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.
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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.
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.