The new report by Expert Market Research titled, ‘Global Commercial Drone Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global commercial drone market share, assessing the market based on its segments like product type, applications, end use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 30.6 Billion
- Forecast CAGR (2023-2028): 35.2%
- Forecast Market Size (2028): USD 195.1 Billion
Drones are in high demand in the real estate and construction industries because of their ability to survey land, provide continuous and precise project notifications, improve safety, and prevent dangerous incidents on construction sites. Over the last few years, there has been a significant increase in the number of business use cases for drones. Manufacturers of drones and software solution providers, for example, are constantly designing, testing, and improving solutions for a variety of markets.
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Drones are being widely used in the healthcare sector for lab sample pickup and delivery and medical supply transportation, to reduce transportation turnaround time and infection exposure, particularly during the COVID-19 outbreak. In addition, the rising trend of precision agriculture, which utilises various technologies to increase the yield, is propelling market growth. Drones are widely used in agricultural applications such as crop analysis and pesticide spraying, which is boosting industry growth.
Commercial Drone Industry Definition and Major Segments
Drones are pilotless platforms that can be remotely controlled by a human operator or navigate autonomously by a computer program onboard. Drones have the potential to transform urban and rural infrastructure while also increasing agricultural productivity in developing countries. Commercial drones primarily aid in monitoring and delivery in various industries, due to which they are increasingly being deployed.
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The major product types of commercial drones are:
- Fixed Wing
- Rotary Blade
The market can be broadly categorised on the basis of its applications segments into:
- Filming and Photography
- Inspection and Maintenance
- Mapping and Surveying
- Precision Agriculture
- Surveillance and Monitoring
Based on end use, the market is divided into:
- Delivery and Logistics
- Media and Entertainment
- Real Estate and Construction
- Security and Law Enforcement
On the basis of region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Commercial Drone Market Trends
The development of drones that meet regulatory safety standards to prevent accidents is providing additional impetus to the drone market’s growth. The growing demand for sophisticated and highly reliable designs is also fuelling the growth of commercial drone deployment. Advances in imaging technologies are expected to increase demand for commercial drones in a variety of high-end applications, thus bolstering the industry growth.
The incorporation of cutting-edge technologies in drones, such as artificial intelligence (AI) and machine learning (ML), to automate numerous operations and collect and implement visual data while improving safety and efficiency, is expected to boost industry growth. Moreover, the trend of smart mobility of drones to increase commercial accessibility is expected to boost the commercial drone’s industry’s growth in the coming years.
Key Market Players
The major players in the market are:
- Aeronavics Ltd.
- AeroVironment, Inc.
- Autel Robotics
- SZ DJI Technology Co., Ltd.
- Draganfly Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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