CHICAGO, September 24, 2018 /PRNewswire/ --
According to the new market research "Small Drones Market by Type (Fixed-Wing, Rotary-Wing, Hybrid/Transitional), Application, MTOG (<5 kg, 5-25 kg, 25-150 kg), Payload (Camera, CBRN Sensors, Electronic Intelligence Payload, Radar), Power Source, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is estimated at USD 13.40 billion in 2018 and is projected to reach USD 40.31 billion by 2025, at a CAGR of 17.04% from 2018 to 2025.
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The increasing use of small drones in civil & commercial and military applications is one of the most significant factors expected to drive the growth of the small drones market. Improvements in flight control systems, owing to the development of sense-and-avoid technology are expected to fuel the growth of the small drones market.
The civil & commercial application segment of the small drones market is projected to grow at the highest CAGR during the forecast period.
Based on application, the civil & commercial application segment of the small drones market is projected to grow at the highest CAGR from 2018 to 2025. This growth can be attributed to the increased adoption of small drones for various civil & commercial applications such as inspection, monitoring, surveying, mapping, and remote sensing. Properties of small drones such as portability, high efficiency, and low operating costs have fueled the use of small drones in civil & commercial applications.
Based on type, the fixed-wing segment is projected to grow at the highest CAGR during the forecast period.
Based on type, the fixed-wing segment of the small drones market is projected to grow at the highest rate during the forecast period. Fixed-wing small drones offer high endurance and can cover a large area in a short time and therefore are used in various military and commercial applications. Additionally, the relaxation of restrictions imposed on the commercial use of drones is expected to drive the growth of the market for fixed-wing small drones.
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Based on payload, the electronic intelligence payloads segment is estimated to lead the small drones market in 2018.
Based on payload, the electronic intelligence payloads segment is estimated to lead the small drones market in 2018. The growth of this segment can be attributed to the increasing use of small drones equipped with advanced payloads used for military applications such as ISR, monitoring, and gathering electronic intelligence.
Asia Pacific is projected to be the fastest-growing market for small drones during the forecast period.
The small drones market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the high demand for small drones from the commercial and military sectors of countries such as China, India, and Japan. The military budgets of the above-mentioned countries are increasing on a yearly basis, which has led to the adoption of small military drones, as they assist in the collection of battlefield data.
Key players operating in the small drones market include Northrop Grumman (US), Boeing (US), DJI (China), Parrot (France), Lockheed Martin (US), Textron (US), AeroVironment (US), and Israel Aerospace Industries (Israel).
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