Drone Camera Market Worth USD 41.31 Billion | CAGR of 30.1%

Introduction

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. The increased use of drones in various industries has increased the demand for high-resolution cameras capable of capturing high-quality images from a wider angle that can be mounted on drones. In addition, an increase in defence spending has encouraged governments of various nations to collaborate with drone and component manufacturers to offer better and more advanced products, which contributes to expanding the global drone camera market. The primary factors driving the expansion of the global market for drone cameras are the introduction of technologically advanced products and the projected growth rate of the drone industry. However, privacy and security concerns and the availability of high-resolution satellite imagery limit the market growth of drone cameras.

Market Dynamics

The Advent of Technologically Advanced Products Drive the Global Market

Over the past few years, the drone industry has seen significant growth thanks to incorporating cameras with high resolutions and sophisticated sensor systems. This is one of the primary reasons for the drone camera market growth. Because of this, leaders in the industry have been forced to further improve the product portfolios they offer. 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. Drone manufacturers worldwide favour GoPro, Inc.'s Hero camera because of its advanced voice control and video stabilization features. This camera is just one example of the company's innovative line of cameras and mounting accessories. As a result, it is anticipated that persistent innovation and the availability of products that feature advanced technological capabilities will stimulate drone camera market expansion.

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. As the drone camera market is expanding, it is anticipated that there will be a significant increase in demand over the next few years. This is due to the continued availability of cutting-edge products. The global sales of drones reportedly surpassed 8.3 million units in 2019, as stated in a report published by the Federal Aviation Administration. These sales are projected to grow profitably in the coming years due to the growing demand for safety, security, and surveillance.

Demand for Drones across Developing Nations to Create Opportunities for the Global Market

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. In contrast, the increasing popularity of contactless product delivery has made it possible for numerous businesses to adopt drones. 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 defence 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 of USD 17,202 million 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 global drone camera market had a revenue share of USD 5.03 billion in 2021, projected to USD 41.31 billion with a CAGR of 30.1% 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 end-user, 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 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

1. Aerialtronics DV BV
2. Canon Inc.
3. Controp Precision Technologies Ltd.
4. DJI
5. DST Control
6. FLIR Systems, Inc.
7. Garmin Ltd.
8. GoPro, Inc.
9. Panasonic Corporation
10. Sony Corporation

Recent Developments

• April 2024 - The DJI Avata 2, which promises an improved, user-friendly flying experience with major improvements in safety and imaging technology, was formally released by DJI, the industry leader in the civilian drone market. This new model is designed to improve first-person view (FPV) flying, making it more accessible and engaging for all users.
• April 2024 - DJI announced the launch of the DJI tiny 4K, a new 4K tiny camera drone designed for novices. At 9 a.m. EDT on April 29, the DJI Mini 4K made its debut on Amazon. The new DJI drone looks exactly like the Mini 2 SE, which was recently reduced to USD 279, the lowest price for any drone in the DJI Mini series.

Segmentation

1. By Type
   1. SD camera
   2. HD camera
2. By Application
   1. Photography & Videography
   2. Thermal Imaging
   3. Surveillance
3. By End-User
   1. Commercial
   2. Military
   3. Homeland security
4. By Resolution
   1. 12 MP
   2. 12 to 20 MP
   3. 20 to 32 MP
   4. 32 MP and above