The autonomous drone platform market is projected to have a significant CAGR of 12.8% by 2033. According to FMI, the market is expected to expand from USD 8.3 billion in 2023 to USD 24.9 billion by 2033.
A negative reputation surrounds drones. Most people equate them with pricey military planes or little consumer toys. Recent research by FMI, however, indicates that real-world commercial uses actually influence how drones develop in the future.
Due to their increased capacity for efficiency and data analytics, drone use in corporate operations has expanded across a variety of industries in recent years. Since 2012, VCs have put USD 1.5 billion into drone industry-shaping businesses.
A number of drone operators are aggressively expanding their operations to satisfy the demands of various end users, which is likely to boost efficiency and industrial output. This is predicted to fuel the autonomous drone platform market growth during the forecast period.
The military and law enforcement employ unmanned aerial vehicles (UAVs) for warfare, distant observation, and investigative tasks. Additionally, using big data, artificial intelligence, and other technologies, the military collaborates with entrepreneurs to create autonomous UAV drone capabilities. These factors support the demand for autonomous drones platform throughout the anticipated time period.
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Drones can take the place of conventional ways of operation in many commercial operations. This development follows the Federal Aviation Administration's expansion of drone usage authorizations for commercial, non-hobbyist use.
Moreover, drones can save time and money, as they require fewer humans to operate and lack safety infrastructure. Additionally, they can improve data analytics, which helps businesses understand and forecast operating performance. The adoption of autonomous drones platform even opens up new business models and prospects in some sectors.
The majority of the value is created by services that operate and maintain drones for businesses. End-user businesses hand over to outside parties the operations, data management, and maintenance of drones. For instance, telecommunications companies may end up selling drone data communications services to direct drones and send the data they collect.
The vast commercial market potential, the falling costs of drone parts (such as sensors and batteries), and technological advancements in artificial intelligence (AI) and analytics are the primary motivators for investments in the autonomous drone platform market.
These factors have led to a steady increase in market share. For instance, as of June 2017, 52 trades totaling USD 216 million have been seen, surpassing the annual total of 2014 by 11 deals and USD 52 million in the market. At the current run rate, deals involving USD 506 million in investment are anticipated to reach a record high of 122.
Furthermore, it is anticipated that the market continues to rise as a result of the main players' growing investments in the drone business, like Amazon and Google.
| Attributes | Details |
|---|---|
| Autonomous Drone Platform Market CAGR (2023 to 2033) | 12.8% |
| Autonomous Drone Platform Market Size (2023) | USD 8.3 billion |
| Autonomous Drone Platform Market Size (2033) | USD 24.9 billion |
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Moreover, revenue generation in the market expanded at a 12.7% CAGR from 2018 to 2022. With a value of USD 7.5 billion in 2022, the market is seeing lucrative opportunities and is expected to reach USD 24.9 billion by 2033.
Earlier drones have a specified application in military operations, such as surveillance, reconnaissance, and target acquisition. These drones are equipped with advanced sensors and cameras to provide real-time data to military personnel. For instance, the USA Air Force is using MQ-9 Reaper drones for surveillance and intimidation of enemies.
However, sales of autonomous drone platforms are becoming common in the commercial sector due to technological improvements. Due to this, it is predicted that in the short run, demand for autonomous drone platforms is likely to expand quickly, reaching USD 11.7 billion by 2026.
Increased Demand for Miniaturization
Drones that can fly independently without human control have been developed as a result of the increased desire for drones to be miniature. Compared to manually controlled drones, autonomous drones are capable of doing tasks like surveillance, mapping, and delivery in a safer and more effective way.
Introduction of GPS and Sensors
GPS and other navigational sensors are major reasons behind the high sales of autonomous drone platforms. Due to the elimination of the necessity for a pilot, commercial users are now more likely to be interested in autonomous drone platforms.
Swarm Intelligence
Swarm intelligence uses AI to plan the actions of hundreds or thousands of robots, imitating the way some groups of animals cooperate, enabling drones to collectively compete in increasingly difficult jobs.
Currently, humans train collaborative robots, but that day is quickly approaching when robots are able to think by themselves and instruct one another. Drone squadrons can simultaneously perform specific jobs and cover large geographic areas. Swarm intelligence encourages the autonomous drone platform market share further.
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Agriculture Industry dominated the market with a share of 20.1% in 2021. It is expected to have a CAGR of 4.9% during the forecast period.
The increasing demand for drone-assisted agricultural automation and crop monitoring is providing new opportunities to autonomous drone platform manufacturers. They are employed in farming processes like crop scouting, crop mapping, crop spraying, and plant health monitoring, among others.
Increasing investments in agricultural technology, rising demand for precision farming, and government programs to encourage the use of autonomous drones are some of the major market growth drivers.
The availability of cutting-edge technologies like artificial intelligence, machine learning, and computer vision, as well as the increasing demand for crop monitoring and the need to lower the cost of farming operations, are all contributing to the autonomous drone platform market share.
Defense and military, where the adoption of autonomous drone platforms is at its highest, with a market share of 25.8% in 2021.
The need for autonomous drone systems in military and defense applications has considerably increased in recent years. Unmanned aerial vehicles (UAVs) that can complete missions with little to no human intervention are popular in this sector.
Additionally, the growing demand for unmanned aerial systems (UASs) for lengthy flights and the expanding use of UAVs for border surveillance, search and rescue missions, and military activities are anticipated to propel market growth.
The USA dominated the North American autonomous drone platform market with a share of 13.4% in 2021.
Over the projected period, it is anticipated that the United States would employ a more autonomous drone platform. This is brought on by the rise in demand for autonomous drone platforms for industrial, commercial, and government uses.
Additionally, the USA government has taken action to encourage the use of autonomous drone platforms for a range of tasks, including monitoring and surveillance, package delivery, and search and rescue operations. It is anticipated that rising research and development efforts in the area of autonomous drone platforms further fuel market expansion.
For example, the USA Air Force launched a project in 2020 that was centered on the creation of autonomous drone systems. The project's objective was to create a drone platform that could be utilized for surveillance and reconnaissance missions.
In addition, rising investments in the commercial and defense sectors are anticipated to fuel market expansion in North America.
The demand for autonomous drone platform has grown in Germany, with a share of 10.3% in 2021. This is attributed to the developments in drone technology, including obstacle avoidance systems and autonomous navigation capabilities.
In addition, the growing need for commercial drone services from the government and other public and private entities is anticipated to propel market expansion in Germany. DJI, Yuneec, senseFly, Parrot, and Autel Robotics are the market leaders in Germany for autonomous drone platform. To meet the needs of different consumers, these businesses provide a wide range of goods, including fixed-wing and multirotor platform.
The demand for inspection, monitoring, and delivery services using drones is likely to grow, which would help the Japanese market for autonomous drone platform expand. The industry is also expanding, with a share of 5.5% as a result of the military and defense industries' increasing desire for drones.
Moreover, the Japanese government has also made steps to encourage drone use in the nation. The U-space project, started by the government, proposes to use of drones in the logistics and transportation industries.
In order to aid in the development of drone-related goods and services in Japan, the government has also established the Drone Fund. SoftBank, NEC Corporation, Skycatch, Autel Robotics, and DJI are the leading companies active in the Japanese market for autonomous drone platform.
Major Corporate Ventures Primarily Support the Market Share and Encourage Start-Ups to Enter Into the Industry.
Most investments have not yet resulted in the anticipated exits or IPOs, as the industry is still relatively new. There have been 34 exits and IPOs since 2012, and more are anticipated in the following years.
With more than two-thirds of corporate deals during the previous five quarters occurring at the seed or series A level, the financings have likewise tended to favor early-stage businesses.
Moreover, corporate initiatives are seeking to penetrate particular markets or to gain expertise in particular fields, such as detect-and-avoid capabilities, which would give drones the "sense" to avoid collisions and safely complete their missions.
A few enterprises competing for market share become de facto standards, while the remaining businesses are squeezed out as a result of consolidation.
| Companies | Ventures |
|---|---|
| Qualcomm Ventures | The most active venture capitalist, having invested in six businesses thus far, including those involved in mapping, pipe inspection, distribution, 3D mapping, autonomous solutions, and business solutions. In order to advance their cellular technology inside drone operations and introduce their own robotics business solutions, Qualcomm also bought Kmel Robotics. |
| Google Venture | Google Venture has also made significant investments in 3D mapping, end-to-end commercial solutions, and long-range delivery. 63 drone-related patents from Google Ventures have been created, covering a range of drone capabilities. |
| Intel Venture | It has made investments in a hardware firm, an analytics solution, and an entire end-to-end commercial solution. Additionally, they bought two businesses: Ascending Technologies, which creates "sense and avoid" algorithms, and MaVinci, which creates flight planning software. These investments and acquisitions have helped Intel build its own commercial drone application solutions. |
To create more sophisticated features and capabilities, autonomous drone platform manufacturers work with software creators, hardware manufacturers, and other drone industry partners. By doing so, they are able to outperform the competition and provide their clients with better value.
The autonomous drone platform market is estimated to record a CAGR of 12.8% during the forecast period.
The autonomous drone platform market size is predicted to be valued at USD 24.9 billion by 2033.
The autonomous drone platform market share is valued at USD 8.3 billion in 2023.
North America is anticipated to hold the largest autonomous drone platform market share of 21.2% in 2021.
The agriculture industry is likely to dominate the autonomous drone platform market, with a share of 20.1% in 2021.
1. Executive Summary | Autonomous Drone Platform Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Platform Type 5.1. Containarized Landing Platform 5.2. In-Box Landing Platform 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Landing Pad 6.2. Recharging Station 6.3. Shelter & Maintenance 6.4. Data Storage 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Military & Defense 7.2. Commercial 7.3. Government 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Percepto 16.2. Aerobotics Ltd. 16.3. Unmanned Systems Technology 16.4. Skylark Drones 16.5. ModalAI 16.6. H3 Dynamics 16.7. Azur Drones 16.8. Plymouth Rock Technologies 16.9. Action Drone Inc. 16.10. Advanced Aircraft Company 17. Assumptions & Acronyms Used 18. Research Methodology
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Autonomous Drone Platform Market
