Pune, India, July 27, 2021 (GLOBE NEWSWIRE) -- The global drone Services market size was USD 7.12 billion in 2020. The market is projected to grow from USD 9.56 billion in 2021 to USD 134.89 billion in 2028 at a CAGR of 45.9% in the 2021-2028 period. This information is published by Fortune Business Insights™, in its report, titled, “Drone Services Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed-wing and Rotary-wing), By Application (Aerial Photography, Delivery & Pick up, Surveillance & Inspection, Data acquisition & Analytics, and Remote Sensing & Environment Monitoring), By End-Use (Agriculture, Homeland Security, Oil & Gas, Logistics, Infrastructure, Media & Entertainment, and Others), and Regional Forecast, 2021 – 2028.”
According to our researchers, the rising usage of drones has empowered the Services delivering industry to expand drastically and suddenly across the world. Furthermore, unmanned aircraft systems (UAS) alternatively known as drone providing facilities that involve monitoring, environment surveillance, aerial photography, and plotting among others. These drones deliver solutions to numerous establishments for drawing up real-time tactics.
Worldwide COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Growing Demand for Supply Drones in Medical Industry amid COVID-19 to Augment Growth
There has been witnessed an affirmative effect of the COVID-19 pandemic on this market. The market is perceiving a noteworthy escalation in demand for drones for marketable as well as military employment. Moreover, the surging demand for drones and their Services in the healthcare sector is anticipated to fuel the market growth.
As per the study published by Drone Industry Insights, drone corporations amplified by about 15% in size in the year 2020.
As per a report issued by UNICEF, eighteen nations advanced drone delivery Services and transference amid the COVID-19 crisis. Additionally, countries such as Rwanda, Malawi, and Ghana make use of drones to provide COVID-19 materials and goods, general medical supplies, and medical testers.
Report Coverage
The market report provides a complete assessment of fragments of the market. A wide-ranging study of the present trends and forthcoming prospects in the market is offered in the report. It correspondingly delivers a comprehensive examination of the regional dynamics and how these aspects form the market growth in the corresponding regions. The effect of the COVID-19 pandemic is revealed for further understanding of the conceivable risks in the market. The proficient tactics of the highest players and how they steer the market growth are revealed in the following report.
Drivers and Restraints
Rising Demand for Aerial Photography and 3D Scanning in BIM to Support Growth
Photography has emerged as a popular source for countless executions by utilizing high-resolution devices owing to the excess obtainability of cost-effective drones. Aerial photography offers broader prospects in large township schemes, multi-story structure developments, and smart city ventures. Therefore, the surging demand from the real estate and construction industry is fuelling the market growth.
Additionally, drones utilize camera radars and 3D scanning for Building Information Modelling (BIM) usage, further steering the market growth. An upsurge in the admiration of drones, particularly in commercials and movie-making across the globe is estimated to thrust the drone Services market growth during the mentioned time period.
Regional Insights
North America held the maximum drone Services market share and was worth USD 2.46 billion in 2020. This development is accredited to the increasing implementation of progressive drones for marketable as well as defense usages. The existence of important players such as Aerodyne Group, Matternet, and Flirtey among others navigate the market growth across this region.
Asia Pacific is expected to display significant growth during 2021-2028 owing to numerous drone Services providers in this region, such as Skylark Drone, Terra Drone, and Australian UAV. Additionally, rising demand for innovative drones, increasing expenditure on research & development from China and India is likely to lift market growth.
In Europe, the market is probable to demonstrate substantial growth during the forecast period owing to the considerable escalation in commercial drone suppliers in leading countries such as the U.K., Germany, and Spain among others.
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Segmentation
On the basis of type, the global market is separated into fixed-wing and rotary-wing. The rotary-wing segment held maximum shares in 2020 and endure its supremacy during the forecast period. Rising demand for these drones in the commercial sector owing to the design welfares in several applications such as transport and drone distributions.
By application, the market is segregated into aerial photography, delivery & pick up, surveillance & inspection, data acquisition & analytics, remote sensing & environment monitoring, and others.
On the basis of end-use, the market is categorized into agriculture, homeland security, oil & gas, logistics, infrastructure, media & entertainment, and others.
In terms of geography, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and the rest of the world.
Competitive Landscape
Crucial Players Emphasize on Business Enlargement via Acquisitions and Improved Tactics
The competitive situation of the market represents the authority of leading companies such as Terra Drones, Zipline, Cyberhawk, and others. These vital companies concentrate on rising speculation in research and development, expanded product collection of drone Services solutions, and tactical procurement.
Fortune Business Insights™ lists out a few of the renowned companies present in the drone services market. They are as follows:
- Aerodyne Group (U.S.)
- AgEagle Aerial Systems Inc. (U.S.)
- CYBERHAWK (U.K)
- Flirtey (U.S.)
- MATTERNET (U.S.)
- Phoenix Drone Services LLC (U.S.)
- Sky Futures (U.K)
- Skylark Drones (India)
- Terra Drone (Japan)
- Zipline (U.S.)
Key Industry Development
January 2021: Sony introduced the Airpeak drone at CES 2021. The drone comprises an alpha mirrorless camera to receive high-resolution videos and images. It is expected to be presented in the year 2021.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- List of Battery Producers in Marine Sector
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Drone Services Market
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- Impact of COVID-19 Pandemic on Global Drone Services Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Potential Opportunities due to COVID-19 Outbreak
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TOC Continued...!
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