PUBLISHER: The Business Research Company | PRODUCT CODE: 1464140
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464140
Nano UAVs, or unmanned aerial vehicles, are small and lightweight drone systems designed for diverse applications such as reconnaissance, surveillance, data collection, and monitoring. These compact UAVs offer practical solutions in environments where larger drones or conventional aircraft may not be suitable. Typically, they are characterized by dimensions of less than 15 cm and a weight below 100 grams. Due to their diminutive size, nano UAVs are particularly well-suited for search and rescue missions, excelling in their ability to maneuver easily through challenging terrains and confined spaces.
The primary categories of nano UAV products include fixed-wing, rotary-wing, and others. Fixed-wing UAVs are characterized by their fixed wings, resembling traditional airplanes, and are specifically designed for stable and efficient flight, making them suitable for applications such as surveillance and reconnaissance. These UAVs come in various class types, including small unmanned aerial vehicles (UAV), tactical unmanned aerial vehicles (UAV), strategic unmanned aerial vehicles (UAV), and special-purpose unmanned aerial vehicles (UAV). They utilize different propulsion systems, including hydrogen cells, solar cells, and lithium-ion batteries. Fixed-wing nano UAVs find applications in diverse sectors, including civil and commercial, military, homeland security, and others.
The nano UAV market research report is one of a series of new reports from The Business Research Company that provides nano UAV market statistics, including nano UAV industry global market size, regional shares, competitors with nano UAV market share, detailed nano UAV market segments, market trends, and opportunities, and any further data you may need to thrive in the nano UAV industry. This nano UAV market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The nano UAV market size has grown exponentially in recent years. It will grow from $1.53 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth observed in the historical period can be attributed to various factors, including military operations, counter-terrorism efforts, border surveillance activities, law enforcement operations, and disaster response initiatives. These applications have driven the demand for nano UAVs, as their compact size and maneuverability make them valuable tools in addressing the needs of military and security-related operations.
The nano UAV market size is expected to see exponential growth in the next few years. It will grow to $5.35 billion in 2028 at a compound annual growth rate (CAGR) of 28.4%. The anticipated growth in the forecast period can be attributed to the expansion of nano UAV applications into commercial uses, such as surveillance for critical infrastructure, emergency response, and healthcare support. Additionally, the growth is expected in smart cities and urban planning applications, along with environmental monitoring. Key trends in the forecast period include the integration of autonomous systems, ongoing miniaturization and payload innovation, increased adoption in commercial sectors, the development of swarm technology, and a focus on energy efficiency and extended endurance in nano UAVs.
The surge in defense budget allocations is anticipated to drive the expansion of the nano UAV market in the coming years. A defense budget, representing the financial allotment specifically designated for defense and military purposes within a government's overall budget, holds significance for the procurement of military equipment, including nano UAVs. These smaller unmanned aerial systems find applications in defense operations, intelligence gathering, surveillance, reconnaissance, and target acquisition. Notably, with an increased defense budget, governments may issue contracts and orders for nano UAVs, presenting growth opportunities for manufacturers in this sector. In April 2023, the Stockholm International Peace Research Institute reported a global increase of 3.7% in military expenditure in 2022, reaching a record high of $2,240 billion. Europe experienced a notable rise of 13% in military spending during the same period. The US witnessed an 8.8% nominal increase in military spending, reflecting a growing trend that positively impacts the nano UAV market.
Leading companies in the nano UAV market are investing in innovative product development, exemplified by the introduction of 4K nano drones. These compact unmanned aerial vehicles feature 4K resolution cameras for high-quality video recording. In January 2024, IZI, an India-based consumer electronics company, launched the MINI X drone, weighing a mere 249 grams. The drone incorporates a premium CMOS sensor, capturing impressive 20MP images and delivering smooth videos. Boasting a 4 km live video transmission range, GPS/GLONASS technology for precise navigation, and versatile flight modes, the MINI X caters to professional-grade aerial photography and videography. It offers a lightweight design and is available in Standalone and Fly More Combo versions, enhancing flight time with multiple batteries. Controlled via the IZI Sky Eye App on mobile devices, the MINI X exemplifies the company's commitment to cutting-edge nano UAV technology.
In May 2021, Teledyne Technologies Incorporated, a renowned US-based electronics and communication products company, acquired FLIR Systems Inc. for $8.2 billion. This acquisition has positioned Teledyne as a leading provider of imaging technologies, expanding its portfolio to cover X-ray through infrared spectrums. The acquisition also enhances Teledyne's capabilities in unmanned systems and offers a comprehensive range of imaging solutions across various domains. FLIR Systems Inc., a key player in the nano UAV market, specializes in producing nano UAVs designed for surveillance at the platoon and small unit levels for military personnel.
Major companies operating in the nano uav market report are The Boeing Company, Lockheed Martin Corporation, Intel Corporation, Northrop Grumman Corporation, Thales Group, Textron Inc., Elbit Systems Ltd., Teledyne Technologies Inc., Saab AB, Israel Aerospace Industries Ltd., DJI (Da-Jiang Innovations) Technology Co. Ltd., AeroVironment Inc., Yuneec International Co. Ltd., Parrot SA, Microdrones GmbH, 3DR (3D Robotics), senseFly Ltd., Flyability SA, Delair Tech SAS, PrecisionHawk Inc., Aeryon Labs Inc., Kespry Inc., Nimbus Maps Ltd., Altavian Inc., Quantum Systems GmbH
North America was the largest region in the nano UAV market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nano uav market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the nano uav market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The Nano UAV market consists of sales of surveillance drones, agricultural drones, payload and sensors, batteries and power systems, and flight control systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
Nano UAV Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nano UAV market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nano UAV ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The nano UAV market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.