Drone-in-a-Box Solutions Market to Reach $5.0 Billion, Globally, by 2033 at 16.8% CAGR: Allied Market Research
Wilmington, Delaware, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Drone-in-a-Box Solutions Market by Product (Hardware and Software), by Type (Single rotor and Multirotor), Application (Commercial, Residential and Military): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the drone-in-a-box solutions market was valued at $1.1 billion in 2023, and is estimated to reach $5.0 billion by 2033, growing at a CAGR of 16.8% from 2024 to 2033.
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Prime determinants of growth
The global drone-in-a-box solutions market is experiencing growth due to growing demand for drones as a service, the rising popularity of online retail and subscription models and the increasing use of drones for personal use. Moreover, increased use in the agriculture sector and technological advancement in drone technology offer remunerative opportunities for expanding the global Drone-in-a-Box Solutions market.
Segment Highlights
On the basis of product, the hardware segment accounted for a dominant market share owing to the core component of drone-in-a-box-solution consisting of a frame, motors, propellers, batteries, cameras, communication equipment and other hardware, which accounts for the largest proportion of the overall price of a drone. Moreover, as modern drones utilize advanced materials such as carbon fibre and aerospace-grade aluminum, which are both expensive and difficult to manufacture, they significantly increase the cost of drone-in-a-box-solution hardware.
Based on type, the multirotor drone segment dominated the market as multi-rotor drones are highly versatile and can be used for a variety of applications, including aerial photography and videography, agricultural monitoring, infrastructure inspection, search and rescue operations, and recreational use. Additionally, multi-rotor drones can carry a diverse range of payloads, from cameras and sensors and other small equipment. Additionally, multi-rotor drones are generally easier to control compared to other types of drones, such as fixed-wing or single-rotor.
On the basis of application, the commercial segment dominated the market share owing to technological advancements in drone technology, such as the development of GPS navigation, camera quality, and automation, which have made drones more efficient and accessible for commercial purposes. Similarly, the mass production of drones resulted in driving down costs, making them affordable for small and medium-sized enterprises (SMEs) and even individual consumers.
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Regional Outlook
Asia-Pacific region witnessed a significant surge in the adoption of drones across various industries, driven by the need for enhanced safety, efficiency, and cost-effectiveness. This growth is particularly evident in sectors such as oil and gas, construction, agriculture, and infrastructure management. The primary reason for the growth of drones in the region is the growing mining and petroleum industry and the rapid expansion of drones for surveillance. Similarly, drones are extensively used in the agriculture sector and for surveillance purposes across various industries. Moreover, technological advancements, supportive regulatory frameworks, and increasing awareness of the benefits these drones offer are further helping in the growth of the market.
Players:
- Airobotics
- Atlas Dynamics
- Azur Drones
- Easy Aerial
- American Robotics
- DroneHive
- Asylon
- Antwork
- Percepto
- H3 Dynamics
The report provides a detailed analysis of these key players in the global Drone-in-a-Box Solutions market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- On December 3, 2023, Atlas Dynamics announced the opening of new production facility in Ukraine in collaboration with the Ukrainian Ministry of Defence. Since the beginning of the Russia-Ukraine war, the company is undergoing a rapid expansion. Previously, its efforts were on increasing global exports, but its attention has now shifted entirely to Ukraine.
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