The payload is the amount of weight that a drone or unmanned aerial vehicle (UAV) can transport. It is typically counted in addition to the weight of the drone and includes anything extra to the drone, such as extra sensors, parcels for delivery, or cameras. In addition, payloads are one of the unmanned aircraft system (UAS) subsystems that are installed on unmanned aircraft vehicles (UAV) and can be operated by a remote control system or the ground stations. Payloads, such as LiDAR, sensors, cameras, and others stay physically attached to the UAV during the mission, but their contribution is critical to mission success. However, some dispensable payloads can be released from the aerial vehicle during flight, based on a signal received from the radio controller or ground station.
The drone payload market experiences immense growth, which is driven by promising growth rate of the drone market, increase in demand for improved surveillance, and increase in market for location-based services. However, privacy and security concerns, high-resolution satellite imagery, and strict drone regulations factors are expected to restrain the growth of the drone payloads market during the forecast period. On the contrary, increase in application areas for GPS, LiDAR, mapping services, and others, improvement in drone payload technologies, and rise in defense expenditure globally are the major factors that are expected to supplement the drone payloads market, thereby providing a better opportunity for the growth of the drone payloads market during the forecast period.
The drone payload market is segmented based on application, type, and region. On the basis of application, it is classified into defense, agriculture and environment, media and entertainment, energy, government, construction and archaeology, and others. By type, the market is segmented into cameras & sensors, radar & communication, and weaponry. The market is analyzed across four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include, AeroVironment Inc., Autel Robotics, DJI Technology, Draganfly Inc., Elbit Systems Ltd., Israel Aerospace Industries Ltd. (IAI), IMSAR LLC, Northrop Grumman Corporation, Parrot SA, and Teledyne FLIR LLC.
The drivers, restraints, and opportunities present in the market are explained in the report, in addition to the analysis of their impact. The report includes the study of the drone payload market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
The drone payload market experiences immense growth, which is driven by promising growth rate of the drone market, increase in demand for improved surveillance, and increase in market for location-based services. However, privacy and security concerns, high-resolution satellite imagery, and strict drone regulations factors are expected to restrain the growth of the drone payloads market during the forecast period. On the contrary, increase in application areas for GPS, LiDAR, mapping services, and others, improvement in drone payload technologies, and rise in defense expenditure globally are the major factors that are expected to supplement the drone payloads market, thereby providing a better opportunity for the growth of the drone payloads market during the forecast period.
The drone payload market is segmented based on application, type, and region. On the basis of application, it is classified into defense, agriculture and environment, media and entertainment, energy, government, construction and archaeology, and others. By type, the market is segmented into cameras & sensors, radar & communication, and weaponry. The market is analyzed across four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include, AeroVironment Inc., Autel Robotics, DJI Technology, Draganfly Inc., Elbit Systems Ltd., Israel Aerospace Industries Ltd. (IAI), IMSAR LLC, Northrop Grumman Corporation, Parrot SA, and Teledyne FLIR LLC.
The drivers, restraints, and opportunities present in the market are explained in the report, in addition to the analysis of their impact. The report includes the study of the drone payload market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global drone payload market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall drone payload market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the global drone payload market with a detailed impact analysis.
- The current drone payload market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
Key Market Segments
By Application
- Media and entertainment
- Energy
- Government
- Construction and archaeology
- Others
- Defense
- Agriculture and environment
By Type
- Cameras and sensors
- Radar and communication
- Weaponry
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- AeroVironment Inc
- Autel Robotics
- DJI Technology
- Draganfly Inc
- Elbit Systems Ltd
- Israel Aerospace Industries Ltd
- IMSAR LLC
- Northrop Grumman Corporation
- Parrot SA
- Teledyne FLIR LLC
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DRONE PAYLOAD MARKET, BY APPLICATION
CHAPTER 5: DRONE PAYLOAD MARKET, BY TYPE
CHAPTER 6: DRONE PAYLOAD MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Drone Payload Market,' the drone payload market was valued at $7.2 billion in 2020, and is estimated to reach $33.3 billion by 2030, growing at a CAGR of 16.9% from 2021 to 2030.North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the drone payload market share in North America in 2020, owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making advanced drone payload systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of drone payload services across several Asian nations, for instance, China, India, Japan, and South Korea.
According to FAA (Federal Aviation Administration), drones or unmanned aerial vehicles (UAVs), are as any aircraft system without a flight crew onboard. In addition, a drone is an unmanned aerial vehicle or unmanned aircraft that can be remotely operated or can fly autonomously with the help of an embedded program. The additional weight attached to these drones, excluding the weight of the drone itself, is referred to as the drone payload. Drone payloads include weapon systems, cameras, sensors, delivery goods, and other items.
The drone payload market has witnessed significant growth in recent years, owing to the development of advanced drone payload systems by key market players. For instance, in April 2022, Teledyne FLIR LLC launched the Boson plus longwave infrared thermal camera module with industry-leading sensitivity of 20 millikelvin (MK) or less for unmanned platforms, security applications, handhelds, wearables, and thermal sights. Also, in January 2022, Teledyne FLIR LLC developed five boson radiometric camera models and enhanced developer graphical user interface software.
Moreover, factors such as the promising growth rate of the drone market, increase in market for location-based services, and rise in demand for improved surveillance are expected to drive the growth of the drone payload market. However, factors such as privacy and security concerns create a barrier to the market growth. On the contrary, increase in defense expenditure by governments of major economies is expected to create ample opportunities for the growth of the market across the globe.
On the basis of application, the market is segmented into defense, agriculture and environment, media and entertainment, energy, government, construction and archaeology, and others. The defense segment garnered the highest revenue in 2020, owing to high demand for drone payload solutions in the defense sector.
By type, the drone payload market is segregated into cameras & sensors, radar & communication, and weaponry segments. The cameras & sensors segment accounted for the highest revenue in 2020, owing to a huge demand for drone cameras and sensors for a wide range of applications.
COVID-19 Impact Analysis
The COVID-19 impact on the drone payload market is unpredictable, and is expected to remain in force for a few years.
The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import-export of raw material items for most of 2020 and few months in 2021. This led to sudden fall in the availability of important raw materials for manufacturing drone payloads and other components.
Moreover, nationwide lockdown forced drone payload manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic resulted in delays in activities and initiatives regarding development of advanced drone payload components globally.
KEY FINDINGS OF STUDY
- By application, the construction and archaeology segment is expected to register significant growth during the forecast period.
- By type, the weaponry segment is anticipated to exhibit significant growth in the future.
- Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Companies Mentioned
- AeroVironment Inc
- Autel Robotics
- DJI Technology
- Draganfly Inc
- Elbit Systems Ltd
- Israel Aerospace Industries Ltd
- IMSAR LLC
- Northrop Grumman Corporation
- Parrot SA
- Teledyne FLIR LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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