Small Drone Market Size, Share & Industry Growth Analysis Report, 2027
Chicago, Aug. 10, 2023 (GLOBE NEWSWIRE) — The Small Drone Market by Platform (Civil & Commercial and Defense & Government), Type (Fixed Wing, Rotary Wing, and Hybrid), Application, Mode of Operation, Power Source (Fully Powered, Battery Powered) Global Growth Driver and Industry Forecast to 2027“, Small Unmanned Aerial Vehicles (SUAVs) or small drones are remotely piloted aerial vehicles that have significant roles in the defense as well as commercial sectors. They are used in commercial applications such as monitoring, surveying & mapping, aerial remote sensing, precision agriculture, and product delivery, as well as military applications such as military attacks and border surveillance.
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Small Drone Market Report Scope:
|Estimated Market Size||$3.8 Billion|
|Projected Market Size||$6.2 Billion by 2027|
|Market Size Available for Years||2019-2027|
|Base Year Considered||2021|
Key Market Players in Small Drone Market
- DJI (China) Parrot Drone SAS (France)
- Israel Aerospace Industry Ltd. (Israel)
- AeroVironment Inc. (US)
- Lockheed Martin Corporation (US)
“Browse in-depth TOC on ” Small Drone Market Trends, Growth Drivers“
409 – Tables
64 – Figures
334 – Pages
Driver: Supportive Government Regulations and Initiatives
Restraint: Lack of Air Traffic Management and Safety and Security Issues
Opportunity: High Investment by Governments Defense Forces, and Key Companies
Challenge: Lack of Sustainable Power Sources to Improve Endurance of Small Drones
The regulation is specifically made for drones used for commercial and government applications and weighing less than 55 pounds. The new regulation can smoothen drone registration and use and improve drone safety. Moreover, in December 2020, the US Department of Transportation issued drone rules to boost drone innovation and safety. According to the FAA, there are 1.7 million drone registrations and 203,000 FAA-certificated remote pilots in the US. In addition, India has taken some good initiatives to boost the drone industry in the country.
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Presently, commercial small drones are prohibited from flying in civil airspace except for certain companies who have received exemptions to conduct tests or demonstration flights. Another major hurdle restraining the market growth is lack of confidence in secure and effective amalgamation of small drones with existing air traffic systems. Small drones work under a closed loop with continuously evolving air traffic systems.
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Investments in the drone industry have been increasing drastically; during the COVID-19 pandemic (2020 and 2021), drone technology received increased attention due to its increased applications.
Drone services received significant investments, with passenger drones receiving the highest investments in 2021. Drone delivery-related start-ups such as Flirtey Inc. (US) and Matternet, Inc. (US) received investments from venture capital.
Energy consumption is one of the most important challenges facing small drones. Usually, small drones are battery-powered. Small drone batteries are used for small drone hovering, wireless communications, data processing, and image analysis.
One of the most significant challenges faced by manufacturers of small drones is their inability to test energy limits, both in terms of endurance as well as the ability to deliver the required amount of energy to different payloads, such as radar and laser among others. In recent years, extensive research has been undertaken on the development of multi-day plus endurance drones. However, such efforts have failed due to the lack of sustainable power sources.
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