Drone Sensors Market Size Projected to Generate a Revenue of $3,930.4 Million by 2031Download Sample Reports Overview
The Global Drone Sensors Market is predicted to be valued at $3,930.4 million by 2031, surging from $506.6 million in 2021, at a CAGR of 23.2%.
Impact Analysis of COVID-19 on the Drone Sensors Market
The COVID-19 pandemic led to severe disruptions that affected the demand, supply, import-export, and availability of drone sensors across end-use industries. In more than 200 countries around the world, the COVID-19 pandemic impacted millions of people. The pandemic disrupted a number of supply lines due to severe lockdowns imposed by governments of various countries. These restrictions caused disturbances in the supply and demand, thereby leaving an impact on the global economy and commerce volume. Drones were frequently used for sanitization, medical transportation, distribution of blood samples, and public surveillance during the lockdowns. The demand for drones in both the commercial and governmental sectors rose globally due to their effectiveness in no-contact delivery.
Global Drone Sensors Market Analysis
The high demand for advanced instruments has contributed to the widespread use of unmanned systems. However, drones are utilized in almost every sector, including construction, media and entertainment, precision agriculture, security and surveillance, law enforcement, transportation, traffic and weather monitoring, weddings, and even delivery of services. The growing demand for drones in civil and commercial applications is expected to drive the global drone sensors market size during the forecast period.
One of the major challenges to the worldwide drone sensor industry expansion is the safety and privacy issues. Drones can pose a significant risk to airplanes since they may be sucked into aircraft turbines if they are in close proximity, inflicting substantial damage to the propulsion systems. The drones might be hijacked by interfering with the frequency-hopping sensors used in radio-communication devices. Drone safety and privacy issues are projected to hinder the drone sensors market growth during the forecast period.
The global drone sensors market is expanding owing to rising demand for drones for mapping, precise positioning, and high-resolution imaging. Another reason driving the drone sensors market share is the growing use of drones in the agricultural sector for crop growth analysis. Drones are used in the defense industry for a variety of purposes, including intelligence gathering, surveillance, monitoring, search and rescue operations, and others. These uses, along with rising military spending, particularly in developing countries, are anticipated to support the market expansion globally. The growing use of drones in the media entertainment sector is expected to create several growth opportunities for the key players operating in the market.
Global Drone Sensors Market, Segmentation
The drone sensors market is segmented on the basis of sensor type, platform type, application, end user, and region.
The sensor type segment is further classified into inertial sensor, image sensor, speed and distance sensor, position sensor, pressure sensor, light sensor, current sensor, and others. Among these, the image sensors sub-segment accounted for a dominating market share in 2021. A sensor that sends information needed to create an image is known as an image sensor or imager. The increase in expenditure on security and surveillance in public places all over the globe, as well as the increase in use of technologies for improving anti-terror equipment and reducing security breaches, are likely to boost the image sensor segment growth.
The platform type segment is further classified into VTOL, and fixed-wing and hybrid. Among these, the fixed-wing and hybrid sub-segment accounted for a dominating market share in 2021. Fixed wing and hybrid drone sensors are used in a number of industries, including real estate, mining, oil & gas, and agriculture. They are used in farming for surveying, crop monitoring, and land mapping. Drone sensors are now used in the commercial sector to deliver products. They monitor and report on ecological areas to protect from anthropogenic deterioration and devastation. Furthermore, the military uses them for border control strategies in the field of defense. The global capital investment in drone sensors R&D and production has grown due to the rising number of applications.
The application segment is further classified into navigation, collision detection and avoidance, data acquisition, and motion detection and air pressure measurement. Among these, the navigation sub-segment accounted for a dominating market share in 2021. The drone sensors industry's rapid expansion and significant defense expenditure are predicted to drive the navigation system growth during the forecast period.
The end user segment is further classified into construction, media and entertainment, precision agriculture, security and surveillance, defense, law enforcement, transportation, and others. Among these, the defense sub-segment accounted for a dominating market share in 2021. The significant expansion of the drone sensor sector and the high defense spending are expected to drive the drone sensors market growth during the forecast period. The increase in defense spending in various countries, as well as government initiatives to develop a cutting-edge defense weapon platform by acquiring cutting-edge technologies such as precision striking, defense electronics, and critical infrastructure protection, are expected to drive the market growth significantly.
The drone sensors market in Asia-Pacific is anticipated to show the fastest growth during the forecast period. The region's early adoption of technology and massive investment in improved navigation systems is the key factor responsible for the regional market growth. Increase in investment on various automation technologies and the construction of smart infrastructure across the region is also predicted to boost the Asia-Pacific market growth.
Key Players in the Global Drone Sensors Market
Some of the leading drone sensors market players are
- Bosch Sensortec GmbH
- Sparton NavEx
- ams-OSRAM AG
- Infineon Technologies AG
- Sentera Inc.
- TDK Corporation
In January 2020, Velodyne Lidar announced Velabit, smallest sensor designed for UAVs, autonomous vehicles, and robots. In the industry, the sensor provides superior GPS-denied HD mapping.