Report Ocean introduces a fresh report examining the ‘Global Multirotor Drone Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Global Multirotor Drone Market is valued at approximately USD 1.86 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.1% over the forecast period 2022-2029. Multirotor Drone is a type of Unmanned aerial Vehicle that uses more than two rotors with fixed pitch spinning blades to generate the required lift. These drones work on the principle of a helicopter. These are available in different rotor options including tricopters (3 rotors), quadcopters (4 rotors), hexacopters (6 rotors), and octocopters (8 rotors). Multirotor drones offer several advantages such as high maneuverability and easy landing & takeoff among others. The increasing application of drones in Mapping and Surveying activities and growing non-military applications of drones as well as strategic initiatives from leading market players are key factors accelerating the market growth.
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The increasing utilization of multirotor drones in construction sectors for mapping and surveying applications has created lucrative demand for multirotor drones. For instance, as per Statista – in 2021, the commercial drone market worldwide was estimated at USD 27.81 billion, and the market is projected to grow to USD 58.4 billion by 2026. Also, rising advancements in drone technology and growing expansion of agriculture sector would create lucrative opportunities for the market over the forecast period. However, the high cost of Multirotor Drone and low flying time impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Multirotor Drone Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to presence of leading market players and increasing utilization of drones across different industries such as agriculture, construction etc. in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising demand for multirotor drones from content creators and increasing application of drones in nonmilitary applications in the region.
Major market players included in this report are:
- Aero Systems West Inc.
- AeroVironment Inc.
- Australian UAV Pty Ltd
- Autel Robotics
- Centeye, Inc.
- Cyberhawk Innovations Ltd.
- DJI Innovations
- Draganfly Inc.
- Embention
- ideaForge Technology Pvt. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type
Tricopters
Quadcopters
Hexacopters
Octocopters
By Payload
Camera and Imaging Systems
Control Systems
Tracking Systems
Others
By Application
Mapping and Surveying
Surveillance, Inspection, and Monitoring
Aerial Photography
Others
By End-Use
Commercial
Military and Government
Consumer
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
The following are significant aspects of the industry that may be relevant:
Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry’s potential.
Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.
Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.
Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.
Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.
Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.
Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.
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