Commercial segment to dominate the Singapore Drone Market
Rising construction industry
and growing application areas of drones is expected to drive the Singapore drone
market for the forecast period.
According to TechSci Research report, “Singapore
Drone Market By Type (Fixed Wing, HALE, TUAV, MALE, VTOL and Others) By
Segment (Military and Commercial) By Application (Mapping, Surveying &
Photography, Security, Precision Agriculture, Media & Entertainment and
Others) By Payload (150kg 600kg, Above 600kg, Less than 25Kg, 25kg 150kg), By
Region, Company Forecast & Opportunities, 2026”, The Singapore drone
market is expected to witness significant growth for the next five years. Drones
are aircrafts which can be operated remotely by pilot or are pre-programmed by
professionals to fly autonomously. It consists of a power source, such as solar
batteries, lithium-ion batteries, hybrid or fuel cells, rotors, propellers,
cameras, altimeter, and controllers to communicate efficiently by using radio
waves. Frame of drone is generally made up of light weight and composite
materials to enhance the performance and movement of drones. Drones can be
deployed in the sky for real-time monitoring of emergency situations such as
traffic accidents and fires. Leading authorities of Singapore are pushing the
nation to become the world’s first Smart Nation where technology will be used
to enhance the quality of life of an individual and create new business
opportunities for enterprises. Government is expected to serve its citizens by
proving improved public services and make informed and meaningful decisions.
The COVID-19 outbreak across the world which has been
declared as pandemic by World Health Organization has several affected
countries adversely. Leading authorities in Singapore imposed lockdown
restrictions and released a set of precautionary measures to contain the spread
of novel coronavirus. Coronavirus affected patients started suffering from
shortness of breath along with coughing and sneezing which created lucrative
opportunities for the growth of the drone market. Drones are being actively
used in confined and restricted areas to operate efficiently without getting
affected by coronavirus. Use of drones have seen a spurge to conduct remote
operations such as monitoring of crowds, measuring temperatures, announcement
and broadcasting of warnings, remote delivery of PPE and lab tests, among
others. Singapore based drone solutions services launched a program called
Drones in the age of COVID-19 to encourage the use of drone for purposes such
as monitoring, and inspection and drones were integrated with cameras and
loudspeakers and drones have the facility of continuous power supply.
However, the problem of high air traffic may create
hindrance in the growth of the drone market.
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Singapore
drone market is segmented into type, segment, application, payload, regional
distribution, and company. Based on application, market can be divided into mapping,
surveying & photography, security, precision agriculture, media &
entertainment, and others. The media & entertainment sector is expected to
witness growth for the forecast period, 2022-2026. Rise in demand for aerial
photoshoots from media, entertainment and advertising industry is expected to
drive the demand for drone market in Singapore. High penetration of internet
services and surge in proliferation of smart devices is contributing
significantly to improve the presence of social media campaigns which in turn
is fostering the drones market growth.
H3
Dynamics Holdings Pte. Ltd., Kelley Aerospace, DJI (Authorized Dealer Avetics
Global), Garuda Robotics Pte. Ltd., MIRS Innovate Pte. Ltd., Infinium Robotics,
Parrot SA (Authorized Dealer Singapore Hobby Supplies Pte Ltd), General
Atomics, Lockheed Martin Corporation, Northrop Grumman Corp are the leading
players operating in Singapore drone market. Manufacturers are increasingly
focusing on research and development process to fuel higher growth in the
market. To meet evolving customer demand with respect to better efficiency and
durability, several drone manufacturers are coming up with their
technologically advanced offerings.
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“Roll-out
of 5G technology coupled with developing telecommunication network is expected
to boost the market growth. Ongoing research and development activities for
upgradation of existing infrastructure to make more affordable and
user-friendly coupled with rise in collaborations between drone manufacturers
and industrial players is expected to fuel the demand for drones in Singapore. Incorporation
of emerging technologies such as artificial intelligence, sense and avoid
systems, cloud computing to carry out operations such as data capture, data
transmission, navigation, data analysis, among others is expected to propel the
drone market growth till 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Singapore Drone Market
By Type (Fixed Wing, HALE, TUAV, MALE, VTOL and Others) By Segment (Military
and Commercial) By Application (Mapping, Surveying & Photography, Security,
Precision Agriculture, Media & Entertainment and Others) By Payload (150kg
600kg, Above 600kg, Less than 25Kg, 25kg 150kg), By Region, Company Forecast
& Opportunities, 2026” has evaluated
the future growth potential of Singapore drone market and provided statistics &
information on market size, shares, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the of Singapore drone market.
Contact
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