Small UAV Market is Estimated to Witness High Growth Owing to...

Small UAV Market is Estimated to Witness High Growth Owing to Advancements in Miniaturization of Components

Posted 2024-10-23 06:43:35

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The small UAV market comprises mini and micro drones that can be deployed for various civil and commercial applications including photography, videography, surveying, delivery and inspection. With advancements in miniaturization of components such as cameras, sensors and computing systems, small unmanned aerial vehicles are finding increased usage in commercial sectors. Small drones offer advantages such as economical operation, ease of deployment and portability compared to larger drones. The rising demand for affordable aerial solutions from industries like agriculture, infrastructure, energy and utilities is propelling the small UAV market.

The Global small UAV Market is estimated to be valued at US$ 6.27 Billion in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 To 2031.

Key Takeaways
Key players operating in the small UAV market are DJI, Parrot Drones, 3D Robotics, Intel (AscTec), Xaircraft, Microdrones and AeroVironment.
Key opportunities in the Small UAV Market Demand include precision agriculture, crop monitoring, infrastructure monitoring, inspections and delivery applications. Miniaturization of components is enabling the development of smaller drones for various commercial uses.

Technological advancements such as development of micro aerial vehicles weighing less than 100 grams, advanced sensors, computer vision systems and artificial intelligence capabilities are fueling the demand for small UAVs.

Market Drivers
The high adoption of small drones across industries for commercial applications is one of the key drivers of the market. Increasing investments by companies in R&D to develop advanced yet affordable drones is also boosting the small UAV market growth. The development of regulatory frameworks to enable BVLOS operations will further support commercial usage of small drones.

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