LONDON, Oct. 26, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the nano drone market, growing technological advancements are shaping the nano-drones market. In recent years, nano-drone technology has advanced intensely, allowing them to fly faster and deeper than ever before, as well as carry out complex surveillance missions.
For instance, in December 2020, BAE Systems, a UK-based aerospace company in collaboration with UAVTEK, a UK-based drone manufacturer developed a super lightweight bug drone based on nanotechnology. The bug is a nano-unmanned aerial vehicle (UAV) that weighs 196g, about the same as a smartphone, has a 40-minute battery life, and a range of 2 kilometers. During a recent Army Warfighting Experiment (AWE) program conducted by the Ministry of Defence’s Future Capability Unit, it was the only nano-UAV capable of surviving the harsh weather.
The nano drones market consists of sales of nano drones by entities (organizations, sole traders, and partnerships) that manufacture extremely small drones or remote-controlled aircraft used in various military and non-military applications. Nano drones are used by military officials for confidential operations such as search and rescue, reconnaissance, surveillance, and situational awareness, among others. They are built with smaller-sized rotors and motors and hence are light in weight, small in size portable, and easier to control and navigate.
Major players in the nano drones industry are AeroVironment Inc., Aerix Drone, Extreme Fliers, Drona Aviation Pvt Ltd, Guangdong Cheerson Hobby Technology Co. Ltd, Mota Group Inc., Parrot SA, Prox Dynamics, Skyrocket Toys LLC, Horizon Hobby, Lockheed Martin, Israel Aerospace Industries, Elbit Systems, Dajiang Innovation Technology Co., BAE Systems, The Boeing Company, Thales Group, and Textron.
The Business Research Company’s report titled Nano Drones Global Market Report 2023 – By Type (Fixed Wing Nano Drones, Rotor Nano Drones, Flapping Wing Nano Drones), By Payload (Camera, Control Systems, Tracking Systems), By End User (Consumer, Military Or Law Enforcement), COVID-19 Implications And Growth covers major nano drones companies, nano drones market share by company, nano drones manufacturers, nano drones market size, and nano drones market forecasts. The report also covers the global nano drones market and its segments.
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North America was the largest region in the nano drones market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nano drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The global nano drones market size is expected to decline from $757.11 million in 2020 to $974.75 million in 2023 at a compound annual growth rate (CAGR) of 28.7%. The change in growth trend of the nano drones market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The nano drone market is expected to reach $2,568.85 million in 2025 at a CAGR of 27.4%.
The main types of nano drones are fixed-wing nano drones, rotor nano drones, flapping-wing nano drones, and others. Fixed-wing nano drones are used for ISR missions, surveying and mapping, search and rescue, and other aerial applications. The different payloads of nano drones include cameras, control systems, tracking systems, others and are used by various end-users such as consumers, military or law enforcement, and others.
Nano Drones Global Market Report 2023 – COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provide nano drones market overviews, nano drones market analyze and forecast market size and growth for the whole market, nano drones market segments and geographies, nano drones market trends, nano drones market drivers, nano drones market restraints, nano drones market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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