The multirotor drones market has been segmented into product type, applications and end user. In terms of application, the market of multirotor drones is further classified into aerial photography/videography, agriculture, mapping & surveying, real state photography, payload carrying, bird control, product delivery, aviation, search and rescue and marine mission among others such as live streaming events and crop spraying. Among these segments, the aviation and aerial photography & videography segment has the highest percentage of usage as compared to other applications. Moreover, there is an estimated boom in the market for multirotor drones in military services with significant CAGR over the forecast period. These factors are envisioned to expand the multirotor drones market in upcoming years.
The global market for Multirotor Drones is anticipated to witness a robust growth over the period 2017-2024. The global market for multirotor drones stood at a valuation around USD 12.6 Billion in the year 2016 and is anticipated to behold this positive growth in near future owing to their increased applications in end-use industries.
In the regional segment, Asia Pacific market for multirotor drones is expected to grow at highest CAGR during the forecast period. This can be attributed to high investment in R&D sectors in emerging economies such as China and India. Further, due to economic decline and budget cuts, North America and Europe regions are anticipated to witness a slow growth rate over the forecast period. Middle East & Africa and Latin America regions are also expected to witness a satisfactory growth in near future due to high investment in R&D sector in these regions.
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Wide Scale Applications in Various Sectors
Over the past few years, it has been observed that the unprecedented abilities of multi-rotor drones have attracted consumers across the globe. Multicopter or multirotor drones provide revolutionary abilities to do difficult things or to go somewhere, where a person has never been before. Rising demand for multi-rotors in non-military sectors such as agriculture, environment inspection, sports coverage, entertainment & media industries, parcel delivery and others is a major growth driver to benefit the expansion of multi-rotor drones market globally.
However, factors such as payload capacity, limited flight sufferance and high cost are likely to inhibit the growth of the multirotor drones market in the near future.
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The report titled “Multirotor Drones Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the multirotor drones market in terms of market segmentation by product type, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the multirotor drones market which includes company profiling of AeroVironment Inc., DJI Innovation Inc., MicroDrones GmBh, Lockheed Martin LMT, PrecisionHawk Inc., 3D Robotics, Aibotix GmBh, Dragonfly Innovations, Coptercam and Cyberhawk Innovation Ltd.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the multirotor drones market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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