Drone Sensor Market Forecast, Business Strategy and Key Vendors 2027
Market Analysis
The global drone sensor market will touch USD 934.4 million at a 25.86% CAGR in the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.
Drivers
Increasing Spending on Drones in Defense Industry to Boost Market Growth
The increasing spending on drones in the defense industry for ISR (intelligence, surveillance & reconnaissance) missions and for homeland security will boost market growth over the forecast period.
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Opportunities
Growing Need for Higher Resolution Imaging to offer Robust Opportunities
The growing need for higher resolution imaging for surveying and mapping and accurate positioning for an accurate navigation will offer robust market opportunities in the forecast period.
Restraints
Hacking of Drones to act as Market Restraint
The hacking or tampering of drones may act as a market restraint over the forecast period.
Challenges
High Price of Sensors to act as Market Challenge
High price of sensors and short life span may impede the Drone Sensor Industry over the forecast period.
COVID-19 Analysis
Worldwide businesses have experienced mixed emotions on the COVID-19 impact. There are some markets that had a downward slope in their growth while there are others that had an unprecedented demand amid the lockdowns. Bodies and governments alike are monitoring the situation constantly through drones and remote mediums. The unexpected adoption of drones has boosted the demand for drone sensors during the pandemic.
Market Segmentation
By sensor type, the drone sensor market is segmented into current sensor, light sensor, pressure sensor, position sensor, speed and distance sensor, image sensor, inertial sensor, and others. Inertial sensor is again segmented into tilt sensor, magnetometers, gyroscope, and accelerometers. Image sensor is again segmented into 3D image sensor, multispectral, thermal, and infrared. Speed and distance sensors are again segmented into position sensors in GPS and GNSS, lidar and proximity sensor, and radar.
By platform type, the hybrid platform will lead the market over the forecast period and at a high CAGR.
By application, the drone sensor market is segmented into power monitoring, air pressure measurement, motion detection, data acquisition, collision detection and avoidance, navigation, and others.
By end user, the defense and security and surveillance segment will dominate the market over the forecast period.
Regional Analysis
North America to Dominate Drone Sensor Market
North America will dominate the market over the forecast period. Increasing applications of drones in media and entertainment, security and surveillance, and military and defense, increasing use of drones to cover numerous sporting events by leading media houses, rising adoption of drones in precision agriculture, the oil and gas industry being a major contributor for the increasing use of drones for inspecting oil and gas pipelines, increasing use of military drones for various operations such as targeting, reconnaissance, and surveillance, and the booming ICT industry in the US are adding to the global drone sensor market growth in the region.
Key Players
Eminent players profiled in the global drone sensor industry report include Trimble (US), Bosch Sensortec (Germany), TDK InvenSense (Japan), Sparton NavEx (US), Raytheon (US), ams AG (Austria), Infineon Technologies AG (Germany), PrescisionHawk (US), Sentera, Inc. (US), and SlantRange (US). Apart from the top key players, there are other players that contribute to the drone sensor market growth. These include MicaSense (US), Delair (France), Systron Donner Inertial (US), DroneShield Limited (Australia), and others.
The drone sensor technology market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new.
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