The global small drones market is projected to grow from USD 5.80 Billion in 2015 to USD 10.04 Billion by 2020, at a CAGR of 11.6% during the forecast period. Factors such as rising demand for operational efficiency for surveillance and reconnaissance, and minimized human intervention in combat and other risky military operations and in commercial avenues, such as agriculture and transportation for crop monitoring and packet delivery respectively, are the major factors that will drive the global small drones market.
On the basis of size, the given market has been segmented into mini, micro and nano. The nano drones segment is projected to grow at the highest CAGR during the forecast period of 2015 to 2020, as the demand for nano drones across all the industries are increasing globally, combined with several advancements in nano technology for drones.
Small drones have been increasing the interest of various manufacturers and their inclination towards the commercial application in the market. Government organizations and private agencies have been investing a lot in manufacture and development of advanced and efficient small drones for defense and commercial application, equipped with advanced payloads and having better endurance capabilities at low cost. This market is also segmented on the basis of type, such as fixed wing and rotary wing market. The rotary wing small drones market is growing at the highest CAGR due to its flexibility to move in any direction at any angle and at any point of time, which could be either operated remotely or are autonomous.
The payload market is dominated by lithium-ion and is growing at a modest CAGR during the forecast period of 2015-2020. The fuel-cell battery is growing at the highest CAGR followed by hybrid propulsion systems in the payload market. The market for small drones has been segmented based on application, such as commercial and defense. The defense application sector dominates the studied market, and it is expected that the commercial sector would dominate over the next five years, primarily driven by the rise in demand in the commercial sector for agriculture and logistics operations.
The Asia-Pacific region is expected to exhibit the highest growth rate in the small drones market, and is projected to grow at a highest CAGR during the forecast period from 2015 to 2020. The Asia-Pacific market is expected to grow at the highest CAGR, because several Asia-Pacific countries such as India, China, Australia, South Korea, and others have focused production of small drones for commercial and defense purposes, such as crop monitoring, logistics, reconnaissance and surveillance, among others.
View full report: Small Drones Market by Application (Defense, Commercial), Size (Micro, Mini, Nano), Payload (Sensor, Telemetry System, Camera, Videoscreen, NBC Detection, SAR, Others), Type, Propulsion Systems, & Region – Global Forecasts to 2020
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- Source: Research and markets