Rockville, MD, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The global commercial drone services market is expected to secure a valuation of US$ 5.8 billion in 2023. During the forecast period of 2023-2033, the market for commercial drone services is expected to exhibit a CAGR of 14.8% and reach US$ 23.0 billion by the end of 2033.
Commercial drone services have gained popularity in different industry verticals including energy, construction, agriculture, real estate, and others. The market growth gained traction with increasing registration of commercial drones and government approval towards drone utility for commercial purposes.
Inspection, mapping & surveying, delivery, spraying & seeding, photography & filming are key services offered by commercial drone service providers. With the substantial development of the e-commerce industry, the market has gained huge demand for package delivery. Also, cost & time efficiency offered through drones over the traditional approach of inspection, mapping, filming, and others is projected to create lucrative opportunities for market development.
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Key Takeaways from Market Study
- The energy and construction sectors together are observed with more than 30.0% of the share in demand for commercial drone services.
- During the forecast period (2023-2033), the market is projected to rise with a CAGR of 14.8%
- Among Regions, North America is expected to have a leading share in the market with 29.0% of the total market.
- Based on region, demand for commercial drone services is expected to increase at a CAGR of 15.1%, and 15.7% respectively, in Europe and East Asia.
“Infrastructure development to exhibit the demand for commercial drone services,” says a Fact.MR analyst.
Segmentation of the Commercial Drone Services Market
- By Service Type:
- Mapping & Surveying
- Inspection
- Photography & Filming
- Localization & Detection
- Delivery
- Spraying & Seeding
- Others (Not Covered Elsewhere)
- By End-use Industry:
- Energy
- Construction
- Transportation & Warehouse
- Agriculture
- Mining, Oil & Gas Extraction
- Public Administration
- Real Estate & Industrial Plant
- Entertainment & Recreational
- Safety & Security
- Educational Services
- Waste Management
- Healthcare & Insurance
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Market Development
The business environment in the commercial drone services market continues to reflect a rollup within the industry despite extreme competition. To gain a substantial hold in the market, key market players are employing organic and non-organic strategies like the launch of aerial drone photography and videography service by AeroVisionz. Furthermore, these market players are taking efforts to increase their customer base by focusing on diverse end-users as well as regions.
Competitive Landscape
The market is highly competitive with the increasing popularity of drone services in various industry verticals. Market players are taking favorable moves regarding service launches and mergers & acquisitions to stay competitive in the market. This factor is leading to the tremendous expansion of the commercial drone services market.
For instance,
- In April 2022, Wing a drone delivery company in the United States introduced the first-ever commercial drone delivery services in the United States.
- In September 2022, Valqari acquired IDU Group to establish a drone delivery infrastructure by offering mail, packages, and others with the help of drones.
Key Companies Profiled
- Aerial drone solution
- Aerial Vision Ltd
- AERIUM Analytics
- Aerodrome
- Aero Enterprises
- Astral Aerial Solutions
- Celestis
- Cyberhawk
- Dronegy
- DJM Aerial Solutions
- Drone Base
- Drone Dispatch
- Drone Evolution
- DDC Smart Inspection
- EagleHawk
- Enterprise UAS
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global commercial drone services market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of service type (mapping & surveying, inspection, photography & filming, localization & detection, delivery, spraying & seeding and others (not covered elsewhere)), end-use industry (energy, construction, transportation & warehouse, agriculture, mining, oil & gas extraction, public administration, real estate & industrial plant, entertainment & recreational, safety & security, educational, services, waste management and healthcare & insurance) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Drone Filming Services Market: The global drone filming services market is expected to reach a valuation of US$ 274.4 million in 2023. During the forecast period (2023-2033), worldwide demand for drone filming services is projected to increase significantly at a CAGR of 17.4% and reach a market size of US$ 1,364.8 million by the end of 2033. The drone filming services market is about 4.0% of the overall drone service market valued at around US$ 6.6 billion in 2023.
Drone Propellers Market: The drone propellers market is estimated to reach valuation of US$ 867.4 million in 2023 and will top US$ 4,388.2 million by 2033, growing with a CAGR of around 17.6 % from 2023-2033. In 2023, the global drone accessories market is estimated to be valued around US$ 20,659 million, while the drone market is projected to grow at 20.7% CAGR. Drone propellers is one of the important part of the drone and the revenue generation from the sales of drone propellers accounted for nearly 4.2% share of the global drone accessories market at the end of 2022.
Drones Rental Business Market: The global drone rental business market is valued at US$ 91.9 million in 2023. The market is expected to expand rapidly at a CAGR of 17.8% and reach a valuation of US$ 472.8 million by the end of 2033. Renting a drone is cost-efficient for individuals as well as businesses. On average, renting a drone cost around US$ 25-75 per day and a maximum of around US$ 100 in certain cities in the United States. Owing to such cost efficiency, the drone renting service market will expand substantially during the forecast period.
Aerial Video Services Market: The global aerial video services market is valued at US$ 274.6 million in 2023. The market is expected to expand rapidly at a CAGR of 17.5% and reach a valuation of US$ 1,377.7 million by the end of 2033. The aerial video services market is about 4% of the overall drone service market valued at around US$ 6.6 billion in 2023.
Drone as a Service Market: The global drone as a service market is expected to reach a valuation of US$ 6.6 billion in 2023. The market is further expected to grow at a CAGR of 14.3% over the next 10 years and attain a market value of US$ 25.2 billion by the end of 2033. The drone services market accounts for ~18-20% of the total drone market. However, across hardware, software, and services, it is expected that services will witness the highest growth during the forecast period, and will achieve a market share of more than 50% of the total drone market.
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