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Kenneth Research examined the statistical and analytical approach that is required for the growth of Drone market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Drone Market products.
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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.
Global Drone Market was valued at USD 14.5 Billion in the year 2017. Global Drone Market is further estimated to grow at a CAGR of 18.83% from 2018 to reach USD 66.93 Billion by the year 2025. North America region holds the largest Market share in 2017 and Asia-Pacific Market is considered as the fastest growing Market in the forecasted period. At a country level, the U.S Market is projected to grow strongly in the coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The major Market players in Drone Market are DJI Drones, UVify Inc., Hubsan Drones, 3D Robotics Inc., General Atomics, Northrop Grumman Corp., Aerovironment Inc., Bae Systems, Boeing, Parrot S.A., Yuneec International Co. Ltd. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Drone Market
Strength
Rapid Technological Advancements
Weakness
Government Regulation
Opportunities
Adoption in Military for Spying
Threats
Weight and Endurance
The major shares of the Market come from 150 Kg in Global Drone Market. On the other hand, Camera component for this Market is projected to grow at highest CAGR during the year 2018-2025.
Drone Market Overview By Application
Surveying and Mapping
Inspection and Monitoring
Search and Rescue Operation
Media and Entertainment
Precision Agriculture
Others
Drone Market Overview By Component
Sensors
Controller System
Navigation System
Cameras
Propulsion System
Battery
Others
Drone Market Overview By Type
Vertical Take-Off and Landing (VTOL)
Tactical Unmanned Air Vehicle (TUAV)
Medium-Altitude Long-Endurance (MALE)
High-Altitude Long-Endurance (HALE)
Fixed-Wing
Others
Drone Market Overview By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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Key points covered in this report:
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
- The import and export details along with consumption value and production capability of every region is mentioned in the report.
- Porter's five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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James Bullock
James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology
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