"Small Drones Market - Global Forecasts to 2020" Published
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[USPRwire, Fri Mar 04 2016] Small Drones Market by Application (Defense, Commercial), Size (Micro, Mini, Nano), Payload (Sensor, Telemetry System, Camera, Videoscreen, NBC Detection, SAR, Others), Type, Propulsion Systems, & Region - Global Forecasts to 2020
"Increasing need for operational efficiency is a major factor for increasing procurement of small drones globally"
The global small drones market is expected to grow from an estimated USD 5.80 billion in 2015 to USD 10.04 billion by 2020, at a CAGR of 11.6% from 2015 to 2020. The market for small drones is driven by critical factors, such as increasing demand for operational efficiency for surveillance and reconnaissance, rising commercial applications for packet delivery and monitoring, and minimized human intervention in combat and other risky operations, among others.
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"Commercial segment to witness higher growth during the forecast period"
The key applications considered for the market study are commercial and defense.
The commercial segment market is estimated to grow at the highest CAGR during the forecast period, among defense application. Small Drones are currently being used for several commercial applications, such as crop monitoring, packet delivery, surveying and data monitoring, among several others.
"North America dominates; Asia-Pacific to grow at the highest rate"
The North American region dominates the global small drones market in 2015, and is expected to continue its dominance during the forecast period of 2015 to 2020. The U.S. is considered to be the largest developer, operator, and exporter of small drones globally, thereby resulting in the large share of the North American region in the global small drones market.
The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the fact that more than 20 nations in the Asia-Pacific currently have active small drones programs, including China, India, Japan and South Korea, among others. With rapid advancements and adoption of defense technologies in the region, the small drones market in the Asia-Pacific is projected to grow significantly during the forecast period (2015 to 2020).
"Break-up of profile of primary participants for the Unmanned Ground Vehicle Market"
* By Company Type - Tier 1 - 35 %, Tier 2 - 45% and Tier 3 - 20%
* By Designation - C level - 35%, Director level - 25%, Others - 40%
* By Region - North America - 45%, Europe - 30%, APAC - 20%, RoW - 5%
The major companies profiled in the report include Northrop Grumman (U.S.), Lockheed Martin (U.S.), AeroVironment, Inc. (U.S.), Parrot SA (France), DJI (China), QinetiQ Group Plc. (U.K.), and XAircraft (China), among others.
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