The global drone sensors market is expected to grow primarily
due to increasing applications in the industrial sector. Navigation
sub-segment is expected to flourish immensely. The market in the
North America region is predicted
to grow at a high CAGR by 2031.
NEW YORK, June 26, 2023 /PRNewswire/ -- Global
Drone Sensors Market Forecast Analysis:
As per the report published by Research Dive, the
global drone sensors market is expected to register
a revenue of $3,930.4 million by 2031
at a CAGR of 23.2% during the forecast period 2022-2031.
Segments of the Drone Sensors Market
The report has divided the drone sensors market into the
following segments:
- Sensors Type: inertial sensor, image sensor, speed and
distance sensor, position sensor, pressure sensor, light sensor,
current sensor, and others
-
- Image Sensor– Most dominant in 2021
The rising investments in security and surveillance in public
places all over the globe are expected to push the growth of this
sub-segment further.
- Platform Type: VTOL, and fixed-wing and hybrid
-
- Fixed-Wing and Hybrid– Highest market share in 2021
The growing demand for fixed wing drones for commercial flight
operations, surveying and mapping, imaging, product delivery, and
airborne remote sensing in the agricultural, environmental, and
defense sectors is expected to augment the growth rate of the
sub-segment in the 2022-2031 timeframe.
- Application: navigation, collision detection and
avoidance, data acquisition, and motion detection and air pressure
measurement
-
- Navigation– Most lucrative in 2021
The increase in use of GPS sensors and navigation systems to
provide precise information such as correct orientation and
distances is anticipated to push the market forward.
- End User: construction, media and entertainment,
precision agriculture, security and surveillance, defense, law
enforcement, transportation, and others
-
- Defense– Highest market share in 2021
The growing use of drones in defense sector particularly for border
security, counterinsurgency, and commercial property surveillance
is expected to augment the growth rate of the market in the
2022-2031 timeframe.
- Region: North America,
Europe, Asia-Pacific, and LAMEA
-
- North America– Significant market share in 2031
The high defense budget and the adoption of advanced technology in
various sectors are predicted to propel the market in the forecast
period.
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Dynamics of the Global Drone Sensors Market
The increasing demand and applications of drones in industrial
sector is expected to make the drone sensors market a highly
profitable one in the forecast period. Additionally, rising
military budgets, especially in developing countries is predicted
to propel the market forward. However, according to market
analysts, safety concerns and high cost of drones might become a
restraint in the growth of the market.
Increasing adoption of technologically advanced drone sensors is
predicted to offer numerous growth opportunities to the market in
the forecast period. Moreover, rising commercial applications of
artificial intelligence are presently found in high-altitude
military UAV autonomous flight types is expected to propel the
drone sensors market forward in the coming period.
COVID-19 Impact on the Drone Sensors Market
The Covid-19 pandemic disrupted the routine lifestyle of people
across the globe and the subsequent lockdowns adversely impacted
the industrial processes across all sectors. The drone sensors
market, too, was negatively impacted due to the pandemic. The
lockdowns and travel restrictions affected the global supply chains
which impacted the manufacturing of drone sensors which brought
down the growth rate of the market during the pandemic.
Check out COVID-19 Impact on Drone Sensors Market. Connect
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Key Players of the Global Drone Sensors Market
The major players of the market include
- Trimble
- ams AG
- Sentera Inc.
- Bosch Sensortec GmbH
- Infineon Technologies AG
- Slantrange
- Sparton NavEx
- PrescisionHawk
- TDK Corporation
- Raytheon
These players are working on developing strategies such as
product development, merger and acquisition, partnerships, and
collaborations to sustain market growth.
For instance, in January 2023,
Dedrone, an airspace security solutions provider, announced the
acquisition of Aerial Armor, a leading drone systems developer.
This acquisition is predicted to boost the market share of Dedrone
significantly in the coming period.
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What the Report Covers
Apart from the information summarized in this press release, the
final report covers crucial aspects of the market including SWOT
analysis, market overview, Porter's five forces analysis, market
dynamics, segmentation (key market trends, forecast analysis, and
regional analysis), and company profiles (company overview,
operating business segments, product portfolio, financial
performance, and latest strategic moves and developments.)
More about Drone Sensors Market:
- Drone Sensors: Driving Innovation in Drone Technology
through Sensor Excellence
- Growing Applications of Drone Sensors in the Industrial
Sector Predicted to Foster the Growth of the Global Drone Sensors
Market by 2031
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and
authenticity of the services, the firm provides the services that
are solely based on its exclusive data model, compelled by the
360-degree research methodology, which guarantees comprehensive and
accurate analysis. With an unprecedented access to several paid
data resources, team of expert researchers, and strict work ethic,
the firm offers insights that are extremely precise and reliable.
Scrutinizing relevant news releases, government publications,
decades of trade data, and technical & white papers, Research
dive deliver the required services to its clients well within the
required timeframe. Its expertise is focused on examining niche
markets, targeting its major driving factors, and spotting
threatening hindrances. Complementarily, it also has a seamless
collaboration with the major industry aficionado that further
offers its research an edge.
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