Earth observation drones are unmanned aerial vehicles equipped with various sensors and imaging technology to capture data and images of the Earth's surface from the sky. These drones are used for a wide range of applications, including environmental monitoring, disaster management, agriculture, and urban planning. They provide high-resolution, real-time imagery and data that can help researchers, businesses, and government agencies make informed decisions and assessments. Earth observation drones offer a cost-effective and versatile means of collecting critical information for a variety of purposes, contributing to more efficient and sustainable Earth management.
The global Earth observation drones market was valued at $9,014.6 million in 2021, and it is estimated to reach $18,214.9 million by 2032 at a compound annual growth rate (CAGR) of 6.88% during the forecast period 2022-2032. The major factor driving the market growth is expected to be the growing adoption of drones for industrial and commercial applications. During the COVID-19 pandemic period, the adoption of drones for commercial applications such as solar panel inspections, pipeline inspections, oil and gas field monitoring, and agriculture monitoring witnessed a significant rise. Civil-government agencies have also started adopting drones for applications such as border surveillance, civilian monitoring, disaster management, etc.
A Paradigm Shift in Space Travel
In-orbit refueling represents a paradigm shift in space travel. It involves the transfer of fuel, propellants, or consumables between spacecraft in the vacuum of space. This technology allows spacecraft to break free from traditional constraints, such as limited fuel supplies, and opens up a world of possibilities.
Cost Efficiency
The launch of payloads into space is an expensive affair. Every kilogram of cargo sent into orbit requires extensive investments in rocket technology, fuel, and launch infrastructure. In-orbit refueling offers a cost-effective solution by reducing the need for heavy fuel loads during launch. It's a game-changer for missions with longer durations.
Satellite Servicing
The space in-orbit refueling market holds great promise for the satellite industry. It enables the servicing and repositioning of satellites that have exhausted their fuel reserves or require maintenance. By extending the operational life of satellites, this technology reduces space debris and contributes to a more sustainable space environment.
Deep Space Exploration
One of the most exciting prospects of in-orbit refueling is its potential to revolutionize deep space exploration. With the ability to refuel spacecraft on the go, we can venture beyond Earth's orbit, opening doors to lunar bases, Mars missions, and even interstellar travel. This innovation paves the way for unprecedented scientific discoveries and human exploration.
The rotar-wing drone type market is leading the segment mainly because its frame offers vertical take-off capabilities, which makes it feasible for one to fly it easily in different geographies, environments, and terrains with minimal space requirements. Its structure also allows it to carry heavy payloads and move about in any direction easily. Rotor wing drones also have higher hovering capacity, which is useful for Earth observation applications. Moreover, rotor-wing drones are cost-effective as compared to other drone types, especially for Earth observation applications that require minimal payloads, such as cinematography.
North America to Dominate Earth Observation Drones Market Over the Forecast Period
The North America region has two key countries driving the growth, i.e., the U.S. and Canada. In the U.S., Earth observation drones are gaining significant traction for agriculture monitoring, border management, and critical infrastructure inspection, while in Canada, the usage of drones for environmental monitoring and surveillance is accelerating market groth.
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This growth is driven by the increasing use of Earth observation drones in the countries such as the U.K., France, Germany, Ukraine, and Russia. These countries are investing heavily in surveillance and reconnaissance drones owing to the ongoing geopolitical tensions in the region. Besides this, in December 2021, the European Union Aviation Safety Agency (EASA) approved a new set of uniform laws for the European Union (EU) countries, including the U.K., Norway, Iceland, and Liechtenstein. Earlier, each country had its own set of rules; however, bringing all EU countries under a singular set of rules has facilitated easy operations of drones throughout the region. This factor is benefitting the commercial Earth observation drones operators and manufacturers in the region.
Recent Developments in the Earth Observation Drones Market
- In April 2022, ideaForge Technology Private Limited completed a Series B funding round of $20 million led by Florintree. The existing investors of the company Celesta Capital, a prominent deep tech investment fund, Infosys, Qualcomm, and Infina, along with the Exim Bank of India, also participated. The company aims to utilize this funding for team expansions, research and development, and extending its reach internationally.
- In March 2022, the Australian Government contracted Insitu Pacific Pty Ltd to deliver the new Tactical Integrator Unmanned Aerial System (UAS) to the Australian Army under LAND129 Phase 3. The contract includes delivery, initial support of the UAS and associated ground systems, and prime systems integrator services. The delivery is expected to run through 2023 and 2024.
- In January 2022, Azur Drones secured funding of nearly $9 million from a private French investor. This funding will support the company’s development in 2022 as the company aims to introduce new solutions in the areas of industrial inspection, gas detection, and quantification, as well as accelerate its international growth.
- In January 2022, the world's first “Sea-Air Integrated Drone” was disclosed during a flight showcase at the Hakkeijima Sea Paradise in Yokohama by Japanese telecommunications company KDDI, Prodrone Co., Ltd, and QYSEA.
- In August 2021, Shield AI secured $210 million in a Series D funding round, which was led by Disruptive, a U.S.-based late-stage technology investor, with participation from multiple top-tier venture funds, including Point72 Ventures. The company aims to accelerate its plans for growth across the defense and commercial industries.
Competitive Landscape
The competitive landscape of the Earth observation drones market consists of several organic and inorganic strategies followed by the key players to increase their market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.
Some of the key players in the Earth observation drones market include DJI, Parrot Drone SAS, Lockheed Martin Corporation, Northrop Grumman Corporation, Hubsan, Evolve Dynamics, AgrowSoft LLC, Gryphone Dynamics, Asteria Aerospace Limited, Atmos UAV, Drone Volt, Novadem, Teledyne FLIR LLC, Wingtra AG, Yuneec International, Ehang, and Insitu Inc. These companies are aiming for a wide range of partnerships, collaborations, agreements, and contracts to expand their operations and increase their market presence globally to generate revenues and attract new customers.
