New York, United States , May 29, 2023 (GLOBE NEWSWIRE) -- The Global Commercial Drone Market Size is to grow from USD 27.6 billion in 2022 to USD 699.8 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 38.17% during the projected period. The growing use of drones in a variety of applications such as surveillance & monitoring, inspection & maintenance, mapping & surveying, filming & photography, delivery and logistics, precision agriculture, and others in a variety of industries such as real estate & construction, agriculture, energy, media & entertainment, security & law enforcement, delivery & logistics, and others are expected to drive demand for the commercial drone market during the forecast period.
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Drones, or unmanned aerial vehicles, are becoming increasingly popular among individuals and commercial enterprises all over the world. They work in security forces to monitor, farm for agricultural services, observe illegal wildlife hunting in the woods and acquire specialty cinematic and sports video. The implementation of the 5G delivery framework, as well as the incorporation of cloud computing technologies into the drone manufacturing process, present considerable prospective market opportunities. They help their clients to make real-time, data-driven decisions by enabling high-speed data capture, processing, and transfer. Many engineers and other enterprises make substantial use of mini-drones for a range of commercial applications. Furthermore, increased global demand for online food delivery services will propel the commercial drone market over the forecast time frame. As a result, continuous technological advancement and the introduction of low-cost devices are expected to boost commercial drone market growth over the forecast period.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Commercial Drone Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Fixed-wing, Hybrid, Rotary Blade), By Application (Surveillance & Monitoring, Inspection & Maintenance, Mapping & Surveying, Filming & Photography, Delivery and Logistics, Precision Agriculture, Others), By Verticals (Real Estate & Construction, Agriculture, Energy, Media & Entertainment, Security & Law Enforcement, Delivery & Logistics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The delivery & logistics segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of verticals, the global commercial drone market is segmented into real estate & construction, agriculture, energy, media & entertainment, security & law enforcement, delivery & logistics, and others. Among these, the delivery & logistics segment is dominating the market with the largest revenue share of 57.2% over the forecast period. As the e-commerce sector increases, drones are anticipated to change the distribution and logistics sectors globally. Because of the increased need for quick delivery of things, drones are increasingly being used in e-commerce warehouses for product storage and distribution. Storage facilities all over the world are investing considerably in increasing the level of automation.
The precision agriculture segment is witnessing significant CAGR growth over the forecast period.
On the basis of application, the global commercial drone market is segmented into surveillance & monitoring, inspection & maintenance, mapping & surveying, filming & photography, delivery and logistics, precision agriculture, and others. Among these, the precision agriculture segment is witnessing significant CAGR growth over the forecast period. Drones have also been shown to be beneficial to the agriculture industry, giving farmers a number of alternatives for optimizing their crops in order to enhance productivity while lowering human exertion. As a result, farmers all around the world are cutting agricultural costs while increasing yields.
The rotary blade segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global commercial drone market is segmented into the fixed-wing, hybrid, and rotary blades. Among these, the rotary blade segment is dominating the market with the largest revenue share of 67.3% over the forecast period. The ability of rotary blade drones to hover and perform agile maneuvers while maintaining a visual on a specific target for extended periods of time is predicted to increase demand for inspection tasks.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 32.7% market share over the forecast period. This dominance can be attributed to developments in drone technology, favorable government actions, and rising demand from enterprises across a wide range of industries. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. Increased commercial drone acceptance and investment by large enterprises worldwide, particularly in China, Japan, and India, is driving expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Commercial Drone Market include Autel Robotics, DJI, EHANG, Intel Corporation, YUNEEC, Parrot Drones SAS, PrecisionHawk Inc., Aeronavics Ltd., AeroVironment Inc., Draganfly Innovations Inc., BAE Systems, Airobotics Ltd., DroneDeploy, 3D Robotics, Prime Air, Teal Drones, Skydio, Inc., and among others.
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Recent Developments
On January 2023, Draganfly Inc. announced that Remote Sensing Instruments ("RSI"), a long-standing Geospatial Technology company in India specializing in Remote Sensing and Geographic Information System ("GIS"), has entered into a strategic agreement with Draganfly for the development, distribution, and sales of Draganfly products in India. The production of Draganfly drones in India under the AatmaNirbhar Bharat (Made in India) initiative is a key component of this arrangement.
On May 2023, A2Z Drone Delivery, Inc, a manufacturer of commercial drone delivery solutions, has unveiled its new flagship delivery drone, the RDSX Pelican. The new Pelican uses a hybrid VTOL airframe with no control surfaces to combine the dependability and flight stability of a multirotor platform with the enhanced range of a fixed-wing craft. The Pelican is designed to meet the FAA Part 107 take-off weight limitation of 55 pounds and can carry payloads of up to 5 kilograms on journeys up to 25 miles roundtrip.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Commercial Drone Market based on the below-mentioned segments:
Commercial Drone Market, Verticals Analysis
- Real Estate & Construction
- Agriculture
- Energy
- Media & Entertainment
- Security & Law Enforcement
- Delivery & Logistics
- Others
Commercial Drone Market, Application Analysis
- Surveillance & Monitoring
- Inspection & Maintenance
- Mapping & Surveying
- Filming & Photography
- Delivery and Logistics
- Precision Agriculture
- Others
Commercial Drone Market, Product Type Analysis
- Fixed-wing, Hybrid
- Rotary Blade
Commercial Drone Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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