Global Commercial Drone Market is Expected to Grow at a CAGR of 12.6% over the Forecast Period (2024 – 2034): A Report by TNR, The Niche Research

Wilmington, Delaware, July 04, 2024 (GLOBE NEWSWIRE) -- The global commercial drone market has witnessed substantial growth in recent years, driven by advancements in technology and a widening range of applications across various industries. Drones, or Unmanned Aerial Vehicles (UAVs), have transitioned from military and recreational uses to becoming indispensable tools for businesses seeking efficiency, cost-effectiveness, and enhanced operational capabilities.

Visit our Homepage

One of the significant trends shaping the commercial drone market is the increasing adoption of drones for aerial surveillance, monitoring, and inspection purposes. Industries such as agriculture, construction, oil and gas, and utilities are leveraging drones to gather real-time data, improve safety, and optimize resource management. In agriculture, drones equipped with sensors and imaging capabilities enable farmers to monitor crop health, detect diseases early, and optimize irrigation, leading to increased yields and reduced costs. The integration of artificial intelligence (AI) and machine learning (ML) in drone technology is driving market growth. AI-powered drones can autonomously analyze data collected during flights, providing actionable insights and predictive analytics. This capability is particularly valuable in industries like insurance, where drones are used for assessing property damage and expediting claims processing. Another emerging opportunity lies in the delivery services sector, where drones are being tested and deployed for last-mile deliveries of goods and medical supplies. Companies like Amazon and UPS are exploring drone delivery options to shorten delivery times and reach remote locations efficiently.

Global Commercial Drone Market: Key Datapoints

Regulatory advancements and government initiatives supporting UAV integration into civilian airspace have facilitated market expansion. Regulatory frameworks are evolving to accommodate drone operations while ensuring safety and privacy, thereby boosting market confidence and investment. Technological advancements have significantly enhanced drone capabilities, including longer flight times, improved battery life, better payload capacity, and enhanced data transmission capabilities. These advancements have broadened the scope of drone applications across industries, from aerial photography and mapping to disaster management and infrastructure inspection. Furthermore, cost-effectiveness and operational efficiency offered by drones are compelling factors for businesses. Drones can perform tasks faster and at a lower cost compared to traditional methods, such as manned aircraft or ground inspections, leading to cost savings and increased productivity.

Get Sample Copy of the Report

The COVID-19 pandemic has both challenged and accelerated the commercial drone market. While initial disruptions in supply chains and project timelines were observed, drones emerged as essential tools for maintaining business continuity. Drones were deployed for disinfection, monitoring social distancing measures, and delivering medical supplies in pandemic-affected areas, highlighting their versatility and resilience in crisis situations. The pandemic accelerated the adoption of drone technology in industries such as healthcare, logistics, and e-commerce. Drones were increasingly used for contactless delivery and monitoring, reducing human-to-human contact and minimizing infection risks.

Key Takeaways of the Report: 

• Software segment by offering is expected to grow at a CAGR of 5.8% in the commercial drone market due to increasing demand for sophisticated drone management, analytics, and control software. These solutions enhance operational efficiency, data processing capabilities, and compliance with regulatory requirements, driving adoption across various industries.
• Multi-rotor segment by type dominated the commercial drone market with a substantial revenue share of 35.5% due to its versatility, maneuverability, and suitability for a wide range of applications such as aerial photography, surveillance, and inspection. Multi-rotor drones are preferred for their stability, ease of operation, and cost-effectiveness in diverse operational environments.
• Small drones segment in the commercial drone market is anticipated to be the second largest with a revenue share of 30.7% in 2023 due to their compact size, affordability, and capability to perform various tasks like aerial photography, surveillance, and delivery in constrained or urban environments where larger drones may be impractical or restricted.
• Battery-powered drones’ segment by power source dominated the global commercial drone market due to advancements in battery technology, enabling longer flight times and increased payload capacities. Additionally, battery-powered drones offer operational flexibility, environmental sustainability, and lower operational costs compared to fuel-powered alternatives, driving their widespread adoption across various industries.
• Brushless segment by motor type is anticipated to grow fastest over the forecast period due to its higher efficiency, reduced maintenance requirements, and enhanced durability compared to brushed motors. Brushless motors offer superior power-to-weight ratios, smoother operation, and longer lifespan, making them ideal for high-performance commercial drone applications that demand reliability and performance.
• Semi-autonomous segment by operation mode dominated the commercial drone market with a substantial revenue share of 48.8% due to its ability to combine human control with automated features, providing flexibility, safety, and regulatory compliance. This mode is preferred for applications requiring real-time decision-making and precise control over drone operations in varied operational environments.
• By application, surveillance and security segment is anticipated as second leading segment with revenue share of 16.1% due to increasing concerns over safety and security across various sectors. Drones provide cost-effective and efficient solutions for monitoring, patrolling, and securing critical infrastructure, facilities, and events, driving their adoption in surveillance applications.
• In 2023, Europe is anticipated as second leading region in the global commercial drone market due to supportive regulatory frameworks, extensive investments in drone technology, and a diverse range of applications across industries like agriculture, construction, and infrastructure. These factors contribute to the region's significant growth and adoption of commercial drones.

Following are the major companies active within the global commercial drone market:

• 3DR, Inc.
• Aeronavics Ltd.
• AeroVironment Inc.
• Autel Robotics
• Draganfly Innovations Inc.
• EHang     
• Intel Corporation
• Parrot Drones SAS
• PrecisionHawk Inc.
• YUNEEC International
• Other Industry Participants

Browse Related Category Reports

Global Commercial Drone Market

By Offering

• Hardware
• Software
• Services

By Type

• Multi-rotor
• Fixed-wing
• Single-rotor helicopter
• Fixed-wing hybrid VTOL

By Size

• Micro
• Small drones
• Medium drones
• Large drones

By Power Source

• Battery-powered drones
• Gasoline-powered drones
• Hydrogen fuel cell drones
• Solar drones

By Motor Type

• Brushed
• Brushless 

By Operation Mode

• Semi-Autonomous
• Autonomous
• Remotely Operated

By Application

• Aerial Photography and Videography
• Mapping and Surveying
• Agriculture
• Infrastructure Inspection
• Construction and Mining
• Environmental Monitoring
• Disaster Management and Emergency Response
• Surveillance and Security
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)  

Consult with Our Expert:

Jay Reynolds

The Niche Research

Japan (Toll-Free): +81 663-386-8111

South Korea (Toll-Free): +82-808- 703-126

Saudi Arabia (Toll-Free): +966 800-850-1643

United Kingdom: +44 753-710-5080

United States: +1 302-232-5106

Email: askanexpert@thenicheresearch.com

Website: www.thenicheresearch.com