(IT-NEWSWIRE.COM, September 11, 2019 ) The drone sensor market is likely to witness rapid growth in the coming years due to the high demand for drones in end-user industries such as defense and precision agriculture. Increased spending on drones in the defense industry for intelligence, surveillance, and reconnaissance (ISR) missions and for homeland security in the Middle East and APAC will drive the growth of the market for drone sensors during the forecast period. The drone sensor market was valued at USD 274.7 million in 2017 and is expected reach to USD 1,007.6 million by 2023, at a CAGR of 23.86% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023. The objective of the report is to provide a detailed analysis of the drone sensor market by sensor type, platform type, application type, end-user industry, and geography. The report provides detailed information regarding the major factors influencing the growth of the market.
Don’t miss out on business opportunities in drone sensor market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=241127051#emailwire
Defense industry to account for largest size of drone sensor market between 2018 and 2023
Among various applications, the defense industry is expected to account for the largest size of the drone sensor market between 2017 and 2023. Increased spending on drones in the defense industry for intelligence, surveillance, and reconnaissance (ISR) missions and for homeland security in the Middle East and APAC will drive the growth of the market for drone sensors during the forecast period.
Market for drone sensors for hybrid platform to grow at high CAGR between 2018 and 2023
The drone sensor market for hybrid platforms is expected to grow at a high CAGR during the forecast period. Hybrid drones comprises the advantages of better payload capacity and extended flight time and are, therefore, finding increased application in the military surveillance and agriculture segments.
Browse and in-depth TOC on "drone sensor market"
66 - Tables
41 - Figures
161 - Pages
View more detailed TOC @
North America expected to hold largest share of drone sensor market between 2018 and 2023
North America is expected to hold the largest size of the drone sensor market during the forecast period. The increasing use of drones to cover numerous sporting events by leading media houses is contributing to the growth of the drone sensor market for the media industry in North America. Military & defense is one of the largest application areas for drone sensors in North America. Rising adoption of drones in precision agriculture will drive the growth of the market for drone sensors during the forecast period. In addition, the oil & gas industry will also be a major contributor to the growth of the market as the use of drones to inspect oil & gas pipelines is increasing.
Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=241127051#emailwire
Trimble (US), Bosch Sensortec (Germany), TDK InvenSense (Japan), Sparton NavEx (US), and Raytheon (US) are among the major players in the drone sensor market.
Browse Adjacent Markets @ Semiconductor and Electronics Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Mr. Shelly Singh