Market Share of Electric Unmanned Aerial Vehicle Industry
The electric unmanned aerial vehicle market is fragmented and has many active players. Some prominent ones are AeroVironment, Inc., AgEagle Aerial Systems Inc., SZ DJI Technology Co., Ltd., Parrot Drones SAS, and Draganfly Inc. The prevalent economic situations primarily influence the sales of technology-based platforms such as UAVs in dominant markets such as the US and Europe. Hence, in periods of economic downturn, purchases may be subjected to deferral or cancellation and a relatively slower adoption rate, which, in turn, can adversely affect the market dynamics. Product innovation is a primary focus in the E-UAV market, and associative component vendors continuously invest in R&D activities to enhance their product offerings.
The market players intend to devote significant resources and efforts to capitalizing on UAVs' technological proficiency and enhancing their penetration into the rapidly evolving commercial segment of the e-UAV market. Diversification of geographical markets, in tandem with product offerings, would be a key criterion for ensuring profitability and survival in the long run.
In September 2023, Teal Drones signed a USD 1.8 million contract with the US Customs and Border Protection to provide Teal 2 systems to US Border Patrol. Teal drones will deliver 106 Teal 2 drones plus spare parts and training. The US Border Patrol uses the Teal 2 drone to provide situational awareness for US field commanders and agents. Teal Drone has partnered with ESAero for a multi-battery charger, an accessory with the Teal 2 drones. ESAero’s multi-battery charger will enable charging backup batteries while the UAV is in operation to support persistent ISR missions.
Electric Unmanned Aerial Vehicle Market Leaders
AeroVironment, Inc.
AgEagle Aerial Systems Inc.
SZ DJI Technology Co., Ltd.
Parrot Drones SAS
Draganfly Inc.
*Disclaimer: Major Players sorted in no particular order
