New Delhi, Oct. 11, 2022 (GLOBE NEWSWIRE) — The global commercial drone market is growing due to increasing demand for mapping, e-commerce, cloud-based data services and applications, and agriculture. The high demand in sectors, such as agriculture and the environment, may improve agricultural management and the green map in the near future.
BlueWeave Consulting, a leading strategic consulting and market research company, in its recent study, estimated the global commercial drone market at USD 9.43 billion in 2021. In the forecast period between 2022 and 2028, the size of the global commercial drone market expected to grow at an impressive CAGR of 29.8%, reaching a value of $54.17 billion by 2028. Drones are ideal for assistance in some of the most difficult professions in the world, as they can be controlled at a distance and flown at different distances and heights. They can help search for survivors after a hurricane, help law enforcement, and be an eye in the sky for the military during terrorist incidents. They also contribute to the scientific study of some of the world’s most extreme climates. Drones have even entered homes, where they serve as a source of entertainment and an important tool for photographers. These factors are likely to drive the growth of the drones market in the coming years.
Global Commercial Drone Market – Overview
Drones can replace traditional methods of operation in many corporate tasks. This comes after the Federal Aviation Administration increased approval for commercial, non-hobbyist drone use. Drones save time and money because they require less human intervention and have no safety infrastructure. They can also improve data analytics, allowing businesses to better understand and predict performance. Drones can even create new business models and prospects in some industries. Drones are expected to become commonplace in businesses ranging from insurance to agriculture to journalism. The industrial drone fleet in Europe and the United States will be valuable $50 billion and there will be more than 1 million units by 2050, with most of the value tied to drone services and data collection.
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Global Commercial Drone Market – Regional Insights
The Asia-Pacific commercial drone market is expected to be the largest in the world during the forecast period. North America would be second. By 2026, the global commercial drone industry could grow to nearly 58.4 billion dollars. Between 2021 and 2026, the market is likely to increase at a compound annual growth rate of around 16%.
Impact of COVID-19 on the Global Commercial Drone Market
COVID-19 has influenced some of the application sectors of the market in 2020, as drone procurement is a direct driver of demand from end-user industries. However, since restrictions on commercial activities have relaxed, the commercial drone market has started to recover since 2021.
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Competition Landscape
SZ DJI Technology Co. Ltd, Terra Drone Corporation, The Boeing Company (Insitu), Parrot Drones SAS, Intel Corporation, Birds Eye View Aerobotics, Yuneec, and Delair SAS are some of the leading companies in the global commercial drones market. A few well-established businesses with strong fundamentals dominate the market. In addition, many small businesses and startups have entered the market recently due to their high profits. To gain a high market share, companies are developing advanced drone technology hardware and software solutions that reduce human effort in applications, including mining, construction, and aerial mapping. In addition, the arrival of corporations, such as Boeing, Alphabet, and Intel, in commercial drones, the market is expected to divide the market in the coming years. The emergence of alternative fuel-powered drones can create significant changes in the competitive environment, because payload, endurance, and flying range are the main concerns of OEMs and operators. In addition, R&D is working on composite-based materials to produce key components and parts of drones that will improve the capabilities of the platforms and encourage their widespread adoption in many industries.
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In-depth analysis of the report provides information about the growth potential, future trends, and statistics of the Global Commercial Drones Market. It also highlights the factors driving the forecasts of the entire market size. The report promises to provide the latest technological trends in the Global Commercial Drones Market and industry insights to help decision makers make sound strategic decisions. Additionally, the report also examines the growth drivers, challenges, and competitive dynamics of the market.
New Developments
- In September 2022 – The US Federal Aviation Administration (FAA) has approved Declarations of Compliance for seven of DJI’s new drone models. DJI is a China-based leading global provider of civilian drones and imaging technology.
Scope of the Report
| Gems | Details |
| Years Considered | Historical Data – 2018–2021 |
| Base Year – 2021 | |
| Estimated Year – 2022 | |
| Forecast – 2022–2028 | |
| Facts Covered | Revenue in USD Billion |
| Market Scope | North America (US, Canada), Europe (Germany, UK, France, Italy, Spain, The Netherlands, Belgium, NORDIC Countries, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, Peru, Colombia, Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Qatar, Kuwait, Iran , South Africa, Nigeria, Kenya, Egypt, Morocco, Algeria, Rest of Middle East & Africa) |
| Product/Service Segmentation | Payload, Technology, Component, Application, Region |
| Key Players | Aeronavics Ltd., AeroVironment Inc., Autel Robotics, Ehang Holdings Limited, 3D Robotics, Inc., SZ DJI Technology Co., Ltd., FLIR Drones, Holy Stone, AgEagle Aerial Components Inc., Skydio, Inc., Yuneec Holding Ltd . ., Parrot Drone SAS, Kespry, Skydio, Delair, Hubsan, SenseFly, Uvify Inc., DRONESENSE, INC. |
By Payload
- <5kg
- 5–25Kg
- 26–50Kg
- 51–100Kg
- More than 100Kg
Through Technology
- Fully Autonomous
- Semi-autonomous
By Component
- Airframe
- Payload
- Components of Propulsion
- The others
By Application
- Delivery and Logistics
- Filming and Photography
- Horticulture and Agriculture
- Inspection and Maintenance
- Mapping and Surveying
- Surveillance and Monitoring
- The others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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