Drone Motors to Witness 20% Drop in Sales amid Covid-19, Market forecast to Register Stupendous Growth through 2030, Projects Fact.MR
Published : 08 May 2020 Industry: Automotive
The global drone motor market was valued at US$ ~738 Mn in the year 2019 and is anticipated to surpass US$ ~7.3 Bn during the forecast period (2020-2030).
Multi-rotor drones are projected to be the most lucrative, capturing more than three fourth of the overall demand pie in the global drone motors market. Various retail and logistics companies across the globe are formulating different ways of testing drone delivery services and drone delivery systems to solve the problem of "last mile" deliveries.
Presently, drones and robot deliveries are not as far-fetched as they seem and many companies are expected to eventually integrate these in the future, unlocking growth avenues for drone motor manufactures. However, the recent COVID-19 pandemic has negatively affected the growth of the drone motors market. Demand for drone motors is expected to witness a decline in 2020 on the back of the COVID-19 pandemic. The market for drone motors is forecast to witness a dexterous CAGR of 28.4%
Key Takeaways of Drone Motor Market Study:
- The global drone motor market is estimated to create an absolute $ opportunity of more than US$ ~6.7 Bn, expanding ~12X from 2020 through 2030.
- Multi-Rotor segment is projected to surpass market valuation of US$ ~104 Bn by the end of 2030.
- Brushless DC Drone Motors is estimated to be the most lucrative motor type in the global drone motors market, expected to gain 389 BPS over the course of the forecast duration.
- South Asia is projected to grow 1.2X faster than East Asia. Furthermore, North America is estimated to account for a major chunk of the demand pie by the end of the forecast period.
- Collectively, below 50W and 50W to 200W power segments are estimated to hold ~60% of the overall value opportunity created by the end of the forecast period.
“The ongoing spread of the COVID-19 pandemic across the globe will delay economic resurgence. Demand for drone motors is estimated to be impacted & foreseen to witness a sharp downfall amid COVID-19 pandemic. However, the market is set to regain traction by the end of the fourth quarter" says the Fact.MR analyst.
Strategic Acquisitions will Pave Way for Remunerative Opportunities
Some of the prominent players in the drone motors markets are: Nidec Group, Parrot Drone SAS, Faulhaber Group, Sunnysky Motors, Align Corp. Ltd, X-Team RC, Hobbymate, EMAX US Inc., FPV Model, among others. Prominent manufacturers are focusing on strategic acquisitions to strengthen their market foot-print and ensure that their production capacity meets increasing demand from healthcare and retail in the current pandemic.
For instance, in 2019, Nidec Motor Corporation acquired a US-based company Roboteq Inc., to design & sell ULV drives. Nidec has endeavored to strengthen its presence in some key growth areas such as robotization, to become a global leader in the ULV market. In 2019, MicroMo Electronics Ltd. has been officially recognized as Faulhaber Micromo LLC and has become a fully integrated part of the Faulhaber drive system division. The company intends to enhance its product portfolio in the North American market.
Find More Valuable Insights on Drone Motors Market
Fact.MR, in its new offering, provides an unbiased analysis of the global drone motor market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the drone motor market on the basis of Drone (Fixed Wing, Multi-Rotor, Single-Rotor and Fixed-Wing Hybrid), Motor (Brushless DC Motor and Brushed DC Motor), Power (Below 50W, 50W to 200W and above 200W), Drone Category (Commercial and Consumer) and Sales Channel (OEM and Aftermarket) across seven regions.
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