The global drone sensor market size is projected to reach USD 2342.1 million by 2028 owing to the increasing adoption from the defense industry, states Fortune Business Insights™ in its report, titled “Drone Sensor Market, 2021-2028”. The report further states that the global market value was USD 394.7 million in 2020 and is expected to register a CAGR of 25.08% from 2021 to 2028.
COVID-19 Impact
The COVID-19 pandemic has been a positive driver for the global drone sensor market. Various commercial end-user industries have initiated the adoption of drones for their operations amid the pandemic. Based on our analysis, the global market has experienced higher growth of 20.25% in 2020 compared to the average year-on-year growth during 2017-2020.
Department of Défense Awards Multiple Contracts for Drown Implementation
In July 2020, Air Map, Modal AI, Sky dio, Graffiti Enterprises, and Obsidia Sensors were awarded different contracts worth USD 13.4 million by the innovation arm of the Défense Department from the U.S. The contracts were given under the Defense Production Act. The primary aim of these contracts was to provide technical support, analyse, and enhance the technology integration with human beings for the new programs of the Department of Defense (DOD). The department also required AI-enabled drone capabilities from drones to assess the uncharted territories.
Image Sensors Segment to Register Highest CAGR
We have categorized the market on the basis of sensor type, application, platform, and geography. In terms of sensor type, the market is divided into inertial sensors, image sensors, speed & distance sensors, position sensors, pressure sensors, ultrasonic sensors, altimeter sensors, current sensors, light sensors, and others. The image sensors segment is estimated to showcase the highest CAGR by 2027 due to the high popularity of aerial photography in the commercial sector.
Based on application, it is fragmented into navigation, collision detection and avoidance, data acquisition, motion detection, air pressure measurement, power monitoring, and others. On the basis of platform, the market is bifurcated into fixed-wing, hybrid, and VTOL. The VTOL segment held the highest drone sensor market share in 2020. The segment growth is highly backed by the increasing demand from the military and defense sector.
Browse Summary
https://www.fortunebusinessinsights.com/drone-sensor-market-102596
