Market Overview:
Multirotor Drones Market Share Size is expected to reach USD 840.1 Million by 2030, registering a CAGR of 3% during 2020-2030.
The functions of multirotor UAV include image capturing and video recording in remote or hazardous places, which act as a driving factor for the Multirotor Drones Market Share growth. These UAVs consist of night vision cameras, which are majorly used for gathering intelligence, weather/traffic monitoring, media and entertainment purposes, environmental research, and agricultural/industrial applications. As a result of their functions, it is estimated that the Multirotor Drones Market Share would witness a significant growth in the forthcoming years.
The ability of such aerial vehicles to perform in extreme conditions is one of the key factors for their increased adoption in the commercial market. Moreover, due to the recent technological advancements, multirotor UAVs are widely used in the fields of mining, chemicals, to detect the nuclear and radioactive materials, and construction. Factors such as low operational costs, flexibility in operations, and low cost of ownership also influence the Multirotor Drones Market Share growth.
In addition, extensive R&D investment is another key reason that leads to the market growth. The rising threats of terrorist attacks, political and regional disputes, and border conflicts are boosting the demand for multirotor UAVs, across the globe. However, the market is adversely affected by factors such as air traffic management rules and limited battery lives or endurance of UAVs. economic downturn and defense budget cuts in some countries in North America and Europe hinder the market growth.
Key Players:
The key players in Multirotor Drones Market Share are Israel Aerospace Industries (Israel), AeroVironment, Inc. (U.S.), DJI Innovations (China), 3D Robotics, Inc. (U.S.), Microdrones GMBH (Germany), Coptercam (Australia), Cyberhawk Innovations Ltd. (U.K), Aeryon Labs Inc. (Canada), and Draganfly Innovations, Inc. (Canada).
Segmental Analysis
The scope of the study segments the global Multirotor Drones Market Share by its application, rotors, payload, and region.
- By Application
Military, Homeland security, Commercial
- By Rotors
Less than 10 and more than 10
- By Payload
Cameras, Electro-Optical Sensors, GPS, Lidar, Laser Designator, Others
- By Region
North America, Europe, Asia-Pacific, Middle East and Africa, Latin America
Regional Analysis
This study provides an overview of the Multirotor Drones Market Share, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
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