Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "Smart Commercial Drones Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The smart commercial drones market size has grown exponentially in recent years. It will grow from $11.65 billion in 2023 to $14.51 billion in 2024 at a compound annual growth rate (CAGR) of 24.6%. The smart commercial drones market size is expected to see exponential growth in the next few years. It will grow to $35.23 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%.
The growth observed in the historic period was driven by a surge in demand for aerial surveillance, regulatory changes enabling commercial