Increasing technological advancements in sensor technologies, raising governments spending on defence, and diminishing camera prices are some of the major factors bolstering the market growth.
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According to Publisher, the Global Drone Payload Market is expected to grow from $4.28 billion in 2016 to reach $13.54 billion by 2023 with a CAGR of 17.8%.
Furthermore, wider applicability in environmental studies and cost efficiency in military are the factors boosting the market. However, security & privacy issues, strict regulations, and complexities in design are hindering the market growth.
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North American market is estimated to be the dominant among others attributed to increasing demand from U.S., increasing adoption in military services. Asia Pacific is likely to grow at a moderate rate during the forecast period.
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Some of the key players in Global Drone Payload Market include 3D Robotics, Inc., Aerovironment, Inc., Aeryon Labs Inc., BAE Systems PLC., Barnard Microsystems, Elbit Systems Ltd, FLIR Systems, Inc., FreeWave Technologies, Gilat Satellite Networks, GoPro, Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman Corporation, Parrot SA, SZ DJI Technology Co. Ltd, Textron Inc., and Thales Group.
-Communication Intelligence (Comint)
-Electronic Intelligence (Elint)
-Signal Intelligence (Sigint)
-Maritime Patrol Radar (MPR)
-Synthetic Aperture Radar (SAR)
-Electronic Warfare (EW)
End Users Covered:
- Cargo Delivery
- Climate & Pollution Monitoring
- Film Production & Marketing
- Mapping & Surveying
- Oil & Gas
- Wild Life Research & Survey
- Battle Damage Assessment & Target Designation
- Combat Operations
- Homeland Security
- Intelligence, Surveillance & Reconnaissance
-Other End Users
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- Rest of Europe
- New Zealand
- Rest of Asia Pacific
-Rest of the World
- Middle East
- South Africa
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