Global Multirotor Drones Market Size, Share, Opportunities, And Trends By Type (Tricopters, Quadcopters, Hexacopters, Octocopters), By Payload (Camera, Wireless HD Transmission Video System, Electro-optical Sensors, Wi-Fi, GPS, Laser Designators, CBRN Sensors, Others), By Application (Aerial Shooting, Law Enforcement, Surveillance & Reconnaissance, Geographical Inspection, Commercial Inspection, Others), By End-User (Defense Sector, Government, Commercial Sector), And By Geography - Forecasts From 2023 To 2028
- Published : Jun 2023
- Report Code : KSI061615622
- Pages : 140
The global multirotor drones market is expected to grow at a CAGR of 9.65% to reach a market size of US$3.669 billion by 2028.
A multirotor drone is a UAV that has numerous, usually four or more, rotors that are placed in a symmetrical pattern. The drone's rotors, which create lift and enable takeoff and aerial maneuvering, are managed by an onboard flight controller. Due to their versatility and capacity to carry out a wide range of tasks in a variety of industries, multi-rotor drones are in high demand. Popular applications include aerial photography and videography, mapping and surveying, inspection of infrastructure and buildings, search and rescue missions, and delivery of goods and supplies. Multirotor drones are being used more and more in agriculture to monitor crops, optimize yields, and apply pesticides.
Increasing use for inspection purposes
Drones gather data more than 50 times faster than traditional methods. Due to the scale of the majority of solar farms, a drone equipped with a sufficient thermal camera can scan the whole structure more quickly than someone on the ground using a hand-held thermal camera. Manual inspections of turbines are conducted, either by climbing or by capturing distant pictures. Dangers can be eliminated by using drone evaluations rather than manual inspections that require climbing. The procedure of gathering data on the ground lacks the precision that a drone offers which increases the global multirotor drone market size.
Rising advanced technologies
A wide range of professions are increasingly likely to use drones. Because of their speed and agility, these flying aircraft swiftly provide comprehensive and valuable results. Drones equipped with sensors and cameras are currently demonstrating how useful they are for capturing real-time video that can be preserved for later analysis. Unmanned aircraft systems may locate broken-down structures and machinery more quickly and economically than traditional methods. For instance, the Hybrid-Electric HAMR UAS was introduced in January 2022 by Advanced Aircraft Business, a US-based developer and producer of hybrid fuel-electric drones for defense applications. The system has a hybrid gas-electric propulsion system with a multi-rotor architecture. Fuel injection is electronically controlled, so the airplane always gets the right amount of fuel.
High installation cost
Multirotor drones are expensive to install in pre-existing vehicles. Additionally, newer technologies like advanced driving assistance systems (ADAS) call for pricey cameras for several uses including rear blind spot detection and others. Therefore, it is anticipated that the high cost of installing rear cameras will restrain the market's expansion for car backup cameras. Additionally, as with any new technology, drones are still relatively new and are subject to some consumer prejudice. Some people are uncomfortable with the idea of UAVS and have concerns about their safety or potential privacy implications, which may impede the global multirotor drone market size.
Military budget cuts
Reduced military spending, particularly in affluent nations, is an issue that could impede the expansion of the global multirotor drone market globally. The speed and durability of multirotor drones are constrained. They move more slowly than fixed-wing aircraft. These elements may have an impact on the target market's expansion. However, the development of a low-cost, low-energy multirotor drone can generate significant economic prospects for market participants.
Rising demand in the defense sector
The defense sector is expected to hold the global multirotor drone market share in the upcoming years due to an increase in the usage of remotely operated machines as a substitute for saving human life on the battlefield. A sharp increase of 4.3% has been seen in the demand for advanced and well-equipped Multirotor Drones by Governments worldwide as a result of an increase in the usage of cutting-edge technology for examining areas impacted by natural disasters and monitoring the implementation of policies. Due to characteristics like high carrying capacity and traffic avoidance, multirotor drone demand is expected to rise by 3.1% in 2021 among e-commerce companies.
