According to Fact.most MR’s recent analysis, the drone industry is expected to grow at a CAGR of 25% between 2022 and 2032, reaching US$ 279 billion. Drone technology aimed at supplying precision-based, guided weapons is causing significant advancements in the defence sector and is expected to be the driving force behind global market growth.
From 2017 to 2021, the industry experienced an impressive 23.5% CAGR. During the COVID-19 pandemic, prospects for certain industries, such as manufacturing and hospitality, dimmed, while deployment for general surveillance purposes, particularly to ensure that individuals adhered to lockdown norms, increased dramatically.
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Key Segments Covered in the Drone Market Report
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Product
- Commercial Drone
- Military Drone
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Payload
- Drones Upto 25 Kg
- Drones from 25 Kg – 150 Kg
- Drones from 150 Kg – 600 Kg
- Drones Above 600 Kg
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Application
- Aerial Surveying & Photography Drones
- Agriculture Drones
- Construction Drones
- Film and Television Drones
- Border Security Drones
- Combat Operations Drones
- Search and Rescue Drones
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Key Takeaways from the Market Study
- By product, military drones to accumulate 55% market revenue in 2022
- Construction industry to emerge as an opportunistic application sector, expanding at an 18% CAGR
- U.S to account for nearly 2 out of 5 drone sales in 2022 and beyond
- China to emerge as the most opportunistic market, capturing a revenue share of 45%
- Global drone market is expected to be valued at US$ 30 Bn by the end of 2022
“Increasing global uncertainty resulting out of an international arms race is prompting nations to strengthen existing military capabilities to ensure national security, providing immense scope for the drones market”, says a Fact.MR analyst
Following Questions Answers Covered in the Report are:
- How will the global Drone Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Drone Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Drone Market?
- How will these strategies influence the market growth and competition?
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