New York, United States, Oct. 17, 2023 (GLOBE NEWSWIRE) -- A drone camera is a device that is installed within a drone to record video or take photographs while the drone is in flight. Drone cameras are utilized for various purposes, including product and food delivery, surveillance over a designated area, and thermal imaging. According to Straits Research, “The global drone camera market size is projected to USD 41,318 million with a CAGR of 30.1% during the forecast period.,”
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Key Drivers
Over the past few years, the drone industry has seen significant growth thanks to incorporating cameras with high resolutions and sophisticated sensor systems. Aeryon Labs, Inc.'s Aeryon HDZoom30 and FLIR Systems, Inc.'s SAFIRE series are two well-known drone cameras with sophisticated sensors. In addition, FLIR Systems, Inc. is recognized as a market leader in the production of thermal imaging cameras and other drone sensor systems, such as the SAFIRE series.
The growth of the drone camera market is primarily fueled by improved application areas such as precision agriculture, aerial imaging, cargo management, traffic monitoring, and security and surveillance. This is due to the continued availability of cutting-edge products. These sales are projected to grow profitably in the coming years due to the growing demand for safety, security, and surveillance.
Growth Opportunities
Rising global security and protection concerns have boosted the demand for drones in these applications. This has allowed drone manufacturers to develop and install safe, secure, and advanced components. The proliferation of drones has led to improved operations and results for nations worldwide. Delivery drones are becoming increasingly sophisticated, with sensors and cameras that help them maintain precision while delivering products.
Regional Insights
North America will hold the largest share among the other regions, with a CAGR of 30.7% during the forecast period. The growth of the drone camera market in North America is directly attributable to increased funds allocated to the defense sector. In addition, the North American market has gained traction due to the increased demand for drones in commercial and other applications, such as surveillance, weather analysis and forecasting, agricultural use, and inspection. Companies such as FLIR Systems, Inc., Garmin Ltd., and GoPro, Inc. are expanding their product lines in North America, contributing to the market's growth.
Asia-Pacific will hold the second-largest share in the market with a CAGR of 31.5% during the forecast period. Countries in the Asia-Pacific region have adopted drones due to increased security concerns across borders and disputed areas and the use of drones to deliver goods and medicines to remote areas. The increasing use of drones in numerous industries, such as manufacturing, construction, real estate, insurance, and tourism, drives the demand for drone cameras.
In addition, commercial drones are used in emergency management to reach vulnerable areas, plan rescue operations, document the situation's status, and for various other purposes. In addition, the growth of the media and entertainment industry, including film producers, journalists, and event organizers, is anticipated to be a significant factor in the expansion of the drone camera market in the coming years.
Key Highlights
- The military sector is expected to hold the largest share in the drone camera market with a CAGR of 31.7% during the forecast period.
- Based on type, HD camera is expected to have the largest share in the market, growing with the highest CAGR of 32% during the forecast period.
- Based on application, surveillance is expected to hold the largest share growing at a CAGR of 31.9% during the forecast period.
- Based on the resolution, 32 MP & above drone cameras are anticipated to have the largest share with a CAGR of 31.8% during the forecast period.
- Based on regional analysis, North America will hold the largest share among the other regions with a CAGR of 30.7% during the forecast period.
Competitive Players in the Market
- Aerialtronics DV BV.
- Canon Inc.
- Controp Precision Technologies Ltd.
- DJI
- DST Control
- FLIR Systems, Inc.
- Garmin Ltd.
- GoPro, Inc.
- Panasonic Corporation
- Sony Corporation
Market News
- In 2022, Canon Inc. announced the sale of a new "Grade 10" productivity upgrade option for its FPA-6300ES6a KrF semiconductor lithography equipment.
- In 2022, Canon Inc. developed a new technology called “Intelligent NR” for the control software that utilizes AI technology to reduce digital radiography image noise by up to 50%.
- In 2022, DJI unveiled three new tools, the DJI RS 3, DJI RS3 Pro and DJI Transmission, that will enable filmmakers and the content creation community to bring visions quickly, seamlessly, and intuitively to life.
Global Drone Camera Market: Segmentation
By Type
- HD camera
- SD camera
By Application
- Photography & Videography
- Thermal Imaging
- Surveillance
By End-User
- Commercial
- Military
- Homeland security
By Resolution
- 12 MP
- 12 to 20 MP
- 20 to 32 MP
- 32 MP and above
By Region
- North America
- Asia-Pacific
- Europe
- LAMEA
About Straits Research Pvt Ltd.
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