Mini Drones Market To Expand On The Back Of Their Portable Nature And Presence Of Additional Equipment Such As GPS Navigation Systems, Cameras And Others
Research Nester has released its report titled “Mini Drones Market: Global Demand Analysis & Opportunity Outlook 2020-2027” thatdelivers detailed overview of the global mini drones market in terms of market segmentation by type, product, control, distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Mini drones market is set to grow steadily at a modest CAGR over the forecast period (i.e. 2020-2027) owing to various factors such as portability and for recreational purposes. Additionally, these drones can be used for entertainment purposes such as toys by children. Revenues generated from the sale of youth electronics toys in United States of America forming part of traditional toy categories stood at USD 610 million as of 2018.
The growth of the global mini drones market is driven by several factors such as portability of these mini drones wherein, the drones can be carried by individuals by fitting them into their pockets including for entertainment purposes for children as toys and for other recreational purposes at homes. Moreover, their applications in agriculture which include automatic aerial spraying of pesticides and fertilizers on crops and their application in military and defence, wherein, the army personnel use these drones during war times while engaging in military combat with enemy nation in order to protect the territories of the nation are anticipated to increase the demand for mini drones and is estimated to drive the growth of the market over the forecast period.
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However, some limitations are faced by global mini drones market such as lesser flight duration time on account of lesser battery power and the increasing threats associated with the privacy and security of individuals, which may temporarily act as major restraints to the growth of the market over the forecast period.
The global mini drones market comprises of four segments which are segmented by type into with camera (FPV), without camera and racing, by product into rotary and fixed wing drones, by control into smartphone app and dual-joystick controller and by distribution channel into online and offline channel. Rotary wing drones falling under product segment is predicted to hold the highest market share, owing to better movements, lesser prices and the flying of multi-rotor aircrafts becoming simpler for individuals and autopilots.
The market in North America is estimated to occupy the highest market share, owing to the availability of many leading manufacturers of mini drones including advancements in technology taking place in the region. The market in Asia Pacific region is estimated to grow at a rapid pace over the forecast period, owing to their application in areas such as photography, insurance coverage and other areas.
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This report also provides the existing competitive scenario of some of the key players of the global mini drones market which includes company profiling of key companies such as DJI Sciences & Technologies Ltd., AeroVironment, Inc. (NASDAQ: AVAV), The Boeing Company (NYSE: BA), Yuneec International, Potensic, Lockheed Martin Corporation (NYSE: LMT), Autel Robotics, Elbit Systems Ltd. (TLV: ESLT), Parrot S.A. (EPA: PARRO) and Thales Group (EPA: HO). The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global mini drones market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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