June 21, 2024
Small Uav Market

Commercial Small Uav Market Trends Towards Increasing Usage for Agricultural Activities

The commercial small UAV market is experiencing increased popularity for agricultural activities. Detailed imagery and analytical insights provide farmers with real-time data on crop health, soil conditions, and potential problems. This allows for targeted application of water, fertilizers and pesticides to boost crop yields.

The Global commercial small UAV Market is estimated to be valued at US$ 6.67 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the commercial small UAV market are Northrop Grumman, Bayer Tech, DJI, Parrot Drone SAS, Israel Aerospace Industry Ltd., AeroVironment, Inc., Lockheed Martin Corporation, Teledyne FLIR LLC, BAE Systems, Elbit Systems Ltd., AIRBUS, Textron Inc., Autel Robotics, Yuneec, PowerVision Inc., Teledyne Technologies Incorporated , Guangzhou Walkera Technology Co Ltd, Yuneec , Turkish Aerospace Industries, and Others.

The growing demand for precision agriculture is driving the commercial Small Uav Market Trends. Detailed crop monitoring and analysis helps farmers maximize yields while minimizing costs. Real-time aerial imagery helps detect diseases, pests and nutrient deficiencies.

The commercial small UAV market is expanding globally due to their versatile applications. Countries around the world are increasingly adopting UAVs for various commercial activities such as infrastructure inspection, surveying, product deliveries and public safety missions. This is resulting in significant market opportunities outside North America and Europe.

Market Key Trends

One key trend in the commercial small UAV market is their increasing usage for product deliveries. Several companies are developing UAVs and services for last-mile deliveries of packages. This offers a low-cost alternative to ground transportation in remote locations. Major e-commerce players are investing in UAV delivery tests and partnerships. Ongoing technological advancements aim to expand payload capacity for heavier packages while ensuring safe autonomous flight. These developments are likely to transform logistics with widespread UAV delivery networks in the coming years.

Porter’s Analysis

Threat of new entrants: New players face high costs of production and need time to gain customer trust.

Bargaining power of buyers: Buyers have medium bargaining power due to existence of substitute products.

Bargaining power of suppliers: Suppliers hold low bargaining power in presence of several component manufacturers and ease of forward integration.

Threat of new substitutes: Threat from substitutes like piloted aircraft is low as small UAVs cater to niche applications.

Competitive rivalry: Intense competition exists among major players to gain market share.

Geographical Regions

North America holds the major share in terms of value owing to stringent regulatory policies and military usage of small UAVs. The United States contributes significantly to regional growth.

Asia Pacific exhibits the fastest growth led by increasing adoption in commercial applications across countries like China and India. Rapid technological advancement and growing geopolitical risks foster regional expansion.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.