Market Size of Europe Drones Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 7.32 Billion |
| Market Size (2029) | USD 11.07 Billion |
| CAGR (2024 - 2029) | 8.62 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Drones Market Analysis
The Europe Drones Market size is estimated at USD 7.32 billion in 2024, and is expected to reach USD 11.07 billion by 2029, growing at a CAGR of 8.62% during the forecast period (2024-2029).
Though the COVID-19 pandemic has affected the recreational and entertainment sector and the related drone operations in 2020, other industrial sectors rebounded quickly in 2021, fueling the rebound in the drone demand. On the other hand, the advent of the pandemic has also helped the industry witness new use cases, especially from the law enforcement applications for monitoring the enforcement of COVID-19 measures.
With the advancements in drone technologies, drone manufacturers are now providing a wide range of drone models in various sizes, weights, and payload carrying capabilities to support the broad range of commercial applications.
The changes in drone regulations made by the European Union Aviation Safety Agency (EASA) are supporting the deployment of drones in various sectors, like infrastructure, agriculture, transport, entertainment, and security. However, factors like strict regulations for beyond the visual line of sight operations of drones, security and safety concerns, and lack of trained pilots, are anticipated to hamper the growth of the market during the forecast period.
