Market Insight
Global Electric Drone Market is making significant strides. The market growth attributes to advances in technology have enabled unmanned aerial vehicles (AVs) to function efficiently with more compact size and lightweight. Drones are primarily used in military operations for surveillance & monitoring purposes. However, drones also find wide usage in civil and commercial applications such as educational, scientific, recreational, and others.
Rise in demand for electric drones in wildlife photography, videography, and protection escalate the market growth to furthered height. According to Market Research Future (MRFR), the global electric drone market is projected to grow at an impressive CAGR during the forecast period (2019 – 2025). The increase in research and development activities by public and private sectors accelerate market growth.
Moreover, substantial investments by industry players in the development of small, lightweight, and efficient electric drones boost market growth. On the other hand, the high initial purchasing cost and maintenance cost is a significant factor expected to impede the market growth. Also, increasing complexities in design pose challenges in the growth of the market.
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Competitive Landscape
Highly competitive, the Electric Drone Market appears fragmented due to the presence of several well-established players. Providers focus on improving their market performance by acquiring promising companies in the fast-growing markets. Emphasizing quality, manufacturers develop a standard and custom-designed electric drone that can provide superior performance and long-term service for demanding buyers.
To ensure top quality and maximum performance products, vendors rely on the latest technologies. They also employ improvement strategies to analyze and update the software, implement improvements, and new technology launch to meet the changing needs of their customers. Substantial investments are transpired in R&D for the development of technologies and products.
Players leading the Global Electric Drone Market are Parrot Drones SAS (France), AgJunction (US), senseFly SA (US), AgEagle Aerial Systems Inc. (US), Trimble Inc. (US), Festo (Germany), Headwall Photonics, Inc. (US), Gamaya (Switzerland), and LeddarTech Inc. (Canada), among others.
Industry/ Innovation/ Related News
July 10, 2020 – Drone delivery service provider Skyports announced its collaboration with Vodafone and Deloitte on space-enabled drone deliveries for NHS in Scotland to respond to COVID-19 needs. The collaboration with technology communications company Vodafone and digital consultants Deloitte would help transport medical supplies and samples for the NHS in Scotland using drones.
Within the next few months, Skyports would start delivering pathology samples, medicine, essential personal protective equipment (PPE), and COVID-19 testing kits to & fro hospitals and medical practitioners around the west coast of Scotland. NHS staff would be able to make on-demand and scheduled requests to use Skyports drones via a web customer interface developed by Deloitte.
Market Segments
The report is segmented into four dynamics.
By Surveillance Mission: Border Surveillance, Natural Disaster, Illegal Traffic Monitoring, and others.
By Payload: Electro-Optic/Infrared Sensor, Camera, Electronic Intelligence, Electronic Warfare, and others.
By Application: Commercial, Civil, and Military.
By Regions: Europe, Americas, APAC, and Rest-of-the-World.
Geographical Analysis
North America dominates the Global Electric Drone Market. The largest market share attributes to the rising usages of electric drones for commercial, civil, and military purposes. Besides, the presence of many notable players and a large consumer base comprising government and defense in the region drives the market growth. Moreover, substantial investments by government and defense authorities in the region increase market sales. The North American electric drone market is projected to retain its dominance over the global market throughout the forecast period.
Europe stands second in the global electric drone market. The market is driven by the rising R & D investments transpired by industry players for developing small, lightweight, and efficient electric drones that influence the regional market growth. Additionally, the growing usage of electric drones in military operations and surveillance applications positively impacts regional market growth. The European electric drone market is projected to create a substantial revenue pocket during the review period.
The Asia Pacific region has emerged as a promising market for electric drones. Rising usages of drones in the commercial and residential sector impact the growth of the regional market. Besides, increasing awareness for uses of electric drones for weather condition monitoring and agricultural purposes increases the size of the regional market. Increasing uses of electric drones in the media and entertainment and telecommunication sector help the market to proliferate. Additionally, rising economic growth and technological advances provide a considerable impetus to the regional market growth.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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