Drone Motors Market Insights:
The global drone motors market is estimated to expand ~12X from its current value during the forecast period 2020-2030. However, the COVID-19 pandemic is taking a toll on the drone motors market as the companies have ceased their operations owing to the shortage of raw materials and drone motor controller circuit systems which are primarily imported from China.
Although the drones are being deployed to monitor people amid lockdowns, sales of drone motors are declining as production units are shutting in several countries.
As a result, the demand for drones across the world has contracted due to the COVID-19 crisis, resulting in the declining sales of drone motors. In the long term however, the global drone motor market is foreseen to surpass a market valuation of US$~ 7.3 Bn by the end of the forecast period and poised to grow at a prolific CAGR of 28.4%.
Drone Motors Market Trends:
The demand for drone motors will witness an upward trend on the back of competitive drone motor prices and spurring sales of drones. Various countries are adopting them for myriad security applications. In addition, the growing demand for drones in various applications like agriculture, military, oil & gas and forestry is anticipated to create ample opportunities for the players operating in the drone motors market. Amid the outbreak, drones are being used to monitor stringency with which lockdowns are being enforced.
Therefore, it is estimated that drone motor sales in the aftermarket will increase during the pandemic. Moreover, the adoption of drone motor kits is increasing rapidly in retail and logistics companies in order to provide consumers with quickest product delivery. This will reinforce demand for drone motors.
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Drone Motors Market Product Type Insights
The multi-rotor drone segment stayed in the lead in the year 2020, capturing more than 84% of the market share, reaching a market valuation of US$ ~510 Mn. These drones are made of a central body having multiple-rotors which equips the drone motor controller with a higher degree of control over its position. It also ensures greater maneuverability over other drones and can perform vertical takeoffs and landings in any open space which makes them ideal for various applications.
This, in turn, is anticipated to increase the demand for multi-rotor drones, thus supporting the growth of drone motors market. Furthermore, multi-rotor drones have gained acceptance owing to their relatively low prices, ease-of-use and significant payload capacity over other drones. This is foreseen to reinforce demand for drone motors over the forecast period.
Drone Motors Market Regional Insights:
North America dominated the global drone motors market in 2019 and in terms of value as well as volume over the forecast period. The region is estimated to grow at an astounding CAGR of 27.2% during the forecast period. Increasing use of drones for intelligence and surveillance activities in the USA is expected to propel the growth of drone motor market.
Moreover, the adoption of drones in the construction sector is rising as US laws require construction companies to inspect their sites on a regular basis. Therefore, companies are leveraging the use of drones to inspect the sites, which in turn has led to high growth of drone motor market. Based on the above mentioned facts, North America is anticipated to create an absolute $ opportunity of US$ 2.2 Bn during the forecast period 2020-2030.
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Drone Motors Market Manufacturers
Drone & drone motors manufactures are capitalizing significantly on their R&D endeavors to bring about a continuous shift in their designs. Furthermore, there are a significant number of small and medium sized drone motor manufacturers in the global drone motor market, with moderate manufacturing costs and complex design.
The prominent market players account for nearly 40-45% of the total market share. Industry players are focusing on acquisitions as their key strategy in order to expand their market presence and better serve the needs of consumers.
For instance, in 2020, Nidec Corporation signed a definitive agreement with Secop Austria GmbH and acquired the Delta production line from Secop. Secop, an Austria-based company manufactures household refrigeration compressors and motors. In 2019, Faulhaber GmbH acquired Dimatech, a Swiss prominent manufacturer of high-performance stepper motors. Faulhaber now also offers this motor type with higher drone motor rpm and greater dynamics.
COVID-19 Impact Insights
The COVID-19 pandemic has generated a significant impact over the growth of drone motor market due to closure of factories. It has substantially affected the players in the drone motor market with a severe impact on the import of raw materials.
At the same time, the effects of this crisis will be profound with demand for drone motors set to decline in 2020. USA, which consumes nearly one-fourth of the drone motors market, is currently the most affected region and it is anticipated that it will require a long period of time for recovery.
This, in turn, is foreseen to impact the global drone motor supply-demand until the midterm forecast. However, sales in the third quarter are expected to be higher than second quarter as the gap in demand and supply is estimated to decrease with resumption of operations. Moreover, increased government spending on drones to ensure security and social distancing during the aftermath of COVID-19 is estimated to ramp up market growth in the fourth quarter of 2020.
Demand for drone motors is expected to be low in 2020 and shall face a downturn during the COVID-19 pandemic. However, the sales of drone motors are foreseen to witness a forward leap in the mid-term forecast. Furthermore, a surge in the adoption of drones in various end use applications like agriculture and oil & gas is anticipated to accelerate the demand for drone motors.
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Global Drone Motor Market: Scope of the Report:
The recent global drone motor market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global drone motor market. A detailed segmental analysis, based on drone type, motor type, power, drone category, and sales channel has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global drone motor market. In addition, a separate section on the market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the drone motor market.
Key Segments of the Drone Motor Market
Fact.MR’s study on the drone motor market offers information divided into four important segments-coverage patterns, source, range, and regional analysis. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
- Fixed Wing
- Fixed-Wing Hybrid
- Brushless DC Motor
- Brushless DC Motor
- < 50W
- 50W to 200W
- > 200W
- North America
- Latin America
- East Asia
- South Asia
Drone Motor Market - Scope of the Report
Fact.MR recently published a market study on the global market for drone motor. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the drone motor market structure. The market study presents exclusive information about how the drone motor market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact. MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the drone motor market in the forecast period.
The study is relevant for stakeholders in the drone motor market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the drone motor market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the drone motor market. It also offers actionable insights based on future trends in the drone motor market. Furthermore, small businesses and new entrants in the drone motor market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in the Fact.MR Drone Motor Market Report
- Which regions will continue to remain the most profitable regional markets for the Drone Motor market players?
- Which factors will induce a change in the demand for drone motor during the assessment period?
- How will changing trends impact the drone motor market?
- How can market players capture the low-hanging opportunities in the drone motor market in developed regions?
- Which companies are leading the drone motor market?
- What are the winning strategies of stakeholders in the drone motor market to upscale their position in this landscape?
Drone Motor Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the drone motor market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of conclusions.
Secondary resources referred to analysts during the production of the drone motor market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who have contributed to the development of this report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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