The Drone Sensor Market Size is expected to experience a substantial growth during the forecast period. This is attributable to the increasing demand for unmanned aerial vehicles (UAVs) in agriculture and the recent advancements in drone sensor technology across the globe. This information is published by Fortune Business Insights, in its upcoming report, titled, “Drone Sensor Market Size, Share & Industry Analysis, By Sensor Type (Inertial Sensor, Image Sensor, Speed and Distance Sensor, Position Sensor), By Platform Type (VTOL, Fixed-Wing, Hybrid), By Application (Navigation, Collision Detection & Avoidance, Data Acquisition), By End-User (Construction, Media & Entertainment, Precision Agriculture) and Regional Forecast, 2019-2026.”
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Surging Demand for Drones amid COVID-19 to Aid Growth
The COVID-19 outbreak led to an unprecedented economic loss owing to a complete halt of industrial applications across the globe. Several economies are still reeling and are further anticipated to experience sluggish growth in the near future. However, amid the pandemic, the demand for drones has skyrocketed. Drones are turning out useful in performing several tasks without the human intervention that is expected to contain the spread of the disease. The market is thriving and is anticipated to showcase a significant growth in the coming years.
A drone sensor plays an important role in an unmanned aerial vehicle (UAV). It is integrated into the UAVs to perform several tasks such as providing high-resolution imaging, mapping, measuring air pressure, and recording accurate positioning of the subject. There are various types of sensors such as gyroscope, accelerometer, GPS, barometer, and magnetometer that are used in several industrial applications such as military, agriculture, packaging, and aerospace.
What does the Report Include?
The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
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Increasing Adoption of UAVs in Agriculture to Surge Demand
The growing population rate is driving the demand for food across the globe. To cater to the increasing food demand, several agricultural companies are adopting innovative methods to boost food production. One such method is using drones in agriculture that are being extensively adopted by the farmers to monitor crops, irrigation, soil and field analysis, livestock monitoring, and crop health assessment, among others. The increasing adoption of drones and remarkable advancement in the drone sensor technology is expected to boost the global drone sensor market growth during the forecast period. For instance, in July 2020, FLIR, a leading drone sensor solutions provider, announced the launch of new compact, lightweight, and low power sensor module best suited for small drones.
Presence of Major Companies in North America to Promote Growth
Among all the regions, North America is expected to remain dominant and hold the highest global drone sensor market share in the forthcoming years. This is attributable to the presence of major companies such as Aerotenna, Swift Navigation, Inc., and YOST LABS, among others in the countries such as the U.S. Additionally, the increasing use of drones in the U.S. for surveillance, intelligence, and reconnaissance purposes is expected to drive the demand for drone sensor in the region. The market in Europe is anticipated to showcase a considerable growth during the forecast period. This is ascribable to factors such as the increasing adoption of military drones in the battlefield operation between 2019 and 2026.
Major Companies Launching New Products to Strengthen Product Portfolio
The global drone sensor market is highly consolidated, attributable to the presence of several major companies that are focused on introducing new drone sensor products to strengthen their positions. Additionally, they are adopting strategies such as collaboration, partnerships, and mergers and acquisitions to maintain their presence in the highly competitive global marketplace. For instance, in July 2020, DroneSheild, a leading drone sensor manufacturer, introduced the updated version of its detection system, RfOne MKII sensor. According to the company, the sensor efficiently detects, identifies, and tracks drones over a distance of up to 8 kilometers.
- November 2019: AVT Australia announced that is has signed a contract with the Australian Government. According to the company, the contract is worth USD 3.6 million and is aimed at improving the drone sensor technologies for the Australian Army.
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List of the Companies Operating in the Market:
- Aerotenna (U.S.)
- SBG Systems S.A.S. (U.S.)
- Swift Navigation Inc. (U.S.)
- Collins Aerospace, a United Technologies company (U.S.)
- Velodyne Lidar, Inc. (U.S.)
- YOST LABS (U.S.)
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