The small drones market worldwide is projected to grow by $23.2 billion, guided by a compounded growth of 15.6%.
In order for decision-makers to leverage this emerging opportunity, they must stay on top of trends. What types of trends?
Defense, for example, displays the potential to grow at over 16%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over $14.5 billion by the year 2025, defense will bring in healthy gains adding significant momentum to global growth.
While global megatrends sweeping through the market influence the primary direction of growth, regional markets are swayed by more granular locally unique business drivers. Representing the developed world, the United States will maintain a 13.2% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over $853.6 million to the region’s size and clout in the next 5 to 6 years. Over US$1.2 Billion worth of projected demand in the region will come from other emerging Eastern European markets. In Japan, Defense will reach a market size of $700.6 million by the close of the analysis period. As the world’s second-largest economy and the new game-changer in global markets, China exhibits the potential to grow at 22.4% over the next couple of years and add approximately $6.9 billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring the quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, 3D Robotics, Inc. (3DR) (USA); Aeronautics (Israel); AeroVironment, Inc. (USA); Boeing Company, The (USA); DJI (China); Elbit Systems Ltd. (Israel); Israel Aerospace Industries Ltd. (Israel); Lockheed Martin Corporation (USA); Microdrones GmbH (Germany); Northrop Grumman Corporation (USA); Parrot Drones SAS (France); Raytheon Company (USA); SAAB AB (Sweden); Textron Inc. (USA); Thales Group (France); Turkish Aerospace Industries, Inc. (TAI) (Turkey)
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