Rockville, Nov. 21, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, the global octocopter market is likely at US$ 3,447.6 million in 2023 and expected to grow at a CAGR of 18.1% during the forecast years of 2023-2033. Drone market is emerging and is also expected to witness greater peaks globally as they have the ability to provide access to different places.
These flying devices deliver thorough and useful information fast because of their speed and agility. Real-time footage that can be recorded for later analysis is now being captured by drones that are fitted with sensors and cameras. Unmanned aircraft systems can discover malfunctioning machinery and structures faster and more economically than conventional techniques. Utilizing drones is a practical solution that reduces the risk and expense of deploying aerial vehicles.
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Octocopter drones were employed by South American movies as a result of technological breakthroughs. Final seconds for a fair price and from every viewpoint. It is projected that the drone market would grow significantly over the course of the forecast period as a result of quadcopter drones becoming more advanced in the upcoming years.
Owing to technological developments in the artificial intelligence, machine learning, cloud services the demand for octocopters have increased to serve the society in case of emergency and to maintain the smart cities.
Key Takeaways from Market Study
- The global octocopter market is projected to grow 18.1% and reach US$ 18,197.8 million by 2033.
- The market witnessed 14.1% CAGR between 2018 and 2022.
- The octocopter will dominate the market with US$ 3,447.6 million valuations in 2023.
- Europe will dominate the market with 35.4% market share in 2023.
- Based on the payload capacity, 10-20 kg octocopter will witness the maximum market share of 47.8% in 2023.
Market Development
The market's major participants have been investing in R&D to create a superior technological architecture that allows for greater flexibility and efficiency. In the medium- to long-term forecast period, these improvements will fuel the octocopter market expansion.
It is anticipated that during the forecast period, more attention will be paid to API-based octocopter. Moreover, key players are working aggressively and investing a significant amount of money in the development of their infrastructure, allowing for more flexibility and efficiency. The development of the autonomous traffic management industry as a whole depends heavily on advancements in technological architecture.
Key Companies Profiled octocopter drone market-
- IDS Ingegneria Dei Sistemi S.p.A
- DJI
- Intel
- ASW
- Multirotor
- Botlink
- Tarot
- Xfold
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Segmentation of Octocopter Drone Industry Research
- By Payload :
- Below 10 Kg
- 10-20 kg
- Above 20 kg
- By Drone Type :
- Consumer / Civil
- Commercial
- Military
- By End User :
- Healthcare
- Food & Beverage
- Industrial
- Military
- Agriculture
- Delivery & Logistics
- Construction
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global octocopter market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of payload (Below 10 Kg, 10-20 kg, Above 20 kg), Drone Type (Consumer / Civil, Commercial, Military), End Users(Healthcare, Food & Beverage, Industrial, Military, Agriculture, Construction, Delivery & Logistics) across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
For more insights –
Drone Market: The global drones market is anticipated to reach US$ 30 Billion by the end of 2022, anticipated to experience an impressive 25% CAGR from 2022-2032 to reach US$ 279 Billion by the end of the aforementioned forecast period.
Europe Drones Market: The European drones market is projected to balloon at 21.9% CAGR and reach a market valuation of US$ 55.2 billion by 2032, thereby creating an absolute dollar opportunity worth US$ 47.6 billion during the forecast years of 2022-2032.
U.S. Drone Market: The U.S. drone market is projected to expand rapidly at 22.2% CAGR to reach a market valuation of US$ 82.9 billion by 2032, up from US$ 11.1 billion in 2022. Demand is surging due to the high usage of drones for both, commercial and recreational purposes, along with the incorporation of advanced technology undertaken by drone manufacturers in the market, with the western region of the country accounting for bulk of the market share.
Autonomous Drone Market: The global autonomous drone market is expected to reach a valuation of US$ 15,634.7 million in 2023 and is expected to progress at a CAGR of 19.3% to reach US$ 91,304.8 million by the end of 2033. In 2023, the global drone market is estimated to be valued around US$ 33.9 billion, while the drone market is projected to grow at 17.6% CAGR.
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.
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