Farmington, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The global Commercial Drone Market size was valued at USD 13.44 Billion in 2022. It is expected to expand at a compound annual growth rate (CAGR) of 57.5% from 2023 to 2030. In terms of quantity, it was anticipated that in 2020 there would be a demand for 689,4 thousand units. There are now a variety of applications for drones, including cinematography and emergency response. In addition, the real estate and construction industries have a significant need for these devices due to their ability to survey land, provide constant and accurate project notifications, boost safety, and prevent hazardous mishaps on construction sites.
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There has been a tremendous increase in the number of commercial use cases for drones during the past few years. Market participants, such as firms that build drones and companies that provide software solutions, are constantly designing, testing, and enhancing products that can be utilised in multiple markets.
Commercial Drone Market Recent Developments:
- February 2022 - Saudi Arabia and a significant territorial media communications organization declared a cooperation to foster commercial drone’s innovation. An update of understanding was endorsed between the King Abdulaziz City for Science and Technology and Zain Saudi Arabia. The two will cooperate on drone innovative work, as indicated by the Saudi Press Agency.
- Under the Trade Initiative's Joint Working Group Air Systems andDefense Technology, the United States and India's Ministry of DefenseDepartment of Defense settled on a Project Arrangement for an Air-Launched Unmanned Aerial Vehicle in September 2021.
Commercial Drone Market Segmentation Analysis:
In terms of volume, the segment of rotary blades accounted for almost 80.0% of the market in 2020 and is predicted to maintain its dominance during the forecast period. Due to its ability to retain a visual on a single target for an extended amount of time, hover, and perform agile manoeuvres, the inspection market for rotary-blade drones is projected to develop. Typically, these drones are useful for a wide range of commercial applications, including filmmaking and photography, surveillance, and monitoring. In addition, they are simpler to manage than their fixed-wing and hybrid equivalents.
In 2020, the filming and photography category accounted for around 31.0% of the market's revenue and is predicted to maintain its dominance throughout the forecast period. Professional photographers are increasingly accepting drones as a means of gaining a competitive advantage, as they are becoming an intrinsic part of the field. Companies such as DJI are manufacturing miniature drone cameras capable of capturing high-quality photographs for professional photographers. Additionally, previously inaccessible landscapes and locations are now easily accessible.
In 2020, the media and entertainment sector owned almost 27.0% of the market share and is likely to maintain its dominance throughout the forecast period. Drones have a number of media and entertainment uses. Filmmakers have begun using professional drones to take precise shots at the lowest possible cost. The rising demand from clients and owners for advertising resorts, hotels, tourist spots, public spaces, and amusement parks via aerial photography is likely to fuel the segment's expansion.
Regional Outlook:
North America represented roughly 37.0% of the market share in 2020 and is anticipated to witness considerable growth over the next seven years as a result of favourable government efforts, developments in drone technology, and increased demand from enterprises in a range of industries. Additionally, the Federal Aviation Administration (FAA) of the United States has established new regulations to provide clearer and more uniform guidelines for the legal and safe flying of UAVs in commercial situations. These rules and regulations are predicted to reduce entrance barriers and increase product adoption in the region.
Asia-Pacific is projected to experience the biggest volume growth between 2021 and 2028, with a compound annual growth rate of 63.1%. Regional demand for commercial drones is anticipated to approach 9 million units by 2028, surpassing that of North America. Positive regulatory conditions, particularly in developed nations, are anticipated to propel the market's growth.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 57.5% from 2023 to 2030 |
| Market Size in 2022 | USD 13.44 Billion |
| By Product | Fixed-wing, Rotary Blade, Hybrid |
| By Application | Filming & Photography, Inspection & Maintenance, Mapping & Surveying, Precision Agriculture, Surveillance & Monitoring, Others |
| By End User | Agriculture, Delivery & Logistics, Energy, Media & Entertainment, Real Estate & Construction, Security & Law Enforcement, Others |
| By Companies | Yuneec Holding Ltd, Skydio, Inc., Parrot Group, Intel Corporation, Teal Drones, Ehang Holdings Limited, AeroVironment Inc., 3D Robotics, Inc., and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Commercial Drone Market Growth Factor:
As a result of ongoing specialised developments in devices such as cameras, portable equipment, CPUs, microcontrollers, and current personal computers, robot manufacturers have modernised their product offerings. As a result of these enhancements, organisations can now develop and operate within their own walls estimation and explanation tools for estimating distance, volume, and area. As a result, organisations from all over the world are increasingly seeking artificial intelligence (AI) and man-made intelligence (MI) solutions to extract valuable outcomes from a mountain of data and information obtained from a huge variety of data of interest.
ADVANCES IN ARTIFICIAL INTELLIGENCE TECHNOLOGY, WHICH MONITOR AND STORE ENORMOUS AMOUNTS OF DATA, make it possible for UAVs to work more efficiently As a result of the global COVID-19 pandemic, there has been a huge increase in the use of robot technology in a number of settings, with drones proving to be of tremendous service in such scenarios. In order to reduce the amount of time spent travelling and the risk of infection, drones are rapidly being utilised in the medical care industry for a number of functions, including the transportation of lab tests and clinical supplies. More than eighteen countries, according to the United Nations Children's Fund (UNICEF), have utilised drones as a form of transportation and conveyance during the pandemic. rambles' adoption of cutting-edge technology such as Artificial Intelligence (AI) and Machine Learning (ML) helps the company to capitalise on enormous new economic prospects.
Commercial Drone Market Key Segments Covered:
Top Market Players:
Yuneec Holding Ltd, Skydio, Inc., Parrot Group, Intel Corporation, Teal Drones, Ehang Holdings Limited, AeroVironment Inc., 3D Robotics, Inc., and Others.
By Product
- Fixed-wing
- Rotary Blade
- Hybrid
By Application
- Filming & Photography
- Inspection & Maintenance
- Mapping & Surveying
- Precision Agriculture
- Surveillance & Monitoring
- Others
By End-use
- Agriculture
- Delivery & Logistics
- Energy
- Media & Entertainment
- Real Estate & Construction
- Security & Law Enforcement
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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