Drone Camera Market

The global drone market to be worth more than USD 57 billion by 2032

The increasing scope of application for drones across various applications such as hospitality, logistics, surveillance, monitoring, search and rescue, crowd management, and recreational operations among others are primary factors supporting the market opportunities. The increasing awareness of end-user towards receiving high-definition imagery and audio-visual output, backed by rising budget allocation towards such activities is accelerating business opportunities. Mega projects on the commercial, military, and government fronts by countries such as the UK, U.S., China, Japan, and Russia among others to notably support the market growth. For instance, in July 2022, the UK announced its plans to develop one of the largest automated drone highways. The project “Skyway” will be 164miles long and attract more than USD 275 million in funding, which is allocated for the development of the aerospace sector. Within the total allocated budget, more than USD 12 million will be allocated towards the development of infrastructure, whereas another USD 107 million (approx.) will be allocated towards the integration of aviation systems and new vehicle technologies. Such initiatives will generate vast business opportunities and provide long-term B2B engagement opportunities.

The companies operating within the drone camera industry are undergoing mergers, collaboration, acquisition, long-term contracts, and service agreements to increase their global footprint. For instance, in May 2021, Teledyne Technologies concluded the acquisition of Flir Systems. The acquisition was in line with the efforts taken by Teledyne Technologies to increase its product offering and support market penetration activities within the military segment. Furthermore, notable investment towards research and development to launch new and innovative products that support operational integration at multiple levels is also practiced by industry stakeholders.

According to the CXOs and primary research conducted, the aggressive usage of drones during the Russia-Ukraine war will have a major market impact. Long-term design, and manufacturing contract with quick deployment in a warzone to support business opportunities. For instance, in November 2022, Russia and Iran entered an agreement where Iran will deliver design and crucial war drone components to Russia, allowing the nation to establish a manufacturing and assembly line within a month. Russia has already deployed approximately 400 Iranian-made drones since August. Such collaboration and geopolitical support surge business opportunities within European and Middle Eastern regions of the drone camera market.

The drone camera market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. Quick adoption of new technologies, support by military and regional government towards integration of high-definition drone cameras, and the presence of major industry players within the region are primary factors supporting market potential within the North American region. The major companies operating within the market are DJI, Teledyne Flir, Sony Corporation, Panasonic, Garmin Ltd., Canon Inc., Aerialtronics DV B.V, Controp Precision Technologies Ltd., and DST Control.