Tethered Drone Market to Reach $404.9 Million, Globally, by 2031 at 4.9% CAGR: Allied Market Research

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Dec 07, 2022, 08:30 ET

Technological developments in tethered UAVs which opened up new possibilities for border patrols, and more, and rise in demand for improved surveillance due to the growing threat of terrorism and security concerns drive the global tethered drone market.

PORTLAND, Ore., Dec. 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Tethered Drone Market by Solution (Tethered Drone, Tethered Stations), by Application (Search and Rescue, Telemetry and communication, Surveillance and Protection, Commercial and Recreational), by End Use (Commercial, Military): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global tethered drone industry generated $257.3 million in 2021, and is estimated to reach $404.9 million by 2031, witnessing a CAGR of 4.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints and Opportunities

Technological developments in tethered UAVs which opened up new possibilities for border patrols, live streaming events, low-altitude satellite surveillance and more, rise in demand for improved surveillance due to the growing threat of terrorism and increase in security concerns across the globe, the fast adoption of tethered drone in the commercial sector, and increased expenditure on defense by governments drive the growth of the global tethered drone market. However, increase in competition in aerial imagery and concerns regarding privacy & security hamper the market growth. On the other hand, diversifying the connectivity of tethered drones and betterment in drone technologies provide new opportunities for the market growth in the coming years.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic moderately impacted the tethered drone market. Though there was no major impact toward its operation, the manufacturing industry experienced a notable business impact due to lack of resources and raw materials.
Debarment of several tethered drone contracts on the commercial and military front was detrimental to the market growth.
Corporate funds allocated toward managing bottom line of the company during the pandemic forced them to reduce research and development funds.

The tethered drone segment to maintain the largest share during the forecast period

Based on solution, the tethered drone segment was the largest market in 2021, contributing to more than two-thirds of the global tethered drone market, and is expected to maintain its leadership status during the forecast period. The huge demand for autonomous security and surveillance systems has compelled defense organizations to adopt tethered drones for enhancing their defense capabilities. However, the tethered stations segment is projected to witness the fastest CAGR of 5.8% from 2022 to 2031. This is due to the fact that manufacturers of tethered stations are developing new solutions for end users to enhance the security and surveillance of a country.

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The commercial and recreational segment to maintain its dominance during the forecast period

Based on application, the commercial and recreational segment held the largest market share of more than one-third of the global tethered drone market in 2021, and is expected to maintain its dominance through 2031. As tethered drones are equipped with cutting-edge camera modules and acoustic devices, they pose risks to business's privacy. Their exposures could be used to get physical access to networks and equipment in critical infrastructure sectors, allowing them to collect data from systems which insurgent groups could not access otherwise due to range constraints. Such issues led to the increased adoption of tethered drones to safeguard the assets and data of commercial organizations, which would boost the demand for tethered drone technologies for commercial applications. However, the telemetry and communication segment is projected to witness the largest CAGR of 6.8% from 2022 to 2031. The increase in the launch of state-of-the-art drone technologies by tethered drone providers boosts the growth of the segment.

The commercial segment to garner the largest revenue during the forecast period

Based on end use, the commercial segment held the largest market share of more than three-fifths of the global tethered drone market in 2021, and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the highest CAGR of 4.9% from 2022 to 2031. This is owed to the fact that tethered drones are finding applications in supporting the management at construction sites, detecting methane in gas pipeline infrastructure and landfills, precision agriculture and farming, and various other commercial applications.

North America to maintain its dominance by 2031

Based on region, North America was the largest market in 2021, capturing nearly one-third of the global tethered drone market, and is expected to lead the trail during the forecast period. The market in the same region is projected to manifest the fastest CAGR of 6.0% during the forecast period. This is attributed to the adoption of tethered drone systems by the defense and law enforcement agencies, owing to multiple military modernization and enhancement programs underway in the region. Moreover, increase in investment by the North American countries propels the development of tethered drone systems equipment. Furthermore, the presence of premier defense equipment manufacturers notably contributes toward the market growth during the forecast period.

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Leading Market Players

Acecore Technologies
Comsovereign
Elistair Inc.
Fotokite
Hoverfly Technologies
Novadem
Sky-Drones Technologies Ltd.
Teledyne Flir LLC
Yuneec Holding Ltd.

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