SMALL UAV MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The small UAV market is estimated to be valued at US$ 6.67 billion in 2024 and is expected to reach US$ 14.23 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.

Report Description:

The small UAV market has seen tremendous growth over the past few years owing to a rise in commercial applications of drones across various industries. Growing demand for lightweight drones equipped with advanced camera technologies for aerial photography and inspection purposes have driven. Additionally, the increasing acceptance of small drones for hobbyist and recreational activities has expanded the customer base. Advancements in battery technologies have enabled longer flight durations while miniaturization of components has reduced payload sizes, making drones more portable and user-friendly. However, stringent regulations regarding privacy and security issues need to be addressed to realize the full potential of this technology.

Market Dynamics:

The small UAV market is driven by factors such as the growing adoption of drones for commercial applications across industries like agriculture, insurance, energy, and infrastructure. Drones aid in monitoring crop health, assessing damage caused by natural disasters, and inspecting wind turbines and power lines. However, concerns around individual privacy and national security pose challenges to market growth. Various technologies, such as sense and avoid systems and geo-fencing, are being developed to make drones safer. Moreover, the rising demand for hobby drones from photography and videography enthusiasts presents an opportunity for manufacturers to expand their customer base. Continuous innovations leading to longer flight times, higher payload capabilities, and autonomous functionalities will further support the market growth during the forecast period.

Key features of the study:

• This report provides an in-depth analysis of the global small UAV market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global small UAV market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Northrop Grumman, Bayer Tech, DJI, Parrot Drone SAS, Israel Aerospace Industry Ltd., AeroVironment, Inc., Lockheed Martin Corporation, Teledyne FLIR LLC, BAE Systems, Elbit Systems Ltd., AIRBUS, Textron Inc., Autel Robotics, Yuneec, PowerVision Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global small UAV market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global small UAV market.

Detailed Segmentation:

• Type 
  • Fixed Wing
  • Rotary Wing
  • Hybrid
•  Take-off Weight
  • Less than 5kg
  • 5 to 25kg
  • Above 25 to 150kg
•  Application
  • Military
  • Commercial
  • Government & Law
• Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • Northrop Grumman
  • Bayer Tech
  • DJI
  • Parrot Drone SAS
  • Israel Aerospace Industry Ltd.
  • AeroVironment, Inc.
  • Lockheed Martin Corporation
  • Teledyne FLIR LLC
  • BAE Systems
  • Elbit Systems Ltd.
  • AIRBUS
  • Textron Inc.
  • Autel Robotics
  • Yuneec
  • PowerVision Inc.
  • Teledyne Technologies Incorporated
  • Guangzhou Walkera Technology Co Ltd
  • Yuneec
  • Turkish Aerospace Industries