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Drone Accessories Market

Drone Accessories Market

Drone Accessories Market Analysis By Accessories (Drone Batteries, Flight Controllers, Cameras, Motors, Propellers, Gimbal, Guards & Other Accessories) By Application, By Sales Channel & By Country – Global Market Insights 2022 to 2032

Drone Accessories Market
FACT1889MR
  • May-2022
  • List of Tables : 112
  • List of Figures : 94
  • 170 Pages
  • Technology

Drone Accessories Market Outlook (2022-2032)

Demand for drone accessories across the world stood at around US$ 15 billion in 2021, accounting for 53.2% share of the global drone market in terms of value.

The global drone accessories market is currently valued at US$ 17.5 billion and is set to top US$ 115 billion by 2032, expanding at an astonishing CAGR of around 20.7% from 2022 to 2032.

Report Attributes

Details

Drone Accessories Market Size (2021A)

US$ 15 Billion

Estimated Market Value (2022E)

US$ 17.5 Billion

Forecast Market Value (2032F)

US$ 115.1 Billion

Global Market Growth Rate (2022-2032)

20.7% CAGR

North America Market Share (2021)

~28.6%

North America Growth Rate (2022-2032)

19% CAGR

U.S. Growth Rate (2022-2032)

18.9% CAGR

Market Share of Top 5 Companies

~23%

Key Companies Profiled

  • ACROTOR
  • Anbee
  • Arzroic
  • Autel
  • Autel Robotics
  • CPSYUB
  • CYNOVA
  • DEERC
  • DJI
  • Eagle Pro
  • Fat Shark
  • Fimi
  • Fstop Labs
  • FVW
  • Homga
  • Hoodman
  • Hooshion
  • InvenSense Inc.
  • IXYS Corp.
  • Lekufee
  • Lowepro
  • O'woda
  • Pelco
  • PGYTECH
  • RCGEEK
  • RCstyle
  • Roadstar
  • Skydio
  • Top Race
  • TransDigm Group.
  • Trendy Apparel Shop
  • ULANZI
  • United Technologies
  • VCUTECH
  • Venom Power
  • YINGJEE

Increasing the beneficial use of a drone has enabled countries across the world to formulate favorable regulations for drone equipment. The drone industry, in general, is gaining pace in some parts of the world owing to the enhanced adoption of drones by end users. This has led to an increase in the sales of drone accessories & kits.

The consumer drone accessories category is expected to grow 7.4X, while the military drone accessories category 5.7X, over the forecast period of 2022 to 2032.

Across the world, drone equipment is widely used for defense purposes, delivery, and recreational use. This has led to an increase in the demand and production of drone accessories as well.

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Drone Accessories Market Historical Analysis (2017-2021) Vs. Forecast Outlook (2022-2032)

Based on the recent study by Fact.MR, a market research and competitive intelligence provider, adoption of drone accessories witnessed a growth rate of 14.3% over the past five years. This was partially due to favorable government regulations across the world.

Security & law enforcement applications accounted for a dominant market share of drone accessories at approximately 21.9% in 2021.

Accelerating demand for use of drones is projected to provide a thrust to drone accessories market development, especially in East Asia. Surging utilization of military drone accessories is projected to create an absolute $ opportunity of US$ 16 billion over the forecast period.

Furthermore, rapidly rising use of military drone accessory products is likely to supplement the growth of the market throughout 2022-2032. Moreover, utilization of drone accessories is predicted to increase in North America, as it has the highest manufacturing capacity, and held a market share of 29.3% by volume in 2021.

Overall, the global market for drone accessories is projected to surge ahead at a high CAGR of 20.7% through 2032.

Drone accessories market forecast by Fact.MR

Why are Sales of Drone Accessories Expected to Skyrocket Going Forward?

“Surging Drone Industry Complementing Need for Drone Accessories”

Government agencies have been the early customers of drones, and this is also paving way for the drone accessories market, such as drone motors, drone batteries, etc. The enterprise drone segment is the fastest-growing segment of the overall drone industry. The segment comprises drone software, hardware, services, and accessories for industrial and commercial applications.

Agriculture, building inspection, and construction are the top three segments for enterprise drones. These segments are, therefore, significantly contributing to the sales of drone accessories.

However, security & law enforcement will continue to be the largest customer for drones and drone accessories over the next several years. Technological advancements and government-funded R&D are likely to spawn more capable commercial drone technologies that will accelerate adoption in the other sectors as well.

Along with this, manned airborne surveillance system and unmanned airborne surveillance system sales are anticipated to increase over the assessment period. The construction & mining segment is expected to reach a high valuation of US$ 8.5 billion by 2032.

“Increasing Military Spending by Countries across the World”

Even though there is rising defense spending by governments across the world, drone accessory manufacturers face strong competition in the market.

  • Based on the Stockholm International Peace Research Institute (SIPRI) report, world military spending grew annually by an average of 3% from US$ 1.7 trillion in 2015 to US$ 1.9 trillion in 2019.

The United States has the largest fleet of medium-altitude, long-endurance (MALE) and high-altitude, long-endurance (HALE) drones, and major drone providers from Israel and China have increased the manufacture and export of defense drones for domestic and foreign militaries. This has resulted in increased demand for advanced and smart drone accessories across the world.

“e-Commerce Sector Driven by COVID-19 Seeing Shift towards Drone Deliveries”

Amidst COVID-19, favorable regulations by governments regarding contactless delivery pushed the drone delivery industry upwards. Regulatory bodies in Australia, China, and the United Kingdom have less stringent regulations for early-stage delivery drone operations, and the United States maintains major influence on global aviation regulations. Owing to this, long-term global drone delivery/ logistics transport regulations are likely to follow the United States framework.

The accelerated shift to e-Commerce and the growing need for rapid medication delivery due to COVID-19 prompted governments to hasten the approval of drone delivery services across the globe. This led to increased sales of drone chargers, drone bags, and drone remote controllers.

As such, delivery and logistics drone accessories accounted for 15.1% market share in 2021.

An Adaptive Approach to Modern-day Research Needs

Country Wise Analysis

How is the U.S. Majorly Driving the Global Drone Accessories Market?

A significant number of investments are being made for the development of drones in the United States. Owing to this, the drone accessories market in the country will be at the front seat over the coming years. The country is highly profitable in terms of operations. Drone accessories are equipped with advanced technology, which allows for ease of operation and increased operability.

Increasing drone spending in the United States corresponds with the migration of robotics and artificial intelligence (AI) from Silicon Valley into the defense sector. The Department of Defense (DoD) of the United States has been the primary customer of drones and drone accessories, and United States defense spending accounted for 39% of the entire drone market in 2020.

The United States drone accessories market is predicted to expand at a CAGR of 18.9% as a result of these factors. Growing number of manufacturers that are acquiring control over the market and providing drone accessories at lower prices is aiding in higher domestic utilization and exports.

Consumption of drone accessories in the United States is expected to reach a valuation of US$ 25 billion by the end of 2032.

Will Government Regulations in India Benefit Manufacturers of Drone Accessories?

India is slowly moving towards increased usage of drones and drone accessories through favorable government regulations. Continuously escalating terrorist & insurgency activities are placing greater demand for defense security systems across India.

In India, a project called Airborne Surveillance Platform (ASP) is being initiated to develop airborne early warning systems by the Defense Research and Development Organization (DRDO).

Furthermore, government aid to private research institutes, favorable government policies, and growing business spending on R&D will help catalyze the demand for drone accessories in India. India accounted for US$ 71 billion in 2019 on military spending, which was 4% of global military expenditure.

The India drone accessories market is expected to reach a valuation of US$ 493.3 million in 2022.

Category wise Insights

Why Should Suppliers of Drone Accessories Focus on Security & Law Enforcement Needs?

From weapon delivery to reconnaissance, the future of security drones will be increasingly autonomous. Security and law enforcement agencies are utilizing drones and drone accessories comprehensively around the world.

The military drone accessories market is increasing rapidly owing to rising security issues and geopolitical struggles between the different nations. The security and law enforcement application sector will account for a valuation of around US$ 3.7 billion in 2022 and grow 7.1X by the end of 2032.

Will Commercial Drone Accessories Witness Accelerated Sales Growth?

In the drone market, commercial drones are gaining wide attention of late, boding well for suppliers of drone accessories. In recent times, sales of drone batteries and drone memory cards have seen significant growth.

Favorable regulations by governments for the use of drones for different applications will aid not only the regulated drone industry but also the commercial drone industry. Thus, this will increase the demand for drone accessories from this segment.

Rising sales of commercial drone accessories will provide value-added services and help for easy operations, thereby resulting in more advanced applications for end users.

The commercial drone accessories market is likely to hold a valuation of US$ 25.2 billion in 2022.

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Competitive Landscape

Top manufacturers of drone accessories are focusing on consistent innovation of product designs to meet various needs and challenges across the world.

Prominent market players are following a competitive pricing strategy in the drone accessories market. Companies are entering into partnerships and collaborations with governments as well as end-use industries to drive profits.

Owing to high demand for modern drone accessories, market players are expanding their product offerings. Market participants are focusing on R&D and channelizing their resources while trying to expand their regional bases.

  • In Dec. 2021, DJI launched a new agriculture drone under its crop surveillance & protection series - DJI AGRAS T20. This drone is equipped with eight nozzles and high-volume pumps that can spray six l/min and can carry a payload of 20 kg.

Key Segments of Drone Accessories Industry Survey

  • Drone Accessories Market by Accessory :

    • Commercial Drones
      • Batteries
        • Below 3,000 mAh
        • 3,000-5,000 mAh
        • 5,000-10,000 mAh
        • Above 10,000 mAh
      • Drone Frames
      • Flight Controllers
      • Transmitters & Receivers
      • Cameras
        • FPV Cameras
        • Traditional Cameras
      • GPS & Antenna
      • Drone Motors
      • Drone Speed Controllers
      • Propellers
      • Drone Gimbal
      • Neutral Density Filters
      • Landing Gear & Pads
      • Display Monitors
        • Below 3" Inch
        • 3-5" Inch
        • Above 5" Inch
      • FPV Glasses
      • Leg Extenders
      • Guards
        • Drone Guards / Carrying Cases
        • Propeller Guards
        • Joystick/Controller Guards
        • Camera Covers
        • Others
    • Consumer Drones
      • Batteries
        • Below 3,000 mAh
        • 3,000-5,000 mAh
        • 5,000-10,000 mAh
        • Above 10,000 mAh
      • Drone Frames
      • Flight Controllers
      • Transmitters & Receivers
      • Cameras
        • FPV Cameras
        • Traditional Cameras
      • GPS & Antenna
      • Drone Motors
      • Drone Speed Controllers
      • Propellers
      • Drone Gimbal
      • Neutral Density Filters
      • Landing Gear & Pads
      • Display Monitors
        • Below 3" Inch
        • 3-5" Inch
        • Above 5" Inch
      • FPV Glasses
      • Leg Extenders
      • Guards
        • Drone Guards / Carrying Cases
        • Propeller Guards
        • Joystick/Controller Guards
        • Camera Covers
        • Others
    • Military Drones
      • Batteries
        • Below 3,000 mAh
        • 3,000-5,000 mAh
        • 5,000-10,000 mAh
        • Above 10,000 mAh
      • Drone Frames
      • Flight Controllers
      • Transmitters & Receivers
      • Cameras
        • FPV Cameras
        • Traditional Cameras
      • GPS & Antenna
      • Drone Motors
      • Drone Speed Controllers
      • Propellers
      • Drone Gimbal
      • Neutral Density Filters
      • Landing Gear & Pads
      • Display Monitors
        • Below 3" Inch
        • 3-5" Inch
        • Above 5" Inch
      • FPV Glasses
      • Leg Extenders
      • Guards
        • Drone Guards / Carrying Cases
        • Propeller Guards
        • Joystick/Controller Guards
        • Camera Covers
        • Others
  • Drone Accessories Market by Application :

    • Agriculture & Forestry
    • Delivery & Logistics
    • Media & Entertainment
    • Construction & Mining
    • Oil & Gas
    • Security & Law Enforcement
    • Recreational Activity
    • Others
  • Drone Accessories Market by Sales Channel :

    • OEMs
    • Aftermarket
      • Online Stores
        • Direct to Customer
        • Third-Party Online
      • Retail Stores
      • Specialty Stores
      • Franchised Outlets
      • Modern Trade
      • Others
  • Drone Accessories Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • Middle East & Africa

- FAQs -

The global drone accessories market is projected to reach a valuation of US$ 115.1 billion by the end of 2032.
The commercial drone sub-segment is likely to reach a valuation of US$ 2.6 billion in 2022.
North America holds a leading market share of around 28.1% in 2022.
Application of drone accessories in security and law enforcement accounts for the highest market share of 22.1%.
Online store sales are expected to exhibit a CAGR of 19.1% during the forecast period.
Delivery and logistics drone accessories are likely to offer great growth prospects with a projected market valuation of US$ 26.3 billion by 2032.

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