The global drone sensor market size is projected to reach USD 2342.1 million by 2028 owing to the increasing adoption from the defense industry, states Fortune Business Insights™ in its report, titled “Drone Sensor Market, 2021-2028”. The report further states that the global market value was USD 394.7 million in 2020 and is expected to register a CAGR of 25.08% from 2021 to 2028.
The COVID-19 pandemic has been a positive driver for the global drone sensor market. Various commercial end-user industries have initiated the adoption of drones for their operations amid the pandemic. Based on our analysis, the global market has experienced higher growth of 20.25% in 2020 compared to the average year-on-year growth during 2017-2020.
Department of Défense Awards Multiple Contracts for Drown Implementation
In July 2020, Air Map, Modal AI, Sky dio, Graffiti Enterprises, and Obsidia Sensors were awarded different contracts worth USD 13.4 million by the innovation arm of the Défense Department from the U.S. The contracts were given under the Defense Production Act. The primary aim of these contracts was to provide technical support, analyse, and enhance the technology integration with human beings for the new programs of the Department of Defense (DOD). The department also required AI-enabled drone capabilities from drones to assess the uncharted territories.
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Image Sensors Segment to Register Highest CAGR
We have categorized the market on the basis of sensor type, application, platform, and geography. In terms of sensor type, the market is divided into inertial sensors, image sensors, speed & distance sensors, position sensors, pressure sensors, ultrasonic sensors, altimeter sensors, current sensors, light sensors, and others. The image sensors segment is estimated to showcase the highest CAGR by 2027 due to the high popularity of aerial photography in the commercial sector.
Based on application, it is fragmented into navigation, collision detection and avoidance, data acquisition, motion detection, air pressure measurement, power monitoring, and others. On the basis of platform, the market is bifurcated into fixed-wing, hybrid, and VTOL. The VTOL segment held the highest drone sensor market share in 2020. The segment growth is highly backed by the increasing demand from the military and defense sector.
Increasing Applications in the Military & Defense Industry Worldwide to Drive Growth
Drones are increasingly accepted in the defense industry for challenges related to security and risks regarding any vulnerable areas. They are also used for surveillance, reconnaissance, and targeting owing to their capabilities of escaping radar range. Increased utilization of Unmanned Aerial Vehicles (UAVs) in military and defense applications is estimated to drive the global drone sensor market growth. For instance, in August 2020, Michael Kratsios, acting undersecretary of Defense for Research and Engineering, announced to give access to commercial drones to the Defense Department and the entire federal government.
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Integration of Advanced Technologies with Drones by Broadcasting Channels to Boost Demand in North America
The market value of North America stood at USD 143.2 million in 2020. The region is set to lead the global drone sensor market during the forecast period. The primary factor expanding the market share in the region is the growing adoption of drones in the U.S. military & defense. In addition, the integration of advanced technologies with drones by broadcasting channels to enhance the experience of viewers at home is accelerating the demand for drone sensors in the region. For instance, in 2017, Aaron Gordon, one of the basketball players playing in the NBA, got assistance from an Intel drone for his live dunk.
Assisting Insurance Companies in Assessment to help Key Players Expand their Business
Key players operating in the global drone sensor market are focusing on manufacturing unique sensors specially designed for assistance in the agricultural insurance and assessment sector. This will help them cater to a large customer base as well as expand their business at a new vertical. For instance, Skymet is utilizing drones to provide detailed surveys to the insurance companies and the various state governments in India including Maharashtra, Gujarat, Rajasthan, and Madhya Pradesh.
- In October 2020, Aquiline Drones announced a five-year agreement with Drone Volt, a sensor manufacturing company from France, to avail the production of Hercules 2 and Altura Zenith, two highly popular drones by Drone Volt. In addition, the contract will help Aquiline become the sole provider of the two drones in the U.S.
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List of Key Players Profiled in the Drone Sensor Market Report:
- Trimble (US)
- Bosch Sensortec (Germany)
- TDK InvenSense (U.S.)
- SpartonNavEx (US)
- Raytheon (US)
- AMS AG (Austria)
- Flir System (U.S.)
- KVH Industries (U.S.)
- TE connectivity (Switzerland)
- Lord Microstarin (U.S.)
- Other Players
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