Overview and Scope
Nano drones refer to extremely small drones or remote-controlled aircraft. They are built with smaller-sized rotors and motors and hence are light in weight, small in size, portable, and easier to control and navigate.
Sizing and Forecast
The nano drones market size has grown exponentially in recent years. It will grow from $1.68 billion in 2023 to $2.2 billion in 2024 at a compound annual growth rate (CAGR) of 30.4%. The growth in the historic period can be attributed to disaster management and surveillance needs, integration of AI and automation, cost reductions and affordability, commercial and industrial use cases, R&D and innovation.
The nano drones market size is expected to see exponential growth in the next few years. It will grow to $6.37 billion in 2028 at a compound annual growth rate (CAGR) of 30.5%. The growth in the forecast period can be attributed to security and surveillance needs, miniaturization of components, advancements in AI and automation, consumer demand and trends, rise in commercial applications. Major trends in the forecast period include delivery services, personal and recreational use, education and research, entertainment and media, disaster response and search operations.
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Segmentation & Regional Insights
The nano drones market covered in this report is segmented –
1) By Type: Fixed Wing Nano Drones, Rotor Nano Drones, Flapping Wing Nano Drones, Others
2) By Payload: Camera, Control Systems, Tracking Systems, Others
3) By End User: Consumer, Military Or Law Enforcement, Others
North America was the largest region in the nano drones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nano drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising construction industry is expected to boost the growth of the nano-drone market going forward. The construction industry encompasses a broad sector of economic activity involving the planning, design, development, construction, and maintenance of physical structures and infrastructure, including buildings, roads, bridges, utilities, and other facilities. Nano drones in the construction industry are used for providing efficient aerial surveillance and inspection capabilities, allowing for quick and detailed monitoring of construction sites, enhancing safety, and streamlining project management. For instance, in February 2022, according to a report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom Statistics Authority, the annual growth rate of the construction sector reached a historic high of 12.7% in 2021, surpassing the figures from the previous year. Notably, the volume of monthly construction output experienced a 2.0% increase in December 2021, predominantly propelled by a surge in new work at 3.5%. Additionally, the construction industry exhibited a quarterly production uptick of 1.0% in Q4 2021 compared to Q3, driven by growth in both new work (1.1%) and repair and maintenance activities (0.8%). Therefore, the rising construction industry is driving the growth of the nano-drone market.
Key Industry Players
Major companies operating in the nano drones market report are Thermo Fisher Scientific Inc., Safran SA, Science Applications International Corporation, Elbit Systems Ltd., Smiths Group plc, Bruker Corporation, FLIR Systems Inc., OSI Systems Inc., NUCTECH Company Ltd., Chemring Group plc, Rapiscan Security Products Inc., Bowers & Wilkins Co, L-3 Security And Detection Systems Inc., Garrett Electronics Inc., Morpho Detection Inc., Implant Sciences Corporation, Astrophysics Inc., Autoclear LLC, NABCO Systems LLC, CEIA USA Ltd., Aventura Technologies Inc., Detecta Chem Inc., Viken Detection, Kromek Group plc, Scanna MSC Ltd., Kapri Corp, CDex Inc., Argo Security SRL, Klipper Enterprises
The nano drones market report table of contents includes:
Executive Summary
Market Characteristics
Market Trends And Strategies
Impact Of COVID-19
Market Size And Growth
….
Segmentation
Regional And Country Analysis
Competitive Landscape And Company Profiles
Key Mergers And Acquisitions
Future Outlook and Potential Analysis
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