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Octocopter Drone Market

Octocopter Drone Market Size, Share, Growth & Industry Trends Analysis Report, By Payload (Below 10 Kg, 10-20 kg, Above 20 kg), By Drone Type (Consumer/Civil, Commercial, Military), By End User and Region - Global Market Insights 2023 to 2033

Analysis of Octocopter Drone Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Octocopter Drone Market Outlook (2023-2033)

The global octocopter drone market will reach a valuation of US$ 3,447.6 million in 2023 and expected to progress at a CAGR of 18.1% to reach US$ 18,197.8 million by the end of 2033.

In 2023, the global drone market is estimated to have around 7.6 million unit shipments, while the drone market is projected to grow at 15.3% CAGR. In terms of volume, octocopter drone will have nearly 0.7 million units demand, wherein sales of octocopter drone accounted for nearly 11% market share of the global drone market at the end of 2022.

Report Attributes

Details

Octocopter Drone Market Size (2022A)

US$ 2,822.1 million

Estimated Market Value (2023E)

US$ 3,447.6 million

Forecasted Market Value (2033F)

US$ 18,197.8 million

Global Market Growth Rate (2023-2033)

18.1% CAGR

North America Market Share (2023)

30.1%

North America Market Value (2023)

US$ 1,038.1 million

Europe Market Share (2023)

35.4%

Europe Market Value (2023)

US$ 1,220.8 million

China Market Share (2023)

11.3%

China Market Value (2023)

US$ 389.6 million

Market Share of Top 3 Countries

42.1%

Key Companies Profiled

  • IDS Ingegneria Dei Sistemi S.p.A
  • DJI
  • Intel
  • ASW
  • Multirotor
  • Botlink
  • Tarot
  • Xfold

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Sales Analysis of Octocopter Drone (2018-2022) Vs. Market Outlook (2023-2033)

The drone becomes more effective as a result of the numerous rotors' increased speed, performance, drift, and descent times. Octocopter have a greater capacity to carry and operate extra equipment for acquiring better visual data, making them an excellent choice for long-term aerial activities. The availability of quick-to-assemble components with higher carrying capacity and a variety of commercial and defense applications has contributed to the expansion of the world octocopter market.

The drone rotors on the octocopter each run independently, with their relative speeds adjusted to produce the thrust and torque necessary to lift the drone. In this configuration, the remaining rotors maintain stability when hovering in the air, even if one of the rotors is malfunctioning.

The market for octocopter drones has increased as a result of the inclusion of technologies that minimize mechanical losses and offer long-term stability in the air. Leading market participants are functioning vigorously and expanding their network and resources. extensive investments to strengthen their infrastructure with the goal of gaining a sizable market share.

  • Short Term (2023-2026): Growing commercial use will positively impact octocopter market growth. As the octocopter drones are capable of lifting heavy industrial camera and payloads.
  • Medium Term (2026-2029): United States and China is anticipated to witness comparatively high octocopter demand due to increasing advancement in drone technology.
  • Long Term (2029-2033): Adopting new advanced technology like UAV can open new opportunities for octocopter market players.

From 2018 to 2022, the global market for octocopter drone registered a CAGR of 14.1% Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 18.1% CAGR between 2023 and 2033.

Octocopter drone market forecast by Fact.MR

Market share analysis of octocopter drone based on pay load capacity and region is provided in the above image. Under the pay load capacity segment, 10-20 kg sub-segment dominates with 47.8% market share in 2023.

Octocopter Drone Market

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What’s Driving High Demand for Octocopter Drone across Regions?

“Rising Demand for Drone Operability in Extreme Conditions to Elevate the Market Growth”

Numerous jobs can be carried out by octocopter drones in inhospitable and perilous environments. Octocopter can't, however, fly in every kind of weather. Your octocopter drone's performance may be impacted by weather factors like precipitation, strong winds, and cold temperatures. For instance, precipitation can harm the electronics in octocopter drones. These elements have raised demand for octocopter drones that can function in harsh environments.

Furthermore, only a small number of drone manufacturers have already begun creating and introducing new drones that are simple to control in difficult circumstances. Octocopter drones are therefore anticipated to fuel growth during the predicted period.

“Increasing Use of Octocopter Drone in Application Sector Enhances the Sales of Octocopter”

Octocopter have the ability to take off and land vertically. The presence of this component increases the usage of octocopter for patrol, surveying, and surveillance in terrain that is geographically inaccessible. Due to restrictions on the use of fixed-wing and single-rotor drones, the use of octocopter is growing in the global defense industry.

The demand for airborne surveillance vehicles with lengthy hovering capabilities has increased due to a growth in construction operations in complicated sectors including shipbuilding, mountain bridge construction, and estuary dam development. Octocopter are becoming more popular as a result of rising demand for simple-to-control aircraft for commercial and geographic assessments. Consequently, it is anticipated that the global octocopter market for the construction sector will develop at a rate of of 18.1% until 2033.

