Traditionally, unmanned aerial systems (UAS) or drones have been utilized for military applications. However, in the last decade, drones have become a popular device for commercial, industrial, and recreational applications as well. At present, the utilization of drones for various Earth observation applications such as surveying, mapping, inspections, and surveillance, as well as collecting analytical geospatial data, is advancing at a substantial pace. The related drone services and manufacturing businesses are mushrooming as well. This is mainly owing to the capabilities of drones to collect large volumes of geospatial data efficiently, quickly, and cost-effectively as compared to satellite imagery.
Read Report Overview: Earth Observation Drones Market
The global Earth observation drones market was valued at $9,014.6 million in 2021, and it is estimated to reach $18,214.9 million by 2032 at a compound annual growth rate (CAGR) of 6.88% during the forecast period 2022-2032. The major factor driving the market growth is expected to be the growing adoption of drones for industrial and commercial applications. During the COVID-19 pandemic period, the adoption of drones for commercial applications such as solar panel inspections, pipeline inspections, oil and gas field monitoring, and agriculture monitoring witnessed a significant rise. Civil-government agencies have also started adopting drones for applications such as border surveillance, civilian monitoring, disaster management, etc.
The rotar-wing drone type market is leading the segment mainly because its frame offers vertical take-off capabilities, which makes it feasible for one to fly it easily in different geographies, environments, and terrains with minimal space requirements. Its structure also allows it to carry heavy payloads and move about in any direction easily. Rotor wing drones also have higher hovering capacity, which is useful for Earth observation applications. Moreover, rotor-wing drones are cost-effective as compared to other drone types, especially for Earth observation applications that require minimal payloads, such as cinematography.
North America to Dominate Earth Observation Drones Market Over the Forecast Period
The North America region has two key countries driving the growth, i.e., the U.S. and Canada. In the U.S., Earth observation drones are gaining significant traction for agriculture monitoring, border management, and critical infrastructure inspection, while in Canada, the usage of drones for environmental monitoring and surveillance is accelerating market groth.
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This growth is driven by the increasing use of Earth observation drones in the countries such as the U.K., France, Germany, Ukraine, and Russia. These countries are investing heavily in surveillance and reconnaissance drones owing to the ongoing geopolitical tensions in the region. Besides this, in December 2021, the European Union Aviation Safety Agency (EASA) approved a new set of uniform laws for the European Union (EU) countries, including the U.K., Norway, Iceland, and Liechtenstein. Earlier, each country had its own set of rules; however, bringing all EU countries under a singular set of rules has facilitated easy operations of drones throughout the region. This factor is benefitting the commercial Earth observation drones operators and manufacturers in the region.
Recent Developments in the Earth Observation Drones Market
- In April 2022, ideaForge Technology Private Limited completed a Series B funding round of $20 million led by Florintree. The existing investors of the company Celesta Capital, a prominent deep tech investment fund, Infosys, Qualcomm, and Infina, along with the Exim Bank of India, also participated. The company aims to utilize this funding for team expansions, research and development, and extending its reach internationally.
- In March 2022, the Australian Government contracted Insitu Pacific Pty Ltd to deliver the new Tactical Integrator Unmanned Aerial System (UAS) to the Australian Army under LAND129 Phase 3. The contract includes delivery, initial support of the UAS and associated ground systems, and prime systems integrator services. The delivery is expected to run through 2023 and 2024.
- In January 2022, Azur Drones secured funding of nearly $9 million from a private French investor. This funding will support the company’s development in 2022 as the company aims to introduce new solutions in the areas of industrial inspection, gas detection, and quantification, as well as accelerate its international growth.
- In January 2022, the world's first “Sea-Air Integrated Drone” was disclosed during a flight showcase at the Hakkeijima Sea Paradise in Yokohama by Japanese telecommunications company KDDI, Prodrone Co., Ltd, and QYSEA.
- In August 2021, Shield AI secured $210 million in a Series D funding round, which was led by Disruptive, a U.S.-based late-stage technology investor, with participation from multiple top-tier venture funds, including Point72 Ventures. The company aims to accelerate its plans for growth across the defense and commercial industries.
Competitive Landscape
The competitive landscape of the Earth observation drones market consists of several organic and inorganic strategies followed by the key players to increase their market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.
Some of the key players in the Earth observation drones market include DJI, Parrot Drone SAS, Lockheed Martin Corporation, Northrop Grumman Corporation, Hubsan, Evolve Dynamics, AgrowSoft LLC, Gryphone Dynamics, Asteria Aerospace Limited, Atmos UAV, Drone Volt, Novadem, Teledyne FLIR LLC, Wingtra AG, Yuneec International, Ehang, and Insitu Inc. These companies are aiming for a wide range of partnerships, collaborations, agreements, and contracts to expand their operations and increase their market presence globally to generate revenues and attract new customers.
Analysis of the Global Earth Observation MarketA new study published by Fact.MR on the global Earth Observation market includes a global analysis and opportunity assessment for the period 2019-2029.
The report offers a comprehensive assessment of the key market dynamics in detail.
The analysts take into account the historic as well as the current growth parameters to project the growth of the Earth Observation market with maximum accuracy.On this premise, the earth observation market is poised to witness steady growth of 5% over the forecast period (2019-2029).
The report provides a Y-o-Y growth trend analysis and the current and future market volume projections (Units) for the assessment period.
The impact of the novel COVID-19 pandemic on the Earth Observation market is assessed in the report along with valuable insights pertaining to how market participants are adapting to the current situation.Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=4632In a bid to recognize the growth prospects in the Earth Observation market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market.
Each segment of the Earth Observation market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:North AmericaLatin AmericaEuropeJapanAPEJMEAThe key players in the global Earth Observation market report consist ofThe Boeing CompanyBAE SystemsGlobal LLCBlackSkyPlanet Labs Inc.Each market player encompassed in the Earth Observation market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R projects, and business tactics.
