Small drones market projected to grow, with major players like Boeing expanding

From GlobeNewswire:

The small drones market size is projected to grow from USD 5.8 billion in 2023 to USD 10.4 Billion by 2030, at a CAGR of 8.6% from 2023 to 2030. Small Unmanned Aerial Vehicles (SUAVs) are gaining popularity in both commercial and defense sectors. Industries like oil & gas and construction are embracing SUAV technology, with emerging applications like cargo delivery driving market growth. Major players like SZ DJI Technology Co., Ltd., Lockheed Martin Corporation, The Boeing Company, Israel Aerospace Industry Ltd., and AeroVironment, Inc. are implementing growth strategies to expand their market share in the small drone industry. These companies provide a wide range of services and products for industries ranging from infrastructure to entertainment, with drones being used for tasks like monitoring and precision agriculture. AI technology is being integrated into small drones to enhance their capabilities, allowing them to perform tasks autonomously without human intervention. However, challenges like government restrictions on drone usage for civil and commercial purposes remain obstacles for market growth. Small drones are gradually replacing manned aircraft in the defense sector due to their cost-efficiency and enhanced endurance capabilities, fueling market expansion. Innovative military applications continue to emerge, showcasing the versatility of small drones in transporting commercial and military payloads. The integration of cutting-edge technologies like AI and cloud computing is expected to drive demand for small drones across various sectors, enabling them to execute tasks autonomously. Companies like SZ DJI Technology Co., Ltd., Lockheed Martin Corporation, The Boeing Company, Israel Aerospace Industry Ltd., and AeroVironment, Inc. are leading producers in the small drone market, providing services and products to a variety of industries globally. Lockheed Martin Corporation focuses on research, design, and development of advanced technologies, aerospace, military, and security equipment. The Boeing Company offers a wide range of goods and services, including commercial jetliners and military aircraft systems for strike and vertical lift applications. Israel Aerospace Industry Ltd. is a prominent manufacturer in the defense sector, providing solutions like special mission aircraft and unmanned aerial systems (UAS). AeroVironment, Inc. creates cutting-edge products and services for government organizations and enterprises, with a focus on small drone-related services for the US Department of Defense and other ally countries.



Read more at GlobeNewswire: Small Drones Companies – The Boeing Company (US) and