 Billion|
|Base year for estimation||2019|
|Historical data||2016 – 2018|
|Forecast period||2023 – 2032|
|Quantitative units||Revenue in USD Billion, Volume in Thousand Units, and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, End Users, Materials Used, Technology, and Region|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; MEA|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Israel|
|Key companies profiled||Parrot SA, AeroVironment, Inc., Mota Group, Inc., Skyrocket Toys LLC, Guangdong Cheerson Hobby Technology Co., Ltd, Hubsan Technology Company Ltd., Prox Dynamics, Microdrones Aerix Drone, and Acumen Robot Intelligence (ARI)|
|Customization scope||10 hrs of free customization and expert consultation|
Major Companies and Competitive Landscape
The market for Multi-Rotor Drone Market is mostly on the fragmented side, with a number of conglomerates as well as medium-sized & start-up companies, which account for a major global share of the market. The crucial players involved in the Multi-Rotor Drone Market are desegregated across the value chain. The key companies of the market are well-equipped with large production facilities and are also engaged in various research & development activities. Some of the prominent players in the market include:
- AeroVironment, Inc.
- Mota Group, Inc.
- Skyrocket Toys LLC
- Guangdong Cheerson Hobby Technology Co., Ltd
- Hubsan Technology Company Ltd.
- Prox Dynamics
- Aerix Drone
- Acumen Robot Intelligence (ARI)
- In December 2018, Microdrones, a German company, announced a merger with Schübeler Technologies. The merger helped Microdrones to offer many of new aviation technology and the capabilities for customers in the form of unmanned vehicles.
- In December 2019, Drone Aviation Holding Corp. revealed its merger with ComSovereign Corp, a US-based consortium of the 5G telecommunications radio, power systems, and silicon photonics, designed for the next generation of global networks.
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Further key findings from the report suggest
- The military sub-segment exhibits a higher count of usage and investment in the ongoing research & development of Multi-Rotor Drone and its peripherals. The growing interest in UAV information carriers amongst the defense bodies sent are broadening the market outreach. The Military sub-segment in the application segment had 78.6% market share in the year 2019.
- North America owing to its leading investment in the defense & homeland security budgets, especially in the United States, and higher development in the information technology & microelectronics industry is expected to fuel regional market growth substantially.
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Emergen Research has segmented into the global Multi-Rotor Drone Market on the basis of Payload, End-Users, Price Range, and Region:
- Payload Outlook (Revenue: USD Billion; Volume: Thousand Units; 2023 – 2032)
- Control Systems
- Tracking Systems
- End-Users Outlook (Revenue: USD Billion; Volume: Thousand Units; 2023 – 2032)
- Price Range Outlook (Revenue: USD Billion; Volume: Thousand Units; 2023 – 2032)
- Regional Outlook (Revenue: USD Billion; Volume: Thousand Units; 2023 – 2032)
- North America
- Asia Pacific
- South Korea
- North Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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