According to Fact.MR, a supplier of market research and competitive information, the global market for drone accessories is predicted to reach more than US$ 116 billion by the end of 2032, growing at an amazing CAGR of 20.8% over the assessment period of 2022–2032.
The drone accessory industry will experience tremendous growth and a significant shift as a result of the military drone accessories segment. Technological developments like reduced noise levels and longer battery lives are opening up the drone business and, by extension, the drone accessory sector. Additionally, the market for drone accessories is expanding due to the steadily growing need for drones for transportation and logistics.
Drones are being used more and more in the mining and construction industries to scan terrain, reduce safety concerns, and monitor development. Global prospects for drone accessory businesses are being created by favourable government laws for drones.
The main driver of drone adoption among agronomists and farmers is corporate-sponsored precision agriculture. Agriculture is using more IoT. Due to increased efficiency brought about by the deployment of technologies capable of quick analysis of data insights, the need for drone accessories for agricultural applications is anticipated to expand steadily. About 13.9% of all drone accessory sales in 2021 were for agricultural drone accessories. In turn, rising need for precision agriculture will fuel market expansion for drone accessories throughout the ensuing years.
Top drone accessory producers are putting a lot of effort into developing products that are constantly innovative in order to address global wants and concerns.
In the drone accessory market, major players employ a competitive price strategy. To increase revenues, businesses are forming alliances and collaborating with end-use sectors and governments.
The strong demand for contemporary drone accessories has led to market participants broadening their product lines. Market players are seeking to strengthen their regional bases while concentrating on R&D and allocating their resources accordingly.
- In December 2021, DJI introduced the DJI AGRAS T20, a new agricultural drone in their crop monitoring & protection series. This drone has eight nozzles and high-volume pumps that can spray six litres per minute and carry a 20 kilogramme payload.