"Drone technology refers to flying machines that operate without a pilot on board. They can take pictures, deliver packages, monitor crops, and perform various tasks. Drones are useful for saving time and reaching difficult places, but there are rules to ensure they are used safely."
BOSTON, Nov. 1, 2024 /PRNewswire/ -- "According to the latest study from BCC Research, Drone Technology and Global Markets [https://www.bccresearch.com/market-research/instrumentation-and-sensors/drone-technology-global-markets.html?utm_source=PRIAS104E&utm_medium=referral&utm_campaign=prnewswire] was valued at $30.4 billion in 2023. The market is projected to grow from $33.9 billion in 2024 to $61.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 12.6% from 2024 through 2029."
This report looks at drone technology, covering the three types of drones: fixed-wing, rotary-blade, and hybrid models. It categorizes drones into unmanned aerial vehicles (UAVs), unmanned underwater vehicles (UUVs), unmanned ground vehicles (UGVs) and unmanned surface vehicles (USVs).
It also explores how drones are used in defense, business, government, and personal settings. The report analyzes the market by region, including North America, Europe, Asia-Pacific, Latin America and the Middle East.
Additionally, it examines the drivers of the drone market, focusing on current trends. Finally, the report profiles leading companies in the drone industry. The study uses 2023 as the base year for data and includes forecasts for 2024 to 2029.
Interesting and surprising facts:
Three Ways Drones Are Changing the World
1. Drone Racing: The New Thrill SportDrone racing is becoming increasingly
popular. Pilots wear special goggles to fly drones at speeds over 100 mph
through obstacle courses, usually indoors. This thrilling sport has
gained global attention, with professional leagues and players vying for
big cash prizes.
2. Uncovering Ancient Secrets with DronesArchaeologists are using drones to
find and explore ancient sites. Equipped with special sensors, drones can
detect hidden structures beneath vegetation or soil. This technology has
led to discoveries of unknown historical sites and revolutionized
archaeological surveys.
3. Drone Teams: Working TogetherTechnology inspired by nature enables drones
to work together, like birds or insects, to complete tasks. These "drone
swarms" can help with search-and-rescue missions, and can also monitor
the environment. This innovative technology is changing the way drones
are used.
To further explore the subject matter and to attain a deeper understanding of the market's dynamics and growth opportunities, click here [https://www.bccresearch.com/market-research/instrumentation-and-sensors/drone-technology-global-markets.html?utm_source=PRIAS104E&utm_medium=referral&utm_campaign=prnewswire].
Factors contributing to the growth of the drone market include:
1. Technological advances in drone technology.: Technological advances are
making drones faster, smarter and more capable. These improvements
include better cameras for clearer images, advanced sensors for detecting
obstacles, longer battery life for extended flying time, and software
that allows drones to fly autonomously or follow specific paths. These
advancements extend the ways in which drones can be used in delivery,
agriculture and surveillance.
2. Increasing cost efficiency.: Using drones can reduce the amount of labor
and time needed for tasks like surveying land or delivering packages.
This helps businesses spend less while improving their services.
3. Proliferation of 5G technology and cloud computing.: Faster internet (5G)
and online storage and services (cloud computing) are becoming widely
available. This allows enables drones, to connect and share data quickly
and easily. It improves communication, enhances real-time processing, and
enables more advanced applications for technology in everyday life.
4. Enhanced public perception and awareness.: More people are becoming
informed about drones and their uses. As people learn about the benefits
of drones including delivering packages, monitoring crops, and helping in
emergencies--they are more likely to view them positively and accept
their use in everyday life.
5. Strategic investments and partnerships.: Companies are increasingly
working together and investing money to achieve shared goals. For
example, a tech company might partner with a drone manufacturer to
develop new technology. These collaborations help businesses grow,
innovate, and access new markets more effectively.
Request a Sample Copy of the Drone Technology and Global Markets [https://www.bccresearch.com/market-research/instrumentation-and-sensors/drone-technology-global-markets.html?ro=yes&utm_source=PRIAS104E&utm_medium=referral&utm_campaign=prnewswire]
Report Synopsis
Report Metrics Details Base year considered 2023 Forecast period 2024-2029 Base year market size $30.4 Billion Market size forecast $61.2 Billion Growth rate CAGR of 12.6% from 2024 to 2029 Segments covered By offering, product segment, Drone Type, Application, and Region Regions covered North America, Europe, Asia-Pacific, and Rest of the World, which consists of the Middle East and Africa, and Latin America Countries covered U.S., Canada, Germany, France, Italy, U.K., China, Taiwan, South Korea, and India Key market drivers -- Technological advances in drone technology -- Increasing cost efficiency -- Proliferation of 5G technology and cloud computing -- Enhanced public perception and awareness -- Strategic investments and partnerships
This report answers the following questions:
1. What is the projected market size and growth rate of the market?The
market is projected to reach $61.2 billion by 2029, growing at a CAGR of
12.6%.
2. What segments are covered in the market?The drone market is segmented
by:Offering.Product.Type of drone.Application.Region.
3. Which type of drone will dominate the market by the end of 2029?Unmanned
aerial vehicles (UAVs) are expected to dominate the market by the end of
2029.
Some of the Key Market Players Are:
-- AEROVIRONMENT INC.
-- AIRBUS
-- BOEING
-- DELAIR
-- DJI
-- DRAGANFLY INNOVATIONS INC.
-- DRONE DESTINATION LTD.
-- DRONE HARMONY AG
-- DRONEVOLT
-- EHANG
-- FREEFLY SYSTEMS
-- HUBSAN
-- IDEAFORGE TECHNOLOGY LTD.
-- INSITU
-- INSIDEFPV VENTURES PVT. LTD.
-- KESPRY
-- MMC
-- PARROT DRONE SAS
-- POWERVISION INC.
-- SKYDIO INC.
-- YUNEEC
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Robotics: Technologies and Global Markets [https://www.bccresearch.com/market-research/engineering/robotics.html?utm_source=PRIAS104E&utm_medium=referral&utm_campaign=prnewswire]: This study of robotic systems explores how they are used around the world in manufacturing, healthcare and entertainment. The market looks at trends, demand, and how much money is being spent on robots, highlighting their growing importance in everyday life.
Delivery Drones: Global Markets and Technologies [https://www.bccresearch.com/market-research/instrumentation-and-sensors/drones-delivery-technologies-market.html?utm_source=PRIAS104E&utm_medium=referral&utm_campaign=prnewswire]: This report focuses on drones designed for delivering packages. It examines how these drones work, the technology behind them, and their increasing use in many countries. The market analysis shows how much people and businesses are investing in delivery drones and explores their potential to change how we receive goods in the future.
Directly Purchase a copy of the report [https://www.bccresearch.com/market-research/instrumentation-and-sensors/drone-technology-global-markets.html?utm_source=PRIAS104E&utm_medium=referral&utm_campaign=prnewswire] from BCC Research.
For further information on the subject matter or to purchase the report, please contact info@bccresearch.com [mailto:info@bccresearch.com].
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