According to Fact.MR, a market research and competitive intelligence provider, the global long range drone market is estimated at US$ 8,176.7 million in 2023 and is expected to expand at an impressive CAGR of 16.7% during the forecast years of 2023-2033.
There are millions of drones engaged in various operations for commercial end use. And as long-range drones of various shapes and sizes are used by government organizations, the armed forces, emergency services, fire departments, hobbyists, scientists, and farmers, as well as sports enthusiasts, photographers, border patrols, and even wedding planners, that number is likely to rise to hundreds of thousands.
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Long-range drones can have a number of benefits, including significant cost savings as well as environmental advantages including reduced noise, fuel consumption, and CO2 emissions. Many nations have raised concerns about the regulation of drone use for civilian purposes.
These difficulties include the need to guarantee that drones cannot jeopardize national security, that they be used properly, without endangering the public, and in a manner that would safeguard regions of ecological, national, and historical importance.
Due to the aforementioned factor, the demand for long-range drones will likely be very profitable in the upcoming year. This will be accomplished by selling long-range drones through a variety of sales channels, which will open up a wealth of opportunities to directly reach out to consumers all over the world.
Key Takeaways from Market Study
- The global long range drone market is projected to expand at an impressive CAGR of 7% and be valued at US$ 38,307.7 million by 2033
- The market witnessed 7% CAGR for the period of 2018-2022
- Under flight time, above 45 min long range drone dominated the market and are valued at US$ 2,962.4 million in 2023
- North America and Europe dominated the market with 1% and 30.1% market share in 2022
- By drone type, commercial drone type is likely to represent 7% market share in 2023
“Consumer Prefer High Flight Time as well as Higher Payload Capacity in Long Range Drone Market” says a Fact.MR analyst.
Top Key Players of Industry
- 3D Robotics
- Adani Defence & Aerospace
- AgEagle Aerial Systems
- DJI
- Embention
- FLIR
- Flyability
- General Aeronautics
- Guangdong Syma Model Aircraft Industrial Co. Ltd
- Lockheed Martin Corporation
- Nileworks Inc
- Northrop Grumman
- Paras Aerospace
- Parrot Drones SAS
- Percepto
Market Development
With value-added services, businesses are customising their offerings for their end user base. Major players are developing long range drones with cutting edge technologies and additional features like crash safety and noise reduction in order to maintain their USPs. Additionally, the majority of participants have been concentrating on technologies and IoT-based sophisticated systems such automated drone accessories, which have the potential to become crucial components of the drone business.
North America is likely to be most prominent region form the demand side. While, Asia Pacific will become the fastest non-defense market throughout assessment period. The strong supply chain network and capital expansion in East Asia region to open new doors of opportunities for manufacturers during the forecast period. Along with organic growth strategies, manufacturers have several opportunities to follow inorganic growth strategies such as merger, partnership and collaboration to expand in East Asia region owing to ample opportunities for revenue generation.
Segmentation of Long Range Drone Industry Research
- By Product Type :
- Fixed Wing
- Rotary Wing
- Hybrid
- By Flight Time :
- Below 15 Min
- 15-30 Min
- 30-45 Min
- Above 45 Min
- By Coverage Area :
- below 5 Km
- 5-10 Km
- 10-15 Km
- Above 15 Km
- By Drone Type :
- Commercial
- Military & Defense
