SEOUL-- March 04, 2022 -- According to the Fact.MR Latest Analysis, The Drone Market is Expected to reach US$ 30 Bn by the end of 2022, anticipated to experience an impressive 25% CAGR from 2022-2032 to reach US$ 279 Bn by the end of the aforementioned forecast period.

Rising Demand For Drones For Surveillance & Telecommunications Industry In Asia Pacific Drives The Market Growth

The Asia-Pacific market is expected to grow as a result of recent changes in drone regulations in several countries across the region. New restrictions for drone makers and users were recently established by the Japanese government, which may help the Japanese drone business in the future. The government has made steps to strengthen the country's commercial drone industry, announcing intentions to create a streamlined registry system by 2022 in order to expand drone prospects. Furthermore, Australia is a key industry center in Asia-Pacific, where BVLOS testing is becoming increasingly important. Recent changes in drone regulation in a number of countries in the region are expected to boost market growth.

Key Takeaways from the Market Study

· By product, military drones to accumulate 55% market revenue in 2022

· Construction industry to emerge as an opportunistic application sector, expanding at an 18% CAGR

· The U.S to account for nearly 2 out of 5 drone sales in 2022 and beyond

· China to emerge as the most opportunistic market, capturing a revenue share of 45%

· Global drone market is expected to be valued at US$ 30 Bn by the end of 2022

“Increasing global uncertainty resulting out of an international arms race is prompting nations to strengthen existing military capabilities to ensure national security, providing immense scope for the drones market”, says a Fact.MR analyst

The market insights of Drone will improve the revenue impact of businesses in various industries by:

· Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Drone Market.
· Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Drone market and offers solutions.
· Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints.
· Provides an understanding of disruptive technology trends to help businesses make their transitions smoothly
· Helping leading companies make strategy recalibrations ahead of their competitors and peers
· Offers insights into promising synergies for top players aiming to retain their leadership position in the market & supply-side analysis of Drone market.

Competitive Landscape

The drone business is expanding rapidly, with industry leaders like as DJI and Parrot pursuing autonomy in all of their drone features and functions. Frontrunners in the drone sector appear to be focusing on R&D and collaborative collaborations.

· DJI Technology Co. Ltd, a Chinese business, continues to dominate the drone industry landscape across all drone product categories, including software, drone aircraft, and payload. Its brisk growth can be ascribed to its unique product development and enterprise channel relationships.

· For example, in 2018, the corporation produced two enterprise drone products aimed at the industrial space, known as the Phantom 4 RTK and the Mavic 2 Enterprise.

Prominent Key players of Drone Industry are:-

· SZ DJI Technology Co. Ltd (DJI)
· The Boeing Company (Insitu)
· Terra Drone Corporation
· Intel Corporation
· BirdsEyeView Aerobotics
· Parrot Drones SAS
· Yuneec
· Delair SAS

Key Questions Answered by the Report

· The report offers insight into Drone market demand outlook for 2022-2032

· The market study also highlights projected sales growth for Drone market between for 2022-2032

· Drone market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

· Drone market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others