Small Uav Market is Driven by Rising Military Expenditures
The small UAV market provides a diverse range of micro, mini and tactical Unmanned Aerial Vehicles (UAVs) for military and civilian applications. These compact aerial platforms come equipped with electro-optical/infrared cameras, wireless video downlinks and GPS systems to provide aerial intelligence, surveillance and reconnaissance capabilities. The growing demand for small drones in commercial sectors such as agriculture, insurance, photography and filmmaking has also boosted the market prospects of small UAVs worldwide.
The Global small UAV Market is estimated to be valued at US$ 6.67 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the small UAV market are Northrop Grumman, Bayer Tech, DJI, Parrot Drone SAS, Israel Aerospace Industry Ltd., AeroVironment, Inc., Lockheed Martin Corporation, Teledyne FLIR LLC, BAE Systems, Elbit Systems Ltd., AIRBUS, Textron Inc., Autel Robotics, Yuneec, PowerVision Inc., Teledyne Technologies Incorporated , Guangzhou Walkera Technology Co Ltd, Yuneec , Turkish Aerospace Industries, and Others. The growing demand for efficient security and surveillance measures in border areas and public infrastructure has augmented the sales of small drones across major economies. Various government agencies worldwide are procuring compact Small Uav Market Trends for critical applications such as firefighting, disaster management and law enforcement operations. The increasing global footprint of firms operating in the small drone segment through innovative product launches and strategic collaborations with domestic integrators will further consolidate their market presence.
Market Drivers
The primary driver propelling the small UAV market is the rising military expenditures of major economies to modernize their defense operations. Developed nations like the US, China and European countries are extensively utilizing micro air vehicles for ISR, precision strikes and combat support missions. The growing procurement of small tactical UAVs by militaries is a major revenue generator for established manufacturers. Additionally, the burgeoning popularity of civilian drones for industrial, agricultural and leisure applications has stimulated overall demand. The development of autonomous navigation, collision avoidance and payload integration technologies will augment the scope of small UAV missions in the coming years.
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