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.
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