NEW YORK, March 3, 2016 /PRNewswire/ -- "Increasing need for operational efficiency is a major factor for increasing procurement of small drones globally"
The global small drones market is expected to grow from an estimated USD 5.80 billion in 2015 to USD 10.04 billion by 2020, at a CAGR of 11.6% from 2015 to 2020. The market for small drones is driven by critical factors, such as increasing demand for operational efficiency for surveillance and reconnaissance, rising commercial applications for packet delivery and monitoring, and minimized human intervention in combat and other risky operations, among others.
"Commercial segment to witness higher growth during the forecast period"
The key applications considered for the market study are commercial and defense.
The commercial segment market is estimated to grow at the highest CAGR during the forecast period, among defense application. Small Drones are currently being used for several commercial applications, such as crop monitoring, packet delivery, surveying and data monitoring, among several others.
"North America dominates; Asia-Pacific to grow at the highest rate"
The North American region dominates the global small drones market in 2015, and is expected to continue its dominance during the forecast period of 2015 to 2020. The U.S. is considered to be the largest developer, operator, and exporter of small drones globally, thereby resulting in the large share of the North American region in the global small drones market.
The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the fact that more than 20 nations in the Asia-Pacific currently have active small drones programs, including China, India, Japan and South Korea, among others. With rapid advancements and adoption of defense technologies in the region, the small drones market in the Asia-Pacific is projected to grow significantly during the forecast period (2015 to 2020).
"Break-up of profile of primary participants for the Unmanned Ground Vehicle Market"
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 30%, APAC – 20%, RoW – 5%
The major companies profiled in the report include Northrop Grumman (U.S.), Lockheed Martin (U.S.), AeroVironment, Inc. (U.S.), Parrot SA (France), DJI (China), QinetiQ Group Plc. (U.K.), and XAircraft (China), among others.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis —industry analysis (industry trends, and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the small drones market, high-growth regions and countries and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on small drones offered by the top 10 players in the global small drones market
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the small drones market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyses markets for small drones across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global small drones market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global small drones market
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