China's drone market set to hit $15b this year

China's drone industry is gaining momentum thanks to strong demand from the low-altitude economy, and output value of the domestic drone market is expected to exceed 100 billion yuan this year, expert said.

Data showed there were more than 12,000 drone enterprises, with total output value topping 87 billion yuan.

Since 2020, despite the COVID-19 outbreak, China's drone market bucked the trend and maintained a 30 percent growth thanks to contactless delivery and smart applications, Yang Jincai, director of the Shenzhen Unmanned Aerial Vehicle Industry Association, said at the 6th Drone World Congress, which was held on July 23-24.

The world congress predicted that by 2024, the domestic drone market would be worth 160 billion yuan, including 45 billion yuan in geographical mapping, 36 billion yuan in agriculture, forestry and plant protection, 30 billion yuan in logistics and express delivery services, 26 billion yuan in power line inspections, and 23 billion yuan in security guards. Among these, logistics is a key sector for drone applications.