The Tethered Drone Market size is projected to reach US$ 2.43 billion by 2031 from US$ 0.11 billion in 2023. The market is expected to register a CAGR of 48.2% in 2023–2031. The use of tethered drones for search & rescue operations is likely to remain a key tethered drone market trend.
Tethered Drone Market Analysis
The major stakeholders in the global tethered drone market ecosystem include component providers, tethered drone manufacturers, end users, and ground power suppliers. Orbocomm, Geotab Inc., Desert Rotor, Advanced Circuitry International, and TechnoTronix are among the major providers of components such as rotor, circuit boards, chipset, GPS, gimbal, camera, sensors, and remote. Tethered drone players—both hardware manufacturers and software providers—are dependent on each other. Elistair, Acecore Technologies, ECA Group, Fotokite, Hoverfly Technologies, Novadem, Sky Sapience, Skyshot Private Limited, and Yuneec Holding Ltd. are among the leading hardware manufacturers and software providers of tethered drones. However, a large number of small players engaged in the business hold a significant portion of the tethered drone market. They have significantly invested in developing new technologies as per the growing customer needs with the help of government regulatory bodies. Further, governments of various countries have begun approving the adoption of tethered drones due to rising threat of terrorism and growing need for security worldwide.
Tethered Drone Market Overview
The major end users of tethered drones include commercial enterprises, law enforcement agencies, and military forces. In military applications, the most typical application for tethered quadcopters is to provide persistent surveillance for situational awareness. Tethered military drones are used for intelligence, surveillance, and reconnaissance (ISR), disaster response, event management and security, traffic monitoring, and several other purposes. In defense, tethered drones help in border security, general security, surveillance at checkpoints, and monitoring of entry/exit points. In commercial applications, tethered drones are used to monitor vehicle checkpoints, entry and exit points for foot traffic across large open areas, music concerts, sports events, wind turbine inspections, mining surveys, oil & gas equipment inspections, and crowd monitoring applications. Other major stakeholders in the tethered drone market ecosystem include ground power suppliers to ensure continuous operational power to the drones. They can maintain high levels of endurance for up to 24 hours, at heights up to 200m in most weather conditions.
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Tethered Drone Market: Strategic Insights
Market Size Value in US$ 0.11 billion in 2023 Market Size Value by US$ 2.43 billion by 2031 Growth rate CAGR of 48.2% from 2023 to 2031 Forecast Period 2024-2031 Historic Period 2021-2022
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Tethered Drone Market: Strategic Insights
| Market Size Value in | US$ 0.11 billion in 2023 |
| Market Size Value by | US$ 2.43 billion by 2031 |
| Growth rate | CAGR of 48.2% from 2023 to 2031 |
| Forecast Period | 2024-2031 |
| Historic Period | 2021-2022 |
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Tethered Drone Market Drivers and Opportunities
Growing Demand from Different Sectors
The buyers in the tethered drone market include commercial and military applications. The media & entertainment, energy & power, telecommunication and defense people procure tethered drones, especially to provide persistent surveillance for situational awareness. Tethered military drones are used for ISR (intelligence, surveillance, and reconnaissance), disaster response, event management and security, traffic monitoring, and several other purposes. The defense forces procure tethered drones to build strong communication network systems and security. There have been significant investments by military forces worldwide toward the development and procurement of tethered drones. Moreover, the military forces and commercial applications have choices to switch between tethered drone suppliers based on parameters such as price, technology, and requirement. Because the end users of the tethered drone market have the option to choose their suppliers, the bargaining power of the buyers is medium in the tethered drone market and is expected to be high in the coming years by the growing demand for tethered drones.
Adoption of Tethered Drones for Wind Turbines, Buildings Restoration, and Bridge Applications – An Opportunity in Tethered Drone Market
The wind turbines require periodic maintenance on a regular interval for efficient and constant operations, owing to which, different technologies are used to perform the quality check and inspection of the turbines. Tethered drones can provide support in detection and identification of faults in the turbines by providing real-time visual footage to the operators. The wind farms have numerous wind turbines installed across onshore and offshore platforms wherein, the challenges such as immediate identification of faults and defects are more often faced by the operators at the time of their respective operations. Moreover, majority of the wind turbine operators outsource their periodic maintenance activities for better management of their wind turbine operations. The wind turbine maintenance companies face severe challenge in manually performing checking of turbines and check for all the errors and defects that is leading to operational errors. Tethered drone helps to reduce the overall inspection time that can be utilized for applying the solution for those errors.
Tethered Drone Market Report Segmentation Analysis
Key segments that contributed to the derivation of the tethered drone market analysis are type, application, and end user.
- Based on type, the tethered drone market is divided into quadcopter and multicopter. The quadcopter segment held a larger market share in 2023.
- Based on application, the tethered drone market is segmented into inspection/surveying/mapping, law enforcement, search & rescue, and others. The law enforcement segment held a larger market share in 2023.
- Based on end user, the tethered drone market is segregated into military and commercial. The commercial segment is further sub-segmented into energy & power, media & entertainment, telecom, and others. The military segment held a larger market share in 2023.
Tethered Drone Market Share Analysis by Geography
The geographic scope of the tethered drone market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America.
In 2023, North America accounted for a major share in the global tethered drone market followed by Europe and Asia Pacific. The growth of the market in North America region is attributed to the scaled-up manufacturing operations of tethered drones for various commercial purposes, including sports, military, media and entertainment, and power and energy. Also, a rise in technological advancements in tethered drones contributes to the market growth in this region. Well-established players in the North American market are Elistair, Fotokite, Hoverfly Technologies, and Yuneec Holding Ltd.
Tethered Drone Market Report Scope
Tethered Drone Market News and Recent Developments
The tethered drone market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- In 2022, Hoverfly Technologies Inc announced the official opening of its new cutting-edge headquarters in Sanford, Florida. The move to a new standalone facility has improved R&D, flight testing, and engineering, allowing LiveSky tethered UAS to be improved for government, security, and commercial customers. (Source: Hoverfly Technologies Inc, Press Release)
- In 2022, Zenith AeroTech, a leading developer of heavy-lift tethered aerial vehicles formed a strategic partnership with VIRTEX Enterprises an Austin-based electronics manufacturing service provider, to meet increasing customer demand for more tethered aerial vehicles in shorter timeframes and for these platforms to be NDAA compliant. (Source: Zenith AeroTech, Newsletter)
Tethered Drone Market Report Coverage and Deliverables
The “Tethered Drone Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- Tethered Drone Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Tethered Drone Market trends
- Detailed Porter’s Five Forces
- Tethered Drone Market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- Tethered Drones Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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