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Market HighlightsAs per a detailed analysis by Market Research Future (MRFR), the global drone sensor market is estimated to garner USD 934.4 million, registering a CAGR of 25.86% during the forecast period (2018-2023). The surging demand for drones in commercial and civil applications is contributing to the market growth across the globe. A drone can be defined as an unmanned aerial vehicle (UAVs) or unmanned aircraft systems (UASes). It can be remotely organized or fly independently with the help of software-controlled flight planes which is embedded in systems functioning in conjunction with onboard sensors and GPS. Drones are disrupting businesses in segments like traffic management, agriculture, and homeland security. They help to capture real-time data with high accuracy. They find applications in traffic monitoring, real-time surveillance, goods delivery, and crop health monitoring.
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Competitive Dashboard
The prominent players operating in the global drone sensor market comprises Bosch Sensortec (Germany), Trimble (US), Sparton NavEx (US), TDK InvenSense (Japan), ams AG (Austria), Raytheon (US), PrescisionHawk (US), Infineon Technologies AG (Germany), SlantRange (US), and Sentera, Inc. (US).
Market Potential and Pitfalls
The drone sensor market is witnessing a significant spike in its growth due to the surging demand for drones in commercial and civil applications. The growing demand for high tenacity imaging for surveying and mapping along with precise positioning for precise navigation, surging demand from the commercial and logistics sector for the delivery of goods, and improved crop vigor analysis for the preciseness of farming are some of the top factors contributing to the growth of the market. Drones make use of machine learning and artificial intelligence in order to analyze the data with sophisticated image processing. Artificial intelligence and machine learning help in better identification of the objects and take the required action. The reduction in the price of advanced sensor technologies has further enabled the drone companies to provide a varied range of mapping solutions like hyperspectral and multispectral imaging which helps to improve the drone imagery. Such factors are estimated to influence the drone sensor market globally.
On the contrary, the Drone Sensor Market consists of tampering and hacking of drones which is one of the top factors restricting the growth of the market during the assessment period.
Global Drone Sensor Market: Segmental Analysis
The global drone sensor market has been segmented on the basis of sensor type, application, platform type, and end-users.
By mode of sensor type, the drone sensor market constitutes of an image sensor, an inertial sensor, position sensor, speed and distance sensor, light sensor, pressure sensor, current sensor, and others.
By mode of platform type, the drone sensor market has been segmented into fixed-wing, VTOL, and hybrid. Among these, the hybrid platform is likely to gain prominence in the coming years as they offer advantages of extended flight time and better payload capacity.
The application segment comprises collision detection & avoidance, navigation, motion detection, data acquisition, power monitoring, air pressure measurement, and others.
The end-user segment has been segmented into media & entertainment, construction, personal, security & surveillance, agriculture, law enforcement, defense, transportation, and others. Among these, the defense and security & surveillance segments are anticipated to contribute a significant revenue share. The surging spending on drones for surveillance, intelligence, and reconnaissance missions are likely to contribute to the segment’s growth.
Regional Insights
Geographically, the drone sensor market has been studied under regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the North American region is likely to dominate the global drone sensor market. The surging applications of drones in security & surveillance, military & defense, and media and entertainment segments are anticipated to create growth revenues for the regional markets. The military & defense segment is triggering the demand for drone sensors in this region. The increased use of drones to cover sporting events by leading media houses is another growth factor for the regional market.
The Asia Pacific region is estimated to experience a significant growth rate during the review period due to the presence of major sensor vendors in this region. The favorable government policies coupled with the rapid adoption of drone deliveries are further estimated to contribute to the market growth.
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Industry Updates
April 15, 2019: Parrot, the French drone maker has recently launched the ANAFI Thermal. It is a light-weight and compact drone and is integrated with a FLIR thermal camera aimed at professional drone pilots. The all-new drone has been launched as an all in one package, which comprises the thermal sensor, the drone, and the software.
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