The global drone industry has been thriving over the last decade and its application has expanded over a large number of end-applications across various industries. Huge benefits have been registered with the introduction of drones in the defense, commercial, and consumer sectors. In the commercial sector, drones are being used for inspection, site monitoring and construction activities, in addition to this, consumers are using drones for recreational activities such as photography. Technological advancement has helped in the widespread adoption of drones across various industries, and with this advancement, an inevitable need for miniaturization of this technology has emerged. Thus, nano drones have come into existence.
Nano drones have become popular with the consumer application such as aerial photography and other recreational activities. The ease of handling, high portability, low weight, and advanced nano sensors are the major advantages provided by the nano drones. Now with the development of nano auto pilot and integration of GPS, nano drones are capable of autonomous flight. Due to these exceptional qualities, nano drones are being used extensively in military and law enforcement activities that require to perform critical operations. The U.S. is leading the innovations and development in the nano drones industry as it is one of the early adopters of this technology.
The global nano drone market is being driven by the heavy demand in the consumer market for recreational activities, owing to their low cost and less weight which is suitable for kids. Besides this, nano drones are becoming increasingly popular for aerial photography, equipped with HD camera for videos and images. Furthermore, military and law enforcement agencies have started utilizing nano drones for various operations such as search and rescue, surveillance, reconnaissance, object identification and situational awareness, among others. All of these application areas are collectively driving the nano drone market forward.
The nano drone market also depends on the regulatory bodies that have a significant role in shaping the future growth of the market. This regulatory framework is built by consortiums and associations, which help the users and vendors to familiarize with the ongoing changes in this rapidly growing industry. Some of the prominent consortiums are the Association for Unmanned Vehicle Systems International (AUVSI), UAV Systems Association (UAVSA), and the Association of Remotely Piloted Aircraft Systems U.K. (ARPAS U.K.), among others. Although, nano drones are free from any government regulations in most of the country as they weigh less and are tiny in size.
The global nano drones market generated $284.45 million in 2016 in terms of revenue and is expected to grow substantially over the next few years. Among various application industries, military and law enforcement segment is expected to register the highest revenue by 2023, whereas, the consumer segment is expected to grow at the highest rate by 2023. BIS Research has conducted an extensive market research on ‘Global Nano Drones Market – Analysis and Forecast 2017-2023’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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