Perception of Drones as Source of Leisure & Utility to Support Europe Drone Market Growth, States Fact.MR
Demand for drones across Europe is anticipated to reach a market valuation of US$ 55.2 billion by 2032-end.
ROCKVILLE, MARYLAND, UNITED STATES, June 2, 2022 /EINPresswire.com/ — The Europe drone market is estimated at US$ 7.6 billion in 2022 and is predicted to register an impressive growth of 21.9% CAGR through 2032. The market registered yearly growth of 16.6% during 2017 to 2021, as per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider.
Drones find high usage in the military; however, with growing advancements, they are now being used for commercial and recreational purposes as well. Drones are now being perceived as a source of utility and leisure, and are being used for entertainment purposes as well, besides other commercial uses. For example, they are being widely used for recording videos, and also in the film, television, and photography industries.
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Key Takeaways from Market Study
• The Europe drone market is estimated to reach a valuation of US$ 55.2 billion by the end of 2032.
• The market witnessed 16.6% growth rate during the years 2017-2021.
• Under drone type, military drones lead with 50.3% share of the overall market in 2022.
• Commercial drones account for 33.8% market share and are projected to rise at 22.3% CAGR during the forecast years of 2022-2032.
• Under end use, construction and mining dominates by holding 27.8% market share and is likely to expand at a CAGR of 22.9%.
• Germany leads the market with 18.2% = share and is projected to surge ahead at 20.3% CAGR during the forecast years.
• Together, Germany and the U.K. are likely to represent 33.8% of the overall market share in 2022.
“Augmented demand for drones for recreational and commercial purposes coupled with advancements in drone technology is anticipated to drive the European drone market over the coming years”, says a Fact.MR analyst.
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Europe Drone Industry Survey by Category
• Europe Drone Market by Drone Type :
o Consumer/Civil Drones
o Commercial Drones
o Military Drones
• Europe Drone Market by Product Type :
o Fixed Wing Drones
o Rotary Wing Drones
o Hybrid Drones
• Europe Drone Market by Payload :
o Drones up to 25 Kg
o 25 Kg- 50 Kg
o 50 Kg – 100 Kg
o 100 Kg -1150 Kg
o Above 150 Kgs
• Europe Drone Market by Power Source :
o Electric Drones
o Gas/Gasoline/Diesel Drones
o Hybrid Drones
• Europe Drone Market by End Use :
o Agriculture & Forestry
o Delivery & Logistics
o Media & Entertainment
o Construction & Mining
o Oil & Gas
o Security & Law Enforcement
o Recreational Activity
• Europe Drone Market by Sales Channel :
Direct to Consumer
Modern Trade Channels
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Prominent drone manufacturers in Europe are witnessing enhanced competition in the market it has seen immense development in terms of innovation and advancement in technology. Owing to the increased application of drones in different end-use industries, companies in the market are focusing on the cost reduction of drones to make them more accessible.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Europe drone market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by drone type (consumer/civil, commercial, military), product type (fixed wing, rotary wing, hybrid wing), payload (up to 25 kg, 25 kg-50kg, 50 kg-100 kg, 100 kg- 150 kg, above 150 kgs), power source (electric, gas/gasoline/diesel, hybrid), end use (agriculture & forestry, delivery & logistics, media & entertainment, construction & mining, oil & gas, security & law enforcement, recreational activity, others), and sales channel (OEMs, aftermarket (online stores (direct to customer, third-party online), modern trade channels, electronic stores (franchised store, independent stores), others), across major countries in Europe (Germany, Italy, France, Spain, U.K., Russia, BENELUX, and the Rest of Europe)
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