Drones Industry Forecast to Generate Revenues Exceeding $244 Billion by 2032, at a CAGR of 22.4%: SZ DJI Technology Co, Intel Corp, and Advanced Technology Labs (Yuneec) Dominate

Dublin, Jan. 09, 2025 (GLOBE NEWSWIRE) -- The "Drones Market Forecast 2024-2032" report has been added to ResearchAndMarkets.com's offering. The drones market is analyzed by type, application, and region.According to this report, the global drones market size reached a value of USD 38.25 billion in 2023. Aided by the increasing adoption of drones across various sectors, including agriculture, defence, logistics, and entertainment, the market is projected to further grow at a CAGR of 22.4% between 2024 and 2032 to reach a value of USD 244.95 billion by 2032. One of the major drones market trends is the increasing use of drones in agriculture. Farmers and agribusinesses are leveraging drone technology for precision farming, monitoring crop health, and optimising the use of water and fertilizers. By providing real-time data on crop conditions, drones are helping farmers increase productivity while reducing resource wastage, thus driving market demand in the agricultural sector.Similarly, the logistics industry is experiencing a revolution with the rise of drone deliveries. Several companies, including major retail giants and e-commerce platforms, are exploring drone technology to facilitate faster and more cost-efficient deliveries, particularly in remote or hard-to-reach areas.In the defence sector, drones continue to be indispensable, especially for surveillance, reconnaissance, and combat operations. Drones are utilised by military forces around the world for intelligence gathering and conducting precision strikes, reducing the need for manned missions and improving operational efficiency. The rising geopolitical tensions and increasing defence budgets are expected to further drive the demand for military drones, which constitute a major portion of the global drones market share.Additionally, the entertainment industry has embraced drones, particularly for aerial photography, videography, and filming. Drones have revolutionized the way media is produced, offering filmmakers and content creators the ability to capture unique and innovative footage. This is fuelling the demand for drones in various applications such as advertising, and film production, apart from recording important events.Rapid advancements in drone technology are significantly contributing to the drones market growth. Innovations such as artificial intelligence (AI), machine learning (ML), and improved sensor technology have enhanced the capabilities of drones, enabling them to perform more complex tasks with greater precision and efficiency. The integration of AI and ML, for instance, allows drones to analyse data in real-time, optimise flight paths, and make autonomous decisions.Furthermore, advancements in battery technology and propulsion systems have improved the endurance and range of drones, allowing them to operate for longer periods and cover greater distances. With the development of more efficient and environmentally friendly drones, market players are focusing on delivering drones with enhanced payload capacities, durability, and flight times.As per the global drones market analysis, the increasing interest in urban air mobility (UAM) and the potential for passenger drones and air taxis represent a transformative opportunity for the transportation sector. Several companies and startups are already developing drone-based urban transport solutions, which could redefine urban mobility and create new market segments in the coming years.Despite the numerous growth drivers, the global drone market faces several challenges that could potentially hamper its expansion. Regulatory frameworks governing drone usage vary significantly from country to country, often limiting the scope of commercial drone operations. Stringent regulations, particularly regarding airspace access, privacy concerns, and security risks, continue to pose barriers to widespread drone adoption, especially in densely populated areas.In conclusion, the global drones market value is set to increase in the coming years, driven by advancements in technology, expanding applications, and increasing demand across a wide range of sectors. Despite facing regulatory challenges and high costs, the market is set to witness robust expansion as drones become an integral part of modern industries, from agriculture to logistics to entertainment. By 2032, the market is expected to achieve remarkable growth, providing numerous opportunities for innovation, investment, and development across the globe.Market SegmentationMarket Breakup by Type Fixed-WingRotary-WingHybrid Market Breakup by Application ConstructionAgricultureEnergyEntertainmentLaw EnforcementOthers Market Breakup by Region North AmericaEuropeAsia PacificLatin AmericaMiddle East and Africa Competitive LandscapeThe report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global drones market. Some of the major players explored in the report are as follows: SZ DJI Technology Co. Ltd.Intel Corp.Advanced Technology Labs AG (Yuneec)DELAIR SASParrot Drones SASDroneDeploy, Inc.Terra Drone Corp.PrecisionHawk, Inc.Autel Robotics Co. Ltd.Birds Eye Aerial Drones, LLC Key Attributes Report AttributeDetailsNo. of Pages150Forecast Period2024-2032Estimated Market Value (USD) in 2024$48.62 BillionForecasted Market Value (USD) by 2032$244.95 BillionCompound Annual Growth Rate22.4%Regions CoveredGlobal For more information about this report visit https://www.researchandmarkets.com/r/ievb8e About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Drones Market Drones Market Drones Market

Drones Industry Forecast to Generate Revenues Exceeding $244 Billion by 2032, at a CAGR of 22.4%: SZ DJI Technology Co, Intel Corp, and Advanced Technology Labs (Yuneec) Dominate

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