November 01, 2024
Boston: “According to the latest study from BCC Research, Drone Technology and Global Marketswas valued at $30.4 billion in 2023. Themarketis 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 Sport
2. Uncovering Ancient Secrets with Drones
3. Drone Teams: Working Together
To further explore the subject matter and to attain a deeper understanding of the market's dynamics and growth opportunities, click here.
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.
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Report Synopsis
|
Report Metrics |
Details |
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Base year considered |
2023 |
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Forecast period |
2024-2029 |
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Base year market size |
$30.4 Billion |
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Market size forecast |
$61.2 Billion |
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Growth rate |
CAGR of 12.6% from 2024 to 2029 |
|
Segments covered |
By offering, product segment, Drone Type, Application, and Region |
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Regions covered |
North America, Europe, Asia-Pacific, and Rest of the World, which consists of the Middle East and Africa, and Latin America |
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Countries covered |
U.S., Canada, Germany, France, Italy, U.K., China, Taiwan, South Korea, and India |
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Key market drivers |
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This report answers the following questions:
1. What is the projected market size and growth rate of the market?
2. What segments are covered in the market?
3. which type of drone will dominate the market by the end of 2029?
Some of the Key Market Players Are:
Other related reports
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Delivery Drones: Global Markets and Technologies: 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 from BCC Research.
For further information on the subject matter or to purchase the report, please contact info@bccresearch.com.
Drone Technology and Global Markets( IAS104E )
Publish Date: Sep 2024
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