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Drone Payload Market : Global Major Key Players Research – Forecast to 2023
Market Research Future added New Report Named "Global Drone Payload Market Research Report- Forecast 2023" to its Database.
Drone Payload Market by Type (EO/IR, Cameras, SAR, SIGINT, ELINT, COMINT, MPR, Laser Sensors, CBRN Sensors & Optronics), End-User (Defense & Commercial), Application (Mapping and Surveying, Photography, Monitoring, ISR, Others) & Region–Forecast till 2023
The drone payload system is the weight a drone can carry and includes cameras, sensors, and other components. It varies for different applications. For instance, the payload of drones used in the military sector is larger than the commercial drones and include weapon systems and missiles. Similarly, the payload of drones used for commercial applications is larger than the ones used for personal purposes. The payload of UAVs used in commercial sector includes letters, meals, medicines, and other packages for delivery. However, major restraints of the drone payload market include privacy issues and national security regulations.
Weight, size, degree of autonomy, and energy source of a drone are major factors influencing its maximum payload capacity. These technical specifications are directly impact the drone’s performance capabilities, for example it’s range, flight duration, and loading capacity. Heavy payloads may in some cases be distributed over several drones, exceeding the payload of only one drone.
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Nowadays, the design and configuration of drone airframes mainly depend on the task to be performed and the payload to be carried. The companies are focused on developing drone airframe structures with reduced size, high durability, and other improved features. Focus on reducing manufacturing costs for airframe components, use of composite materials, and health monitoring are some of the key trends concerning drone payload market space.
The increasing need for advancement in technology will offer new growth opportunities to the market players. The factors responsible for market growth are focus on technology advancement, innovative use of microelectromechanical devices, and reduction in the size of sensors. Meanwhile, companies such as Amazon, UPS, Google, and other delivery service providers are experimenting with UAVs for delivery purposes instead of diesel-burning delivery trucks.
The global drone payload market has been segmented by type, end-user, application, and region. Synthetic aperture radar is the most widely used type, and thus, the segment has the largest market share. By end-user, the defense segment is estimated to witness the largest demand during the forecast period, owing to the high adoption rate of drones in the sector. By application, the mapping and surveying segment is estimated to witness the largest demand during the forecast period.
By region, the market is segmented into North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America. North America is expected to dominate the market in the coming years, due to the presence of major drone and payload vendors in the U.S. Asia-Pacific follows North America in the global drone payload market and is estimated to trail North America during the forecast period due to the increased military spending on drone payloads in countries such as India and China. The global drone payload market is estimated to witness a CAGR of 17%, from 2018 to 2023.
The key players in the global drone payload market are BAE Systems Plc (U.K), Elbit Systems Ltd (Israel), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Aerovironment Inc. (U.S.), Thales Group (France), Israel Aerospace Industries (Israel), Parrot S.A. (France), SZ DJI Technology Co. Ltd (China), and 3D Robotics Inc (U.S.).
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