[290 Pages Research] Micro drone market to reach $28.91 Bn by 2030; Rotary wing type to garner at 18.0% CAGR: Military application to rake 17.5% CAGR.
PORTLAND, ORAGON, UNITED STATES, November 18, 2021 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Micro Drone Market by Type, Application, and Weight: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global micro drone market was valued at $6.71 billion in 2020, and is projected to reach $28.91 billion by 2030, registering a CAGR of 9.7%.
North America dominates the market, in terms of revenue, followed by, Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global micro drone market share in North America in 2020, owing to increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making reliable, precise, and efficient micros drone technologies. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of micro drone across different industry verticals along with huge defense spending by big economies such as China, India, and Japan.
By type, the micro drone market is segregated into fixed-wing, rotary-wing, and hybrid or transitional. The rotary-wing segment accounted for the highest revenue in 2020, owing to features such as vertical take-off and landing and high maneuverability, which makes them suitable for deployment across different industrial verticals.
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On the basis of application, the market is classified into military, civil & commercial, homeland security, consumer, and others. The civil & commercial segment garnered the highest revenue in 2020, owing to the growing use of micro drones in the energy and agriculture sector.
Covid-19 Impact Analysis
The COVID-19 impact on the micro drone market is unpredictable and is expected to remain in force till the second quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import–export of raw materials items for most of 2020. This led to sudden fall in the availability of important raw materials for manufacturing micro drone equipment.
Moreover, nationwide lockdowns forced parts manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of modern micro drone systems globally.
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Key Findings Of The Study
By type, the rotary wing segment is expected to register a significant growth during the forecast period.
On the basis of application, the civil and commercial segment is anticipated to exhibit significant growth in future.
Depending on weight, the 1 kg to 2kg segment is projected to lead the global micro drone market.
Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
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The key players operating in the global micro drone market include 3DR, AeroVironment Inc., Autel Robotics, DJI, Elbit Systems Ltd., Hubsan, Israel Aerospace Industries Ltd., Kespry Inc., senseFly, and Skydio, Inc.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Source: EIN Presswire