Asia Pacific is projected to have the highest share of the global multirotor drones market
The Asia Pacific region is anticipated to lead the global multirotor drone market during the projected period. During the forecast period, the Asia Pacific region is expected to grow at a high rate. the Asia Pacific region's sharp increase in investment in law enforcement and defense. A considerable budget is set aside by places like China, India, and South Korea for defense and law enforcement training. Additionally, escalating instances of interpersonal conflict, asymmetric warfare, terrorist activity, and preparation for future battles, together with increased economic growth and advancement in the manufacturing sector and semiconductor products, actively support market enforcement.
Market Key Developments
- In June 2022, Draganfly Inc. an award-winning, market-leading drone products and systems provider, is happy to announce the release of its new Heavy Lift and Commander 3 XL multirotor drones built in North America. The Heavy Lift Drone from Draganfly is a multirotor unmanned aerial vehicle ("UAV") that can lift heavier objects and travel farther. The Company's heavy-duty, sturdy UAV has a load lift capacity of 67 pounds and a flight time of up to 55 minutes. It is capable of automatic missions and manual flight operations. The Commander 3 XL Drone from Draganfly is a multirotor UAV with great endurance, weather resistance, and quick deployment capabilities.
- In May 2022, DJI Mini 3 Pro, its most effective portable camera drone, was released in May 2022. To comply with regulations in many regions and nations, the DJI Mini 3 Pro measures less than 249 grams. This drone also offers cutting-edge features like 4K/60fps video, tri-directional obstacle sensing, ActiveTrack, and 90° gimbal rotation for recording high-quality vertical imagery for social media.
- In February 2022, a new firmware update was released by Autel for their EVO Nano and EVO Lite Series Drones. The new update offers higher photo resolution options in select models, manual focus adjustment for different models, and multiple video frame rate choices up to 50 fps. Additionally, by adjusting the frame rate, users can have more control over the video quality and even develop better shooting techniques.
Global Multirotor Drones Market Scope:
|Market Size Value in 2028||US$3.669 billion|
|Growth Rate||CAGR of 9.65% from 2021 to 2028|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, Payload, Application, End-User, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||ideaForge, MULTIROTOR, SZ DJI Technology Co. Ltd., Parrot SA, Yuneec International, Kespry Inc., Autel Robotics, Skydio Inc., Insitu Inc., Delair, Guangzhou EHang Intelligent Technology Co., Ltd., Aerialtronics, AeroVironme|
|Customization Scope||Free report customization with purchase|
- By Type
- By Payload
- Wireless HD Transmission Video System
- Electro-optical Sensors
- Laser Designators
- CBRN Sensors
- By Application
- Aerial Shooting
- Law Enforcement
- Surveillance & Reconnaissance
- Geographical Inspection
- Commercial Inspection
- By End-User
- Defense Sector
- Commercial Sector
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL MULTIROTOR DRONES MARKET, BY TYPE
6. GLOBAL MULTIROTOR DRONES MARKET, BY PAYLOAD
6.3. Wireless HD Transmission Video System
6.4. Electro-optical Sensors
6.7. Laser Designators
6.8. CBRN Sensors
7. GLOBAL MULTIROTOR DRONES MARKET, BY APPLICATION
7.2. Aerial Shooting
7.3. Law Enforcement
7.4. Surveillance & Reconnaissance
7.5. Geographical Inspection
7.6. Commercial Inspection
8. GLOBAL MULTIROTOR DRONES MARKET, BY END-USER
8.2. Defense Sector
8.4. Commercial Sector
9. GLOBAL MULTIROTOR DRONES MARKET, BY GEOGRAPHY
9.2. North America
9.3. South America
9.4.3. United Kingdom
9.5. Middle East And Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.4. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.3. SZ DJI Technology Co. Ltd.
11.4. Parrot SA
11.5. Yuneec International
11.6. Kespry Inc.
11.7. Autel Robotics
11.8. Skydio Inc.
11.9. Insitu Inc.
11.11. Guangzhou EHang Intelligent Technology Co., Ltd.
SZ DJI Technology Co. Ltd.
Guangzhou EHang Intelligent Technology Co., Ltd.
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