Global Drone Payload Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Drone Payload Market 2021 (Includes Business Impact of COVID-19)
Global Drone Payload Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights, which offers in-depth insights, revenue details, and other vital information regarding the global drone payload market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global drone payload market report has been segmented on the basis of type, end user, and region.
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The global Drone Payload market size was valued at USD $6.16 billion in 2020 and is projected to reach USD $21.69 billion by 2030, and is anticipated to expand at a CAGR of 12.55% over the forecast period from 2020 to 2030.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Overview:

Drone payload refers to certain weight carrying capacity of the unmanned arial vehicle. Payload includes weight of sensors, camera, or packages for delivery, which is calculated excluding the weight of the drone. Most of the drones are equipped with cameras and microphones as by manufacturers. But other payload such as various types of sensors such as infra-red sensors and biological sensors can be attached to the drone as per the requirement of the customers.

Dynamics:

Various types of sensors are attached to the drones in order to receive better data. Cameras regulated by sensors such as biological sensors are used to trace microorganisms, and meteorological sensors are used to measure humidity, temperature, wind, etc. Increasing adoption of various types cameras and sensors in drones in various applications is a major factor driving growth of the global drone payload market.

In addition, cameras attached to drones are also used for criminal investigation, surveillance, criminal prosecution in law enforcement. Increasing demand for drones as an alternative to manned aircrafts in order to reduce cost of aerial operations. Aforementioned are some of the other major factors fueling growth of the global market to a significant extent. Prominent features of small aircrafts with capacity of heavy payload which provide efficient data, and has lower chance of damage in harsh environments and conditions is a major factor expected to boost growth of the global drone payload market in the near future.

However, limitations regarding payload designs is a factor that may hamper growth of the global drone payload market. Nevertheless, increasing adoption of drones by commercial sector and increasing adoption of drones for delivery of packages and mails can create high revenue opportunities for players operating in the target market.

Segment Analysis:

On the basis of application segmentation, the synthetic aperture radar (SAR) segment is expected to dominate in the global market in terms of revenue in the near future. Growing adoption of synthetic aperture radar in defense sector for identification of potential threats is a factor supporting growth of this segment in the global drone payload market.

Regional Analysis:

Market in North America is expected to dominate in the global market in terms of revenue over the forecast period. Growing use of drones for surveillance, battel assessment, and other applications in defense sector is a key factor driving growth of the target market in this region. In addition, increasing adoption of drones in commercial applications is another factor expected to propel growth of the target market. Europe market is expected to account for second-highest share in terms of revenue in the global market, followed by markets in Asia Pacific, Middle East & Africa, and Latin America.

Global Drone Payload Market Segmentation:

Segmentation by type:

  
Laser Sensors
  
Electro-Optical/Infrared (EO/IR)
  
Cameras
  
Optronics
  
CBRN Sensors
  
Signals intelligence (SIGINT)
  
Synthetic Aperture Radar (SAR)
  
Electronic Intelligence (ELINT)
  
Communications intelligence (COMINT)
  
Others (Electronic Warfare (EW), Maritime Patrol Radar (MPR))

Segmentation by end user:

  
Commercial
  
Defense


Key Market Players included in the report:


  
3D Robotics, Inc. (3DR)
  
AeroVironment Inc. (U.S.)
  
Aeryon Labs Inc.
  
BAE Systems PLC
  
Elbit Systems Ltd. (Israel)
  
FLIR Systems Inc.
  
Israel Aerospace Industries (IAI)
  
Lockheed Martin Corporation (U.S.)
  
Northrop Grumman Corporation (U.S.).
  
Parrot Drones SAS
  
SZ DJI Technology Co., Ltd.
  
Textron Inc.
  
Thales Group


Below are the key development related to Drone Payload Market in 2020 and 2021.


January 2021: AE Industrial Partners Acquires UAV Factory, a Leader in the Tactical Unmanned Aerial Vehicle (UAV) and ISR Technology Markets. Marks New Platform for AEI in Unmanned Technology. AE Industrial Partners, LP ("AEI"), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, announced that it has acquired UAV Factory, a global leader in the tactical Unmanned Aerial Vehicle (UAV) and Intelligence, Surveillance, Reconnaissance (ISR) technology markets. UAV Factory will be a new standalone unmanned technology platform for AEI, as the firm looks to further invest in this fast growing market. Terms of the transaction were not disclosed. Founded in 2009, UAV Factory is a global leader in tactical UAV design and manufacturing, having delivered more than 300 aircraft to defense, intelligence, and commercial customers in more than 55 countries. The Company has a unique vertical integration strategy, whereby it designs and produces airframes, engines, stabilized EO/IR ISR payloads and related components in-house for the unmanned and manned aircraft industry. UAV Factorys Penguin C series UAV, which reliably delivers an industry-leading 20 hours of flight time, as well as its proprietary Octopus ISR gyro-stabilized sensors, are widely used by customers globally for a variety of critical ISR missions. UAV Factory is based in Riga, Latvia, with a second location in Bend, Oregon. Source