AI In The Drone Market Size, Share, Opportunities, And Trends By Technology Type (Software, AI-pilot, Others), By Offerings (Hardware, Software), By End-User (Defence, Logistics And Delivery, Agriculture And Precision Farming, Disaster Management And Search & Rescue, Environmental Monitoring, Others), And By Geography - Forecasts From 2024 To 2029
- Published : Nov 2024
- Report Code : KSI061617023
- Pages : 144
The AI in the drone market is estimated to reach US$61.599 billion by 2029, growing at a CAGR of 30.45% from US$24.444 billion in 2024.
Integrating artificial intelligence (AI) into the drone sector offers various advantages. AI and drones are a formidable combo that has the potential to transform a variety of industries. When coupled, they build intelligent and autonomous airborne systems capable of completing complicated tasks in a variety of conditions. Because of this, the combination of AI and drone technology offers new aerial technological developments for various industries, including agriculture, construction, energy, and security, as well as a solution to many aerial imagery demands.
Integrating AI into drones offers various benefits, including better automation to control drones and helps in real-time data collection and analysis. This integration also helps drones to avoid obstacles and opt for an efficient route.
What are the AI in the drone market drivers?
- Increased technological advancement in the drones Industry
Significant technological advancements in several important areas are driving the development of drones powered by artificial intelligence. Developments in machine learning and computer vision are providing AI systems with greater skills in object detection, path planning, and even obstacle avoidance. Drones equipped with advanced sensors and cameras can detect and monitor potential threats in real-time, providing critical information to military and security personnel. Advanced computer vision and machine learning algorithms are used for real-time object detection. Autel Robotics EVO II Pro 6K A payload compartment enables users to mount more sensors, such as LiDAR cameras. These cameras would enable a drone to produce incredibly accurate 3D point clouds, creating a comprehensive digital map of its environment.
- The growing need for automation in logistics
Industries these days need effective and automated ways to handle logistics jobs. Drones and AI together present an attractive alternative for companies looking to increase productivity and accuracy as they save labor expenses and increase productivity by automating operations that were previously done by hand. By the end of 2024, Prime Air plans to expand internationally into Italy and the UK, in addition to starting drone deliveries in the United States. Similarly, in October 2023, Amazon Pharmacy launched drone delivery of pharmaceuticals. Eligible consumers in College Station, Texas, can now have their drugs delivered to their homes via drone within 60 minutes of placing their purchase with Amazon Pharmacy.
- Booming drone adoption across multiple sectors
AI-driven drones are taking over major sectors such as agriculture, serving as industrious field workers. They minimize human effort while monitoring crop health, accurately locating pests, and applying irrigation to maximize production and optimize resource use. The movement known as "precision agriculture" is revolutionizing the way of raising food. According to the January 2022 Press Release Bureau, the government extended financial support under the "Sub-Mission on Agriculture Mechanization" to encourage the use of drones in agriculture. The Agriculture Ministry will give agricultural institutions grants of up to Rs. 10 lakhs so the farmers can buy drones. When it comes to drone demonstrations on farmer fields, Farmer's Producers Organizations (FPOs) can receive funds for up to 75% of the total cost of the drone. These initiatives and factors supporting agriculture enhance the drone market.
Major challenges hindering the AI in the drone market:
- Technical limitations and environmental fluctuations for AI drones
Battery life and range: the drones have limited flight duration and range, making them ineffective for long-distance or large-scale operations. Unfavorable atmospheric conditions, such as intense rain or wind, can severely affect drone performance and reduce their operating window.
- The high initial expense and integration
AI-powered drones can be expensive to acquire, deploy, and operate, especially for smaller companies or organizations. Drones with AI capabilities may need to be integrated with current workflows and infrastructure, which may involve large financial outlays and specialized skills.
Geographical outlooks of the AI in the drone market:
- Asia Pacific is forecasted to hold a major share of the AI In The Drone Market.
The market is anticipated to increase due to the recent modifications and drone investment in several nations. According to the International Trade Administration, Japan allocated 6.8 trillion yens (about $480 billion) for defense in Fiscal Year ("JFY") 2023, making it the third-highest defense budget in Asia and the ninth-largest in the world overall. According to the Defence Programs and Budget, for 2023 unmanned defence capabilities, Japan invested over $182.7 billion. According to the Ministry of Finance & Budget Division, for 2024-2025, the Ministry allocated INR 6,21,540.85 crore (about USD 75 billion) to the Defence Ministry, which reflected a 4.7% increase over the previous year's budget.
Major players and products in the AI in the drone market
- Folio3 AI is among the leading technology-based corporation, which offers multiple platforms, like road traffic analysis, face recognition software, AI transcription software, and smart vision. The company provides products and services to various industries, such as healthcare, automotive, manufacturing, aviation, and sports. In the global AI in the drone market, the company offers AI drone inspection software, which can perform a wide range of applications, like aerial mapping and modeling.
- Shield AI is an intelligent autonomy solution provider that offers a wide range of products and solutions like AI pilots, AI sensors, aircraft, and others. The company's Hivemind AI pilot is among the first autonomous AI pilots deployed since 2018. The Hivemind solution offers edge autonomy, which does not require any inputs, including GPS data and waypoints of the environments. The company also provides various aircraft powered by Hivemind technology, such as the Nova 2 drone. This drone features day and night autonomy, with DPS denying flights and thermal cameras, among many others.
Key developments in the AI in the drone market:
- In January 2024, Nearthlab, a prominent developer of autonomous drone technologies, made a big stir through the launch of its “AIDrone”, representing the merging of AI with drone technology.
- In October 2023, Maris-Tech launched “Jupiter Drones,” an Ultra-Compact AI-powered video analytics product for the autonomous aerial vehicle market. A wide range of professional civilian, homeland security, and defense applications are suitable for Jupiter Drones.
- In February 2023, the Aerial Operations Unit of VAR Studios announced that the Skydio 2+ had been acquired. One of the top American drone manufacturers, Skydio 2+, is well-known for producing AI-powered autonomous drones.
AI in the Drone Market is segmented and analyzed as follows:
- By Technology Type
- Software
- AI-pilot
- Others
- By Offerings
- Hardware
- Software
- By End-User
- Defence
- Logistics and Delivery
- Agriculture and Precision Farming
- Disaster Management and Search & Rescue
- Environmental Monitoring
- Others
- By Geography
- North America
- US
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- UK
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Taiwan
- Others
- North America
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key benefits for the stakeholders
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. AI IN THE DRONE MARKET BY TECHNOLOGY TYPE
5.1. Introduction
5.2. Software
5.3. AI-pilot
5.4. Others
6. AI IN THE DRONE MARKET BY OFFERINGS
6.1. Introduction
6.2. Hardware
6.3. Software
7. AI IN THE DRONE MARKET BY END-USER
7.1. Introduction
7.2. Defence
7.3. Logistics and Delivery
7.4. Agriculture and Precision Farming
7.5. Disaster Management and Search & Rescue
7.6. Environmental Monitoring
7.7. Others
8. AI IN THE DRONE MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. By Technology Type
8.2.2. By Offerings
8.2.3. By End-User
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Others
8.3. South America
8.3.1. By Technology Type
8.3.2. By Offerings
8.3.3. By End-User
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe
8.4.1. By Technology Type
8.4.2. By Offerings
8.4.3. By End-User
8.4.4. By Country
8.4.4.1. Germany
8.4.4.2. France
8.4.4.3. United Kingdom
8.4.4.4. Spain
8.4.4.5. Others
8.5. Middle East and Africa
8.5.1. By Technology Type
8.5.2. By Offerings
8.5.3. By End-User
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.2. UAE
8.5.4.3. Israel
8.5.4.4. Others
8.6. Asia Pacific
8.6.1. By Technology Type
8.6.2. By Offerings
8.6.3. By End-User
8.6.4. By Country
8.6.4.1. China
8.6.4.2. Japan
8.6.4.3. India
8.6.4.4. South Korea
8.6.4.5. Taiwan
8.6.4.6. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. Folio3 Software Inc.
10.2. Saiwa
10.3. Shield AI
10.4. Skydio
10.5. Lockheed Martin
10.6. Airobotics
10.7. Nearthlab
10.8. Percepto
10.9. Ayaan Autonomous Systems Pvt. Ltd.
10.10. AI Aerial Dynamics
10.11. Asteria Aerospace
10.12. Skylark Drones
Folio3 Software Inc.
Saiwa
Shield AI
Skydio
Lockheed Martin
Airobotics
Nearthlab
Percepto
Ayaan Autonomous Systems Pvt. Ltd.
AI Aerial Dynamics
Asteria Aerospace
Skylark Drones
Related Reports
Report Name | Published Month | Get Sample PDF |
---|---|---|
Mobile Artificial Intelligence Market Report: Forecast 2029 | Oct 2024 | |
AI In Retail Market Insights: Size, Share, Growth, Forecast 2029 | Nov 2024 | |
AI In The Design Market Insights: Size, Share, Forecast 2029 | Oct 2024 | |
AI In Gaming Market Size, Share & Trends: Report, 2024 - 2029 | Mar 2024 | |
AI In The Operating Systems Market Insights: Size, Forecast, 2029 | Oct 2024 |