New York, United States, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Drone service, also known as an unmanned aerial vehicle (UAV) service, is a speedily escalating market for services founded on flying robots that can be subjugated abstractedly or passed independently through software-controlled flight tactics in their ingrained devices. Drones as a Service offer a hand to vital industries like agriculture, construction, search & rescue, package delivery, industrial inspection, insurance, and videography with tasks such as collecting photos and dimensions and tackling or proliferating events. Boost in the requirement for time-efficient delivery services, climb in the stipulation for industry-specific solutions, and cyber security apprehensions associated with drones increase the speed of the spreading out of the global drone services market.
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Demand for Time-Efficient Delivery Service to Drive the Global Drone Service Market
According to Straits Research, “The global drone services market size was valued at USD 5,792 million in 2021. It is expected to reach USD 125,323 million by 2030, growing at a CAGR of 40.72% during the forecast period (2022-2030).” The global e-commerce and logistics market has increased dramatically in recent years. The rise of e-commerce and logistics is driving the demand for time-efficient delivery solutions for the worldwide transfer of essential goods. For instance, ANA Holdings Inc. and Wingcopter forged a partnership in 2021 to expedite the development of critical infrastructure for drone delivery of pharmaceuticals and other consumer items. The alliance's objective was to implement a drone delivery system across Japan. Amazon and DHL, the two largest e-commerce and logistics corporations, have devised drone delivery systems to expedite deliveries and transport products to regions inaccessible by conventional shipping techniques. Moreover, DHL Express and EHang formed a strategic partnership in 2019 to implement an intelligent and fully automated smart drone delivery solution in China's urban areas.
The intelligent drone delivery system in China will provide a cost-effective, energy-efficient, and autonomous delivery service. Aviation administrations across the globe authorize commercial delivery companies to utilize drones to do deliveries. In 2019, the Federal Aviation Administration approved Wing, an Alphabet-owned firm, to use drones for commercial delivery in the United States. The approval allowed Wing to make drone-based deliveries in Virginia. In addition, the advantages of employing drones for delivery, such as their safe and efficient operations, inspire businesses worldwide to invest in developing drone delivery systems. The increasing use of drone delivery systems to improve the efficiency and cost-effectiveness of the delivery systems is expected to drive the growth of the drone delivery market over the forecast period.
Updated Regulatory Framework to Create Global Drone Service Market Opportunities
Before being allowed to fly, drone operators must adhere to the nation's aviation regulatory standards. Due to the benefits that drones provide, such as low energy consumption, less air and noise pollution, and reduced traffic congestion, regulatory organizations have decided to incorporate drones in their framework to foster drone services' expansion. Due to the increasing requirement for Beyond Visual Line of Sight (BVLOS) operations, drone operators utilize Global Navigation Satellite System (GNSS) technology for navigation.
Regional Global Navigation Satellite Systems (GNSS), such as GPS, GLONASS, Galileo, BeiDou, and others, are restricted by governments. Aviation administrations are drafting new policies throughout the world to support the expanded usage of drones. The regulatory bodies have reduced limits on drone operation worldwide, including authorization, certification, and spatial limitations, to make it easier for many industries to adopt drones. The favorable government regulatory framework provides an opportunity for the drone service industry to grow.
Regional Insight
North America is predicted to command the regional market while expanding at a CAGR of 40.81%. The most technologically advanced region is North America. The area has witnessed a considerable increase in the usage of cutting-edge unmanned autonomous systems (UAS) technologies to minimize the need for human labor and enhance output quality in various industries. To increase the efficacy of their activities, the nations of North America are investing heavily in the usage of drone services. Draganfly Inc. claimed in 2021 that it has agreed to a USD 1 million services contract with Windfall Geotek Inc. integrate EagleEyeä AI flight services. The flight services will utilize artificial intelligence to forecast prospective mining targets for Windfall Geotek Inc.
Canada's real estate and construction sectors are expanding, stimulating market growth. Due to Mexico's significant gas & oil industries, the regional market for drone services has the potential to grow. In North America, the demand for drone services will expand in the coming years due to such factors. To better serve their constituents, government entities in North America are increasingly employing drone technologies. As a result of these tendencies, the market will grow.
Europe is most likely to have a shareholding of USD 40,557 million, expanding at a CAGR of 41.61% during the forecast period. The political and economic unification of the European region facilitates the growth of the drone services business there. The European Union has taken numerous measures to establish a successful regional drone service business. In 2020, the European Union implemented an EU-wide law to replace state-specific national regulations governing the use of drones. As a result of the increased regulations, the market for drone services in Europe is growing. The European Union has also engaged in programs including drones to inspect and monitor newly constructed infrastructure in the region.
Key Highlights
- Based on the type, the drone platform services segment is predicted to advance at a CAGR of 40.8% and hold the largest share.
- Based on the duration of service, the short-duration drone service section will likely have the most significant shareholding, growing at a CAGR of 40.52%.
- Based on the application, the mapping and surveying segment will rise at a CAGR of 40.9% and hold the largest share.
- Based on the solution, the enterprise segment is anticipated to hold the largest market share and grow at a CAGR of 42.11%.
- Based on the regional analysis, North America is predicted to command the regional market while expanding at a CAGR of 40.81%.
Competitive Landscape
- Aerodyne Group
- CYBERHAWK
- Dronedeploy
- EDALL Systems
- Phoenix Drone Services LLC
- PrecisionHawk, Sensefly
- Sharper Shape
- Terra Drone Corporation
- Unmanned Experts Inc.
Market News
- In 2022, AgEagle announced eBee Xä. It is the first drone in its class to receive design verification essential for BVLOS and operations over people from European Union Aviation Safety Agency.
- In 2022, Cyberhawk introduced Taz, a drone-based inspection of overhead powerlines.
Global Drone Service Market Segmentation
By Type
- Drone Platform Services
- Drone Maintenance, Repair, and Overhaul Services
- Drone Training and Education Services
By Duration of Services
- Short-duration Services
- Long-duration services
By Application
- Aerial Photography and Remote Sensing
- Data Acquisition and Analytics
- Mapping and Surveying
- Modeling
- Disaster Risk Management and Mitigation
- Inspection and Environmental Monitoring
- Others
By Solution
- Enterprise
- Point
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
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