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Multirotor Drones Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 05:26 AM, 27th September, 2017 REP-ID-361 Category: ICT & Electronics

Multirotor Drones Market Overview

Multi-rotor or multicopter refers to the aerial vehicle mechanism. Multi-rotor drone is a type of rotorcraft consisting of more than two rotors/propellers. Apart from this, multi-rotor is a highly unstable rotorcraft and it requires aka flight controller device for stable flight. The flight motion of multi-rotor is controlled by speeding or slowing multiple downward thrust propellers. There are different types of multi-rotors are present in market such as tricopters, quadcopters, hexacopters and octocopters. Multi-rotor drones have a wide range of application such as aerial photography/videography, mapping & surveying, agriculture, crop spraying, asset inspection and payload.

Market Size & Forecast

Global multi-rotor drones market is anticipated to witness a robust growth over the forecast period 2017-2024. Global multi-rotor drone market stood at valuation around USD 12.6 Billion in 2016. Multi-rotor drone market is expected to behold this positive growth in near future owing to their increased application in end-use industries.

In terms of regions, the global multi-rotor drones market is mainly segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America region. Among all these regions, North America accounts for the highest market size followed by Europe. Due to economic decline and budget cuts, market of North America and Europe region is anticipated to witness a slow growth rate during the forecast period 2017-2024.

multirotor drones

Asia Pacific multi-rotor drones market is expected to grow at highest CAGR during the forecast period. High investment in research and development sector in emerging economies such as China and India has given boost to the market of multi-cotor drones in Asia Pacific region. Further, Middle East & Africa and Latin America regions are also expected to witness a satisfactory growth in near future due to high investment in R&D sector in these regions.

Market Segmentation

Our-in depth analysis of the global multi-rotor drones market includes the following segments:

By Product Type

  • Tricopters
  • Quadcopters
  • Hexacopters
  • Octocopters
  • Others

By Application

  • Aerial Photography/Videography
  • Agriculture
  • Mapping & Surveying
  • Real State Photography
  • Payload Carrying
  • Bird Control
  • Product Delivery
  • Aviation
  • Search and Rescue
  • Marine Mission
  • Others (Live Streaming Events, Crop Spraying etc.)

By End User

  • Defense & Security
  • Shops
  • Entertainment & Media Companies
  • Industries
  • Commercial Places
  • Others

By Region

Global multi-rotor drones market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and North Africa (GCC, North Africa, South Africa and Rest of Middle East) Market Size and Y-O-Y Growth Analysis

Growth Drivers & Challenges

Multicopter provides revolutionary abilities to do difficult things or to go somewhere, where a person has never been before. Over the past few years, it has been observed that the unprecedented abilities of multi-rotor drones have attracted consumers towards it across the globe. Increasing demand for multi-rotors in non-military sector such as agriculture, environment inspection, sports coverage, entertainment & media industries, parcel delivery and others is a major growth driver of global multi-rotor drones market. Additionally, high adoption rate of non-military multi-rotor drones is expected to foster the growth of global multi-rotor drones market in near future. Low maintenance and affordable cost of drones are some of the key factors which are expected to propel the demand for multi-rotor drones in near future.

Increasing use of multi-rotors drones in law enhancement and other military activities is one of the major factors driving the growth of multi-rotors drone market. Moreover, increasing terrorism activities in countries such as India, Spain, Israel and others have made the government of these countries more concerned about the enhancement of defense and security sector. The adoption of multi-rotor in defense & security sector is expected to increase the demand for multi-rotor drones over the forecast period.

However, budget cuts of defense sector are a major factor dampening the growth of the global multi rotor drone market. Factors such as limited flight sufferance of multi-rotor drones and their payload capacity are some of major challenges which are restraining the growth of market. Apart from this, high price of multi-rotors is a major factor which is slowing down the growth of global multi-rotor drones market.

Key Players

  • AeroVironment Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • DJI Innovations Inc.
  • MicroDrones GmBh
  • Lockheed Martin LMT
  • PrecisionHawk Inc.
  • 3D Robotics
  • Aibotix GmBh
  • Dragonfly Innovations
  • Coptercam
  • Cyberhawk Innovation Ltd.

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The global multi-rotor drones market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Rotor Type Market Size & Y-O-Y Growth Analysis
  • By End User Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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