PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1483024
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1483024
The drone sensor market is expected to grow from USD 1.4 billion in 2024 to USD 2.5 billion by 2029, at a CAGR of 12.1% during the forecast period. The demand for drone sensors is increasing due to the rising use of drones for payload delivery. Technology companies and shipping logistics operators want to use drones to deliver packages and remain cognizant of hundreds of miles of highway and power lines.
Scope of the Report | |
---|---|
Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | By Sensor Type, Platform, Application, End Users and Region |
Regions covered | North America, Europe, APAC, RoW |
"The image sensor to grow with significant CAGR from 2024 to 2029."
An image sensor converts the variable attenuation of light waves into signals. Image sensors are used in drone cameras for various purposes, such as thermography, the creation of multi-spectral images, sensor arrays for X-rays, and other highly sensitive arrays for astronomy. Image sensors play a crucial role in navigation and data acquisition for drones, enabling them to perceive and understand their surroundings, capture images and videos, and gather essential data for various applications.
"The precision agriculture industry accounts for the second largest market size of the drone sensor market in 2023".
Drones play a crucial role in precision agriculture across the globe, serving various purposes throughout the crop lifecycle. They assist in tasks ranging from soil analysis and seed planting to optimal harvest timing. Equipped with sensors like multispectral, near-infrared (NIR), and LiDAR, along with advanced camera systems, drones offer thermal and multispectral sensing capabilities. This aids in scanning fields and identifying anomalies beyond human perception or basic aerial imagery. Precision agriculture techniques facilitated by drone sensors help farmers in making data-driven decisions that optimize crop yields while minimizing inputs such as water, fertilizers, and pesticides. By precisely targeting areas requiring treatment or intervention, farmers can improve efficiency, reduce waste, and enhance overall productivity.
"The fixed wing platform type to grow with highest CAGR from 2024 to 2029."
Fixed-wing commercial UAVs use wings similar to that of airplanes. These drones are very efficient as they use energy only to move forward and not to hold themselves up in the air. Fixed-wing drones offer increased flying time, longer range, and higher speed than VTOL drones. Fixed-wing drones have more efficient aerodynamics, better payload capacity, and improved endurance, making them efficient for carrying multiple onboard sensors (multispectral cameras, thermal imaging, and LiDAR). Fixed-wing drones are used for aerial surveys and mapping applications over large areas such as fields and farms. These are also widely adopted for precision agriculture applications.
"UK is expected to be the largest market for drone sensors by 2029 in the European region."
The UK has a vibrant drone industry ecosystem comprising startups, SMEs, research institutions, and multinational corporations. Commercial opportunities in drone services, software development, and sensor manufacturing attract investment and talent to the UK, driving innovation and growth in the drone sensor market. The UK Civil Aviation Authority (CAA) regulates the use of unmanned aircraft in the country based on their weight and/or application. Currently, the government is facing uncertainties owing to the legal issues related to the use of 194 UAVs in various applications. There is a high demand for drones from the media & entertainment industry in the UK as an increasing number of drones are used for aerial cinematography and photography.
Breakdown of primaries
The major players include TE Connectivity (US), Drone Nerds Enterprise (US), RTX (US), Trimble Inc. (US), InvenSense (US), Bosch Sensortec GmbH (Germany), Sparton (US), ams-OSRAM AG (Austria), Teledyne FLIR LLC. (US), Hottinger Bruel & Kjaer (HBK) (Denmark), LeddarTech (Canada), YOST LABS (US), SBG SYSTEMS (France), Velodyne Lidar Inc. (US), Sony Semiconductor Manufacturing Corporation (Japan), QuestUAV (UK), Sensirion AG (Switzerland), Aerotenna (US), Swift Navigation Inc. (US), Unmanned Experts Inc. (US), Dynetics, Inc. (US), Kespry (US), GRIFFON AEROSPACE (US), MICRODRONES (Germany), and Autel Robotics (US).
The report describes detailed information regarding the key factors such as drivers, restraints, challenges, and opportunities driving the market's growth. The report also details technology trends, trade data, and patent analysis. This research report categorizes the drone sensor market based on sensor type, application, platform type, end-user industry, and region. A detailed analysis of the major players includes insights into their business overviews, products offered, and significant strategies, including new product launches, deals (acquisitions, partnerships, agreements, and contracts), and others (expansions), and recession impact on the drone sensor market.
Reasons to Buy This Report
The report aims to provide stakeholders with accurate revenue estimates for the drone sensor market and its subsegments. By offering insights into the competitive landscape, stakeholders can gain a deeper understanding and strategically position their businesses, formulating effective go-to-market strategies. Additionally, the report assists stakeholders in grasping the market dynamics by outlining key drivers, restraints, opportunities, and challenges, thereby enabling informed decision-making and a better understanding of market trends.