Drone Motors Market to Soar at 28.4% CAGR Through 2030; Potential for Remote Covid-19 Tracking Applications to Sustain Demand
Drone motor manufacturers seek strategic contracts with corporations, local governments and armed forces to sustain revenues through sustainable sales programs.
ROCKVILLE, MD / ACCESSWIRE / July 28, 2020 / The global drone motor market is anticipated to expand exponentially with a 28.4% CAGR between 2020 and 2030. According to a recent Fact.MR report, the covid-19 pandemic has created a number of growth opportunities, as drone technologies have found roles in tracking and monitoring the spread of the contagion. However, the drone motors market is being held back in the short term by trade and supply chain restrictions arising during the lockdown period.
“The widespread use of drones as only toys or weapons, has limited the scope of market expansion. With growing investments towards commercial transport applications, and favorable changes to regulations drone motor manufacturers can potentially bolster revenues in the long term,” says the FACT.MR study.
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Drone Motor Market- Key Takeaways
- Motors for commercial drones will account for major revenue share, supported by rapidly rising e-commerce, real-estate, and agriculture sector applications.
- Fixed wing motors are highly sought after owing to applications in long duration flights, which are required by drones to cover larger areas.
- North America is a major drone motor market, owing to favorable government policies towards the development of drone technologies for civil and military applications.
Drone Motor Market- Driving Factors
- Expansion of drone roles from military applications to energy, entertainment, and agriculture among others has influenced the market positively.
- Developments in hybrid, electric, and renewable power drone motors will increase scope of applications.
Drone Motor Market- Key Restraints
- Widespread restrictions on the use of drones for recreational purposes holds back demand.
- Lack of adequately trained drone operators is a key factor hindering market growth.
COVID-19 Impact on Drone Motor Market
Drones are finding a wide range of roles during the covid-19 pandemic. Drone technologies are being used for crowd management, remote delivery of medication, disinfecting suspected areas, tracking potential patients, and disseminating critical information on the pandemic to the public. Consequently, the demand for drones and components such as motors has also gone up sharply. On the other hand, trade restrictions and suspension of production activities in many parts of the world will create a gap between demand and supply in the months to come, hurting short term prospects.
Explore the global Drone Motor Market with 205 figures, 70 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/1888/drone-motor-market
Competitive Landscape
FPV Model, Nidec Group, EMAX US Inc., Parrot Drone SAS, Hobbymate, Faulhaber Group, X-Team RC, Align Corp. Ltd., and Sunnysky Motors are some of the more prominent drone motors market players.
Participants in the drone motors market are pushing for strategic acquisitions, industry collaborations and production process improvements aimed towards widening product portfolios and customizing supplies for end users.
For example, Nidec Corp. has acquired CIMA S.p.A. for the development of new drone platform with an emphasis on motors for commercial, industrial and recreational applications. Parrot Drone SAS is collaborating with NEOTech to create drone prototypes for the US Army, including motor components. Linear Labs has introduced its stock of electric drone motors aimed towards small scale academic and recreational applications, including underwater marine uses.
About the Report
This study offers readers a comprehensive market forecast of the drone motors market. Global, regional and country-level analysis of the latest industry trends impacting the drone motors market is covered in this FACT.MR study. The report offers insights on the drone motors market on the basis of drone type (fixed wing, multi-rotor, single rotor, and fixed-wing hybrid), motor type (brushless DC motor, brush-fed motors) power (<50W, 50W to 200 W, and more than 200 W), drone category (commercial and consumer) and sales channel (OEM and aftermarket), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the automotive sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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SOURCE: Fact.MR
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