The global drone technology market was valued at $30.4 billion in 2023. The market is projected to grow from $33.9 billion in 2024 to $61.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 12.6% from 2024 through 2029.
The North American drone technology market is projected to grow from $12.5 billion in 2024 to $23.0 billion by the end of 2029, at a CAGR of 12.9% from 2024 through 2029.
The Asia-Pacific drone technology market is projected to grow from $9.0 billion in 2024 to $17.7 billion by the end of 2029, at a CAGR of 14.5% from 2024 through 2029.
Report Scope:
This report analyzes drone technology offerings, including hardware, software and services. It examines the different drone products, such as fixed-wing, rotary-blade and hybrid drones, and further segments the market by type of drone, including unmanned aerial vehicles (UAVs), unmanned underwater vehicles (UUVs), unmanned ground vehicles (UGVs) and unmanned surface vehicles (USVs).
This report also explores the applications of drone technology across the defense, commercial, government and consumer sectors. It also provides a market analysis by region: North America, Europe, Asia-Pacific, and Rest of the World (RoW), which includes Latin America and the Middle East and Africa.
The study also analyzes the drivers and dynamics of the drone market, along with current industry trends. The report concludes by providing profiles of the major vendors in the market. The base year for the study is 2023, with projections for 2024 through 2029, including expected CAGRs for that period.
Report Includes:
- 68 data tables and 54 additional tables
- An analysis of the global markets for drone technology
- Analyses of global market trends, with market revenue data from 2023, estimates for 2024, forecasts for 2025 and 2027, and projected CAGRs through 2029
- Estimate of the current market size and revenue prospects, along with a market share analysis by type of offering, product, drone type, application, and region
- Facts and figures pertaining to the market dynamics, technological advances, regulations, and the influence of macroeconomic factors driving future demand and innovation
- A Porter's Five Forces analysis, a global value chain analysis and an export/import trade data analysis
- A look at the recent patent grants and patent applications published
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies
- Competitive intelligence, including company shares, strategic alliances, M&A activity and venture funding outlook
- Company profiles of the leading industry players, including AeroVironment Inc., Airbus, Boeing, Drone Volt and DJI
Table of Contents
Chapter 1 Executive Summary
- Market Outlook
- Scope of the Report
- Market Summary
Chapter 2 Market Overview
- Overview
- Trade Data Analysis
- Imports
- Exports
- Outlook
- Value Chain Analysis
- Porter's Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Consumers
- Threat of New Entrants
- Level of Competitiveness
- Availability of Substitutes
Chapter 3 Market Dynamics
- Overview
- Market Drivers
- Technological Advances in Drone Technology
- Increasing Cost Efficiency
- 5G Technology and Cloud Computing
- Enhanced Public Perception and Awareness
- Strategic Investments and Partnerships
- Market Restraints
- Use of Drones as Spyware Tools
- Vulnerability to Sabotage
- Scarcity of Trained Pilots
- Market Challenges
- Technological Limitations
- Public Perception Issues
- Analysis of Trends
Chapter 4 Regulatory Landscape
- Overview
- United States
- European Union
- China
- South Korea
- India
- Australia
Chapter 5 Emerging Technologies
- Technology Snapshot
- Subsystems
- Technology
- Emerging Technologies
- AI and ML
- Swarming Technology
- Advanced Sensors
- Innovations in Battery Technology
- 5G Connectivity
- Hybrid Propulsion Systems
- Quantum Computing
- SLAM Technology
- Patent Analysis
- Regional Patterns
- Key Findings
Chapter 6 Market Segmentation Analysis
- Segmentation Breakdown
- Market Breakdown by Offering
- Overview
- Hardware
- Software
- Services
- Market Breakdown by Product
- Overview
- Fixed-Wing Drones
- Rotary Blade Drones
- Hybrid Drones
- Market Breakdown by Type of Drone
- Overview
- Unmanned Aerial Vehicles
- Unmanned Underwater Vehicles
- Unmanned Ground Vehicles
- Unmanned Surface Vehicles
- Market Breakdown by Application
- Overview
- Defense
- Commercial Drones
- Government
- Consumer
- Geographic Breakdown
- Market Breakdown by Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
Chapter 7 Competitive Landscape
- Analysis of Leading Companies
Chapter 8 Environmental, Social, and Governance (ESG) Perspective
- Overview
- Environmental Impacts
- Social Impacts
- Governance Impacts
- Status of ESG in the Drone Technology Industry
- Concluding Remarks from BCC
Chapter 9 Appendix
- Research Methodology
- References
- Abbreviations
- Company Profiles
- AEROVIRONMENT INC.
- AIRBUS
- BOEING
- DELAIR
- DJI
- DRAGANFLY INNOVATIONS INC.
- DRONE DESTINATION LTD.
- DRONE HARMONY AG
- DRONEVOLT
- EHANG
- FREEFLY SYSTEMS
- HUBSAN
- IDEAFORGE TECHNOLOGY LTD.
- INSITU
- INSIDEFPV VENTURES PVT. LTD.
- KESPRY
- MMC
- PARROT DRONE SAS
- POWERVISION INC.
- SKYDIO INC.
- YUNEEC