Chicago, April 10, 2024 (GLOBE NEWSWIRE) -- MarketsandMarkets: The Commercial Drone market size is projected to grow from USD 5.3 billion in 2022 to USD 9.3 Billion by 2029, at a CAGR of 11.2% from 2024 to 2029. The market growth can be attributed to growing increased adoption of UAS in commercial applications worldwide.
The acceptance of UAVs or drones has steadily been increasing across the world for use in commercial applications. Commerical drones are witnessing increased demand owing to their cost-effectiveness and advancements in them over the last couple of years.
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The potential use of commercial drones for inspection & monitoring, surveying & mapping among others has led to advancements and developments in the drone. The demand for commercial drones is experiencing substantial growth, driven by their increasing application across a range of industries including agriculture, delivery services, and infrastructure inspection. This surge in demand is fueled by the drones' ability to significantly improve operational efficiency, enhance safety, and reduce costs. Technological advancements and regulatory changes are also facilitating wider adoption, making drones an indispensable tool in modern commercial operations. With industries recognizing the vast potential of drone technology, the market for commercial drones is set to expand further, reflecting their evolving role in business and operational strategies.
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Based on End Use, the Transport, Logistics and Warehousing segment is anticipated to record the highest growth rate during the forecast period
By End Use, the Commercial Drone market has been segmented into logistics & transportation, agriculture, energy & power, construction & mining, media & entertainment, insurance, wildlife & forestry, academics & research. Logistics & Transportation segment is estimated to record the highest CAGR during the forecast period with the significant growth of the global e-commerce sector, postal companies are opting for new methods to modify their traditional delivery business models. With several countries focusing on the use of commercial drones for postal deliveries, the commercial drone market will witness growth. The US Postal Service is exploring the possibility of introducing commercial drone into its vehicle fleets to advance mail delivery operations and support its collection of geospatial, sensor, image, and other data. Companies such as DJI (China) are actively developing solutions for Drone-based package delivery. Amazon (US) has already developed these services. Lower cost, density of urban environments, and the rising demand for reduced delivery times are contributing to the growth of this segment
Based on Function, the Passenger Drone segment is estimated to register large share in the base year
Based on function, the Commercial Drone market has been segmented into passenger drones, inspection & monitoring drones, surveying & mapping drones, spraying & seeding drones, cargo air vehicles, and others. Passenger Drone segment is projected to record the highest growth during the forecast period with emergence of dronee taxis as convienent means of aerial transportation of passsenger at high speed.
Based on Operational Mode, the Fully Autonomous segment is estimated to register highest CAGR during the forecast period
Based on operational mode, the commercial drone market has been classified into remotely piloted, optionally piloted, and fully autonomous. The remotely piloted segment is projected to grow at a significant rate during the forecast period, driven by the cost-effective usage of remotely piloted UAVs in several applications ranging from defense operations to surveys. Fully autonomous drones significantly enhance operational efficiency and reduce costs across various end use such as agriculture, transport, logistics & warehousing, and Oil & Gas.
The Asia Pacific region is projected to be high growth potential markets for the Commerical Drone market during the forecast period.
Rising number of drone manufacturers in China and India and increased procurement of military drones in Asia Pacific is the lea
China held the leading share in the Asia Pacific Commercial Drone Market during 2023. China is one of the prime manufacturers of drones globally. Surge in E-Commerce, which demand faster delivery times and innovative logistics solutions have boosted the demand for the drones which offers a rapid delivery service
Major players in the Commercial Drone market are DJI (China), Parrot Drone SAS (France), EHANG Holdings Limited (China), Aerovironment, Inc. (US), The Boeing Company (US)
This report segments the Commerical Drone market based on Systems the market is divided into Platform, Payload, Datalink, Ground Control Station and Launch and Recovery System. On the basis of point of sale, the market is fragmented into OEM, and aftermarket. By Platform, the market is classified into Micro, Small, Medium, and Large. By Type, the market is segmented into Fixed Wing, Rotary Wing, Hybrid. The market has also been segmented by Mode of Operation, End Use, Mtow, and Range. The Commerical Drone market has been studied for North America, Europe, Asia Pacific, Middle East, Latin America, and Africa.
The report discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market. This study also includes an in-depth competitive analysis of the key players operating in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
