The Multi-Rotor Drone Market is expected to be valued at USD 8.49 Billion in 2027 from USD 1.86 Billion in 2019, registering a CAGR of 20.8% through the forecast period. The significant elements stimulating the market growth are the accelerated adoption of multi-rotor drones by the defense bodies and intelligence bureau, newer use cases of multi-rotor drones in commercial applications, and rapid advancement in battery and camera technology, among others.
Moreover, the escalating cross border conflicts, increasing number of existing military monitoring and controlling technology, upgradation of the existing tech according to the specific requirements, and asymmetric warfare and inter-country border conflicts are significantly contributing to the market growth. The capability of multi-rotor drone to support heavy and enormous quantities of payload increase the application of the drones for many end-users. Multi-rotor drones are now a preferable choice for inspections and payload carriers, wherein a high level of precision maneuvering and ability to fly in different directions in challenging places and a particular target for a more extended period is required.
The global market for Multi-Rotor Drone is forecast to be highly competitive and consolidated with the presence of several small, medium, and large corporations. The augmenting demand for technological development and a more diverse product portfolio is predicted to create enormous potential for the established and novice players of the market in the forecast timeframe.
Key Highlights from the Report:
- The maneuverability of multi-rotor drones and their ability to confer accurate vertical take-off and landing (VTOL) as compared to fixed-wing drones is increasing their application in commercial industries.
- The camera sub-segment is predicted to dominate the industry in the forecast timeframe owing to its ability to capture detailed images in higher pixels. The increasing investment in R&D for advanced camera systems and a higher emphasis on their modification has contributed to the remarkable growth of the market. The segment occupied a 41.2% market share in 2019.
- The military sub-segment is a prominent revenue-generating segment of the market owing to their higher count of usage and increasing funding to expand the scope of multi-rotor drones and its derivatives. Moreover, the increasing focus on the UAV information carriers within the defense and homeland security bodies is contributing to the segment’s growth.
- The Asia Pacific region is predicted to be the fastest-growing market in the global landscape during the projected period. The augmenting investment in defense and law enforcement bodies and the increasing budget allocation for the defense sector in several APAC countries like China and India is adding to the market growth. Moreover, escalating cross-border conflicts, asymmetric warfare, terrorist activities, preparation for future combats, and higher economic development are expanding the scope of the market in the region.
- Major companies operating in the market include DJI, Mota Group, Inc., AeroVironment, Inc., Skyrocket Toys LLC, Hubsan Technology Company Ltd., Guangdong Cheerson Hobby Technology Co., Ltd, Prox Dynamics, Aerix Drone, Acumen Robot Intelligence (ARI), and Microdrones, among others.
- Drone Aviation Holding Corp., in 2019, merged with ComSovereign Corp., a U.S-based group developing 5G telecommunications radio, power systems, and silicon photonics for the next generation of global networks.
For the purpose of this report, Emergen Research has segmented the Global Multi-Rotor Drone Market on the basis of payload, end-user, price range, and region:
Payload Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
- Tracking Systems
- Control Systems
End-User Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Price Range Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Regional Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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