Market Size of Asia Pacific Small UAV Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asia-Pacific Small UAV Market Analysis
The Asia-Pacific Small UAV Market is projected to grow at a CAGR of over 15% during the forecast period.
The COVID-19 pandemic had a moderate effect on the Asia-Pacific Small UAV Market. Although, during the pandemic, various countries worldwide witnessed an increase in the usage of drones by public authorities in order to curb pandemic-related issues. But on the other hand, rules and regulations related to border restrictions led to interruptions in the free flow of the raw materials needed by the manufacturers. This in turn hampered the production of the small UAVs and various manufacturers worldwide witnessed a decline in their revenues. The decline in the pandemic led to the opening up of border restrictions by various countries thus presenting a window of opportunity for manufacturers to receive the raw materials in order to increase the production of small UAVs. Thus, this will lead to the market witnessing gradual growth during the forecast period.
The effectiveness of a small UAV is not limited to making deliveries and undertaking high-end photography missions or as surveillance devices or weaponized tools for the military. UAVs possess tremendous potential to transform urban and rural infrastructure and enhance agricultural productivity in developing countries. In addition, drones are also seen as a possible solution to infrastructure problems, especially in underdeveloped regions of Asia-Pacific, where air transportation could help meet the challenges posed by poor or non-existent road and rail networks. Thus, development and advancement in drone technologies will lead to various manufacturers manufacturing advanced drones and this will propel the growth in the market during the forecast period.
