The market for small drones is projected to reach $22.55 billion by the end of 2026, according to a report recently released by Fortune Business Insights. In a paid analysis study titled “Small Drones Market Size, Share & Industry Analysis, by Type (Fixed-Wing, Rotary-Wing, and Hybrid/Transitional), By Power Source (Lithium-ion cells, Hybrid Fuel cells, and Solar cells), By Size (Micro, and Mini & Nano), By Application (Civil & Commercial, Military, Homeland Security, and Consumer) and Regional Forecast, 2015-2026” researchers predict that the 2018 $6.48 billion market will grow by 15.92% during the forecast period, 2019 to 2026. The report also states that North America is the largest market globally for small drones; but the fastest growth rate will be in the Asia Pacific region.
While actual numbers are always open to interpretation, growth curves are interesting to look at for trends. This research provides more evidence that the best is yet to come for the U.S. drone industry: far from slowing down, the market is likely to grow exponentially. Looking at the chart here, the real volume won’t come next year or the year after – but for companies who use the time to develop their products and customer base, the real payoff is on its way.
Fortune Business Insights says that the military market – especially Homeland Security – is a significant market driver now. Border patrol and combat troops are increasingly using small drones commercially available: military technology is increasingly crossing over to the enterprise markets. The civil and commercial market, however, will be the leading sector driving future growth. Disaster management, the power industry, and drone delivery are among the future market drivers.
The report also points out the opportunity that the small drones market represents for the manufacturers of improved batteries and other innovative power sources to increase the endurance of small drones.