According to the new research report published by The Insight Partners on “Tethered Drone Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” the market is expected to grow at a CAGR of 45.0% from 2022 to 2028 to reach US$ 730.17 million by 2028.
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 players engaged in the business hold a significant portion of the tethered drone market size. 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.
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The most typical application of tethered quadcopters is to provide persistent surveillance for situational awareness. Tethered military drones are used for several purposes, including military ISR (intelligence, surveillance, and reconnaissance) operations, disaster response, event management and security, and traffic monitoring. Data transferred by fiber optic drone tether is more secure than wireless transmissions since it is less sensitive to interference and cannot be jammed like RF signals. Furthermore, tethered drones are used to enhance visual experiences during news coverage and athletic events. In addition, the drones are quite inexpensive. Therefore, their use is growing in commercial applications, which drives the global tethered drone market growth. However, traditional battery-powered tethered drones have a short flight time for surveillance applications, which is projected to limit market expansion.
Key Findings of Study:
The tethered drone market size is expected to witness significant double-digit growth during the forecast period owing to the increase in adoption of drones for various applications, including border surveillance, law enforcement, crowd monitoring, emergency responding, search and rescue operations, industrial inspections, and live broadcasting. The need for the deployment of tethered drones in a short area with increased operational time of drones is another major factor propelling the market growth.
The tethered drone market players are focusing on the development of innovative products to cater different commercial sectors demand, owing to which, they are collaborating with several companies of different commercial sector entities to understand the needs and provide them a reliable solution. Apart from military applications, tethered drones are deployed for a variety of applications. For instance, in September 2021, Elistair’s Orion 2 UAV (unmanned aerial vehicle) was deployed at the University of Montana’s Washington Grizzly Stadium to provide security for the 14,000 attendees at a Guns N’ Roses concert.
A few other applications include field camps and command vehicles that are among the most important assets for military operations. Tethered drones provide the safety to equipment during a military operation. As such equipment (command vehicles, communication equipment) have their own radio signatures that can be detected by other detecting technologies from the enemy’s side; tethered drones help reduce their radio signature by providing lower visual signals to the moving assets that also helps in procuring the information from the operational locations more safely while performing the missions. Such mission calls for tethered drones are likely to propel the procurement and deployment of tethered drones across different military forces worldwide, which is driving the tethered drone market growth.
Hoverfly Technologies, Yuneec Holding Ltd., Fotokite, Volarious, and Elistair.–Prominent Market Participants in Tethered Drone Market
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.
The adoption of tethered drones by search and rescue teams also provides additional support to different teams to perform their tasks more efficiently and save a greater number of survivors in any accidental incidents. The deployment of tethered drones for such operations in the future will provide several future opportunities for the market vendors to grab the market share and gain a considerable position in the tethered drone market. Moreover, the companies are also focusing on developing products that provide support to create communications across accidental locations in remote areas for search and rescue missions which is another major factor acting as one of the trends for the tethered drone market.
The top five companies in the tethered drone market
Hoverfly Technologies, Yuneec Holding Ltd., Fotokite, Volarious, and Elistair. The above listing of key players is derived by considering multiple factors such as overall market insights, dynamic trends, revenue, current general aviation portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities.
A few of the important market initiatives and product developments from the industry are mentioned below:
2022 Elistair, the global leader in the tethered drone industry, has been awarded a framework agreement by the DGA (French Armament General Directorate) for the supply of ORION 2 tethered UAVs.
2022 Hoverfly Technologies, Inc. is pleased to announce the official opening of its new cutting-edge headquarters in Sanford, FL. 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.
2022 Novadem will supply roughly 70 NX70 micro-drones to the G5 Sahel joint force by the end of summer 2022. This force, formed in 2015 by Burkina Faso, Chad, Mali, Mauritania, and Niger, brings together 5,000 troops to combat cross-border terrorism in the Sahel area. The NX70 was picked to equip all its battalions in part due to the positive comments it has received after its deployment by French forces in these same regions in 2019.
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