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Drone Technology Market Size, Share, Trends, Demand and Growth Forecast to 2023

The drone technology market is growing with a significant rate due to effective adoption of drones for law enforcements, up surging demand from applications and technological proliferation. Retailing and e-commerce industries have been working on unmanned aerial vehicles to deliver products in the shortest possible time to the customers.
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North America leads the global drone technology market, due to their increasing applications in the commercial sectors and high production of drones. The Europe drone technology market is expected to grow with a significant rate in the coming years, due to increasing applications in law enforcement and agriculture, and relaxation in regulations within the region.
Building retrofits and favorable government regulations are supporting the growth of the drone technology market in the region. Asia-Pacific drone technology market is also expected to grow in the coming years, due to the increased use of unmanned aerial vehicles in agricultural activities within the countries of the region.
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On the basis of type, the drone technology market can be categorized as unmanned marine vehicles, unmanned ground vehicles, unmanned aerial vehicles, and unmanned surface vehicles.
On the basis of product, the drone technology market can be categorized as nano drones, fixed wing drones, hybrid drones, and rotary blade drones. The rotary blade drones lead the global drone technology market, due to its use in wide range of applications. Rotary blade drones consist of single and multi-rotor variants. The multi-rotor variant has better flight control and is used in applications, such as surveillance and photography.
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Some of the competitors in the drone technology market are Challis Heliplane, Aurora Flight Sciences, DJI Innovations, AeroVironment Inc., Northrop Grumman Corporation, General Dynamics Corporation, Turkish Aerospace Industries Inc., Elbit Systems Ltd., Prox Dynamics AS, and Lockheed Martin Corporation.

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