In the past few years, the drones have increasingly penetrated in several business verticals. The adoption rates of small drones have grown extensively and various companies have integrated aerial data in their workflows to improve efficiency and streamline the operations. Small drones have the capability to capture data and, thus can transform the operations of companies. Furthermore, it also offers unparalleled insights of the data and delivers ROI for both large enterprises & small- and medium enterprises (SMEs).
The global small drones market was valued at $6.2 billion in 2016, and is projected to reach at $13.4 billion by 2023, growing at a CAGR of 11.8% from 2017 to 2023.
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Major Market Players:
• LOCKHEED MARTIN CORPORATION
• AEROVIRONMENT INC
• ELBIT SYSTEMS, LTD
• PARROT SA
• 3D ROBOTICS INC
• BAE SYSTEMS, INC
• THE BOEING COMPANY
• SAAB AB
• THALES GROUP
• TEXTRON INC
The small drone industry is rising due to latest technological implantation within it. For instance, DJI has unveiled an all new smart controller for its popular drones that features a built-in display. Moreover, it has a flyers fed up with fiddle around and small cables, and with this function one can wrestling their phones into the current controller’s arms. The controller runs an interface based on Android’s platform, and so it supports DJI’s GO 4 and Pilot apps, as well as a number of third party video editing programs. In addition, there’s DJI Go-Share which lets customer quickly and simply transfer video and images from the Smart Controller to your smartphone.
Small drones are remotely operated and gather information with minimal human intervention and with no requirement of a person on board. These drones are also utilized in film production, news bulletins, and music videos for creating aerial videos. They are used to inspect and investigate lands that are impenetrable or difficult to reach, due to their longer operational capacity.
The big giant companies are involving in the partnership to develop software required for the operations of drones. These software innovation is done to utilize pattern recognition for asset management. Moreover, the industry needs to integrate AI & deep learning to automate inspection processes by the use of small drone software’s even more precise to provide more value.
The market is driven by factors such as increased commercial applications and enhanced operational efficiency. However, threats including lack of skilled pilots and strict airspace regulations hamper the small drones market growth.
Factors that are expected to impact the global small drones market size during the forecast period are rise in need for enhanced surveillance, increment in operational efficiency, modernization of military with respect to technology, and decline in defense budgets of advanced economies. However, the impact of factors, such as lack of skilled pilots, is expected to diminish during the forecast period.
High threat from terrorism and increase in security concerns globally have led to increased governmental expenditure for small drones. Small drones are used for surveillance of major events in large cities. In addition, several government agencies have mandated strict policies and guidelines to be complied for installation of small drones at high-risk locations.
Various nations are expected to lay out a comprehensive military modernization program as a part of their national defense strategy. These nations are expected to be dependent on unmanned systems for information gathering, reconnaissance, observation, and communication. The reduced cost and advancement in smaller drones are expected to enhance national security at a comparatively lower cost than by using other sophisticated weapons. Decline in defense budgets of advanced economies as compared to their GPD boost the use of small drones.
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