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What Do Octocopter Drone Manufacturer Need to Watch Out for?

“High Price of the Octocopter Drone System and Spare Parts is the Major Restraining Factor”

Along with typical aviation aficionados, those who wish to work extra hours, experiment with aerial photography, and fly drones for pleasure are becoming more and more interested in octocopter drones. As consumers utilize drones more frequently to further their hobbies and interests, octocopter drone sales have dramatically expanded globally.

Country-wise Insights

How octocopter drone market is skyrocketing in United States?

The market for drones in the United States is estimated to be worth US$ 1.22 billion at the end of 2022 and is projected to grow to US$ 1.40 billion by the end of 2027. In addition, the US produces the most drone cameras. The number of drones registered in the United States is 865,505, according to the Federal Aviation Administration.

Moreover, United States Federal Aviation Administration (FAA) has also released new regulations that offer more comprehensive and consistent guidance regarding the safe and legal operation of unmanned aerial vehicles (UAVs) in commercial settings. These laws and rules are designed to make it easier to enter the market and promote product acceptance in the United States. Thus, United States octocopter market is expected to reach US$ 927.2 million by 2023 and expected to reach CAGR 15.1% in the forecast years.

Why is the China Octocopter Drone Market Expected to Be Highly Lucrative?

The majority of drones are produced in China. China, which has 1,800 drone producers at the beginning of 2021, dominates the military drone market. The employment of drones in many industrial sectors is being encouraged by the Chinese government, which is implementing a number of subsidy programs and other beneficial domestic policies. Demand for these unmanned aerial vehicles is rising in China as a result of the country's expanding drone applications (UAVs).

However, the growing need for drones for surveying, inspection, monitoring, and surveillance applications in the construction, agricultural, infrastructure, energy, telecommunications, mining, and insurance industries is what is fueling the nation's commercial drone boom. All these factors enable the growth of the Chinese octocopter market in the long term, creating a value of US$ 407.9 million between 2023 and 2033.

Category-wise Insights

Why is the demand for 10-20 kg payload capacity is expected to surge the market?

The 10-20 kg octocopter drone is expected to have maximum market share in the forecast year. As the octocopter drones are designed for logistics purpose, it helps in transferring goods from one place to another place through air channel. The octocopter drones are used by different end users for instance healthcare, construction & mining, oil & gas, delivery & logistics etc.

Therefore, 10-20 kg payload capacity will reach a value at US$ 1,646.6 million and market share of 47.8% by the end of 2023.

Why is Market Growth Being Led by the Delivery & Logistics?

The emerging delivery & logistics market is experimenting new way of delivery system through octocopter drones. The global logistics market is accounts for 38,000 jobs and contributes US$ 1.6 billion in gross value added. By 2030, the logistics market expected to grow by US$ 439 million.

More than one-third of the worldwide delivery market's income came from the Asia-Pacific region in 2021, and that region is expected to maintain its dominance through 2031. According to the World Bank China has the growth potential of delivery and logistics market, china stands on 27th position in Logistics Performance Index. The delivery and logistics market segment is expected to reach the value US$ 695.7 million and market share of 20.2% by the end of 2023.

Competitive Landscape

Prominent octocopter manufacturers are IDS Ingegneria Dei Sistemi S.p.A, DJI, Intel, ASW, Multirotor, Botlink, Tarot, Xfold and other key players are into the octocopter drone manufacturing segment to meet the consumer demand in the market.

Market players are investing more capital and resources in R&D while trying to increase their regional presence. The business has established beneficial alliances and partnerships with end-user industries and governments. Modern drones and their attachments are in high demand, which enables market participants to broaden their product offerings. As octocopter offers higher stability and payload capacity as compared to other category, they are widely preferred by commercial end users.

Fact.MR has provided detailed information about the price points of key manufacturers of octocopter positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Octocopter Drone Industry Research

  • By Payload :

    • Below 10 Kg
    • 10-20 kg
    • Above 20 kg
  • By Drone Type :

    • Consumer / Civil
    • Commercial
    • Military
  • By End User :

    • Healthcare
    • Food & Beverage
    • Industrial
    • Military
    • Agriculture
    • Delivery & Logistics
    • Construction
  • By Region :

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

- Premium Report Details -

Octocopter Drone Market
  • FACT7885MR
  • Nov-2022
  • Automotive
  • 170 Pages
  • 116 Tables
  • 98 Figures

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The global octocopter drone market is currently valued at US$ 3,447.6 million in 2023.

North America leads the global octocopter drone market accounting for 30.1% market share in 2023.

10-20 kg octocopter drone services accounts for 47.8% share of the global market in 2023.

During 2023-2033, sales of octocopter drone will increase at 18.1% CAGR.

Worldwide demand for octocopter drone is anticipated to reach US$ 18,197.8 million by 2033-end.

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