Overview and Scope
Nano UAVs (unmanned aerial vehicles) refer to small, lightweight, and often compact UAVs that are designed for various applications, including reconnaissance, surveillance, data collection, and monitoring in environments where larger drones or traditional aircraft may not be practical or feasible. They are typically less than 15 cm in size and weigh less than 100 grams, and they are used for search and rescue missions due to their ease of maneuvering in challenging terrain and confined areas.
Sizing and Forecast
The nano UAV market size has grown exponentially in recent years. It will grow from $1.53 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to military operations, counter-terrorism operations, border surveillance, law enforcement, and disaster response.
The nano UAV market size is expected to see exponential growth in the next few years. It will grow to $5.35 billion in 2028 at a compound annual growth rate (CAGR) of 28.4%. The growth in the forecast period can be attributed to commercial applications, surveillance for critical infrastructure, emergency response and healthcare, smart cities and urban planning, environmental monitoring. Major trends in the forecast period include autonomous systems integration, miniaturization and payload innovation, increased commercial adoption, swarm technology, energy efficiency and extended endurance.
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Segmentation & Regional Insights
The nano UAV market covered in this report is segmented –
1) By Product Type: Fixed Wing, Rotary Wine, Other Products2) By Class Type: Small Unmanned Aerial Vehicle (UAV), Tactical Unmanned Aerial Vehicle (UAV), Strategic Unmanned Aerial Vehicle (UAV), Special Purpose Unmanned Aerial Vehicle (UAV)3) By Propulsion System: Hydrogen Cell, Solar Cell, Lithium-Ion4) By Application: Civil and Commercial, Military, Homeland Security, Other Applications
North America was the largest region in the nano UAV market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nano uav market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in the defense budget is expected to propel the growth of the nano UAV market going forward. A defense budget refers to the portion of a government's overall budget allocated specifically for defense and military-related expenditures. A higher defense budget often leads to increased procurement of military equipment, including UAVs. Nano UAV manufacturers may benefit from government contracts and orders for these smaller unmanned systems to support various defense operations, intelligence gathering, surveillance, reconnaissance, and target acquisition missions. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based institute and independent resource on global security, world military expenditure increased by 3.7% in real terms in 2022 to reach a record high of $2,240 billion. Military expenditure in Europe rose by 13% during the year. US military spending also increased by 8.8% in nominal terms between 2021 and 2022, but real spending increased by 0.7% over that same time due to an 8.1% inflation rate. Therefore, the increase in the defense budget is driving the growth of the nano UAV market.
Key Industry Players
Major companies operating in the nano uav market are The Boeing Company, Lockheed Martin Corporation, Intel Corporation, Northrop Grumman Corporation, Thales Group, Textron Inc., Elbit Systems Ltd., Teledyne Technologies Inc., Saab AB, Israel Aerospace Industries Ltd., DJI (Dà-Jiāng Innovations) Technology Co. Ltd., AeroVironment Inc., Yuneec International Co. Ltd., Parrot SA, Microdrones GmbH, 3DR (3D Robotics), senseFly Ltd., Flyability SA, Delair Tech SAS, PrecisionHawk Inc., Aeryon Labs Inc., Kespry Inc., Nimbus Maps Ltd., Altavian Inc., Quantum Systems GmbH
The nano uav market report table of contents includes:
1. Executive Summary2. Nano UAV Market Characteristics3. Nano UAV Market Trends And Strategies4. Nano UAV Market - Macro Economic Scenario5. Global Nano UAV Market Size and Growth...32. Global Nano UAV Market Competitive Benchmarking33. Global Nano UAV Market Competitive Dashboard34. Key Mergers And Acquisitions In The Nano UAV Market35. Nano UAV Market Future Outlook and Potential Analysis36. Appendix
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