Global Small Drones Market: Key Highlights
Global Small Drones Market: Key Market Dynamics
Global Small Drones Market: Regional Overview
The small drones market in the Asia-pacific region is projected to witness accelerated expansion as the development in the drone industry is increasing in the region. According to World Economic Forum, China is one of the leaders in innovations in the consumer drone industry by capturing around 70% of the marked share globally. Moreover, China is developing variety of drones that are able to fulfil several military requirements. In addition, Japanese government is also taking initiative to promote drone development, small area are allocated to the drone manufacturers for the trials.
Due to increasing adoption of drones and support from governing authorities in Europe, the small drone industry is predicted to expand. Rising number of exhibitions and conferences such as Commercial UAV Expo Conference regarding drones and its development are evident. According to European Commission, drones will influence economy and may create more job opportunities by 2035 in the European Union. Moreover, in 2019, the European Commission embraced regulations for drone operators that makes the European region first in the world to have extensive set of guidelines, which assures secure and feasible operation of drones.
Global Small Drones Market: Key Players Overview
Northrop Grumman Corporation is a US-based multinational aerospace and defense company that deals weapon production and other services. The company engineers, manufactures and provide support services in the field of aircrafts, spacecrafts, cyber security solutions and radars. It supplies advanced aircrafts, full-spectrum cyber security for land, air, and sea, critical services to armed forces, and naval systems among others. In 2019, the company collaborated with the US navy to work on linking drone with an actual US Navy Growler in an event organized by Navy Warfare Development Command.
Elbit Systems Ltd. is an Israel-based global defense electronics company that deals in defense and homeland security majorly. The company product portfolio includes military helicopter and aircraft systems, helmet mounted systems, unmanned aircraft systems and unmanned surface vessels, land vehicle systems, cyber and intelligence systems, electronic warfare and signal intelligence systems, among others. In October 2019, the company sold 1000 units of mini-drones worth USD 153 million to an Asian country, the deal gave competitive edge to the company.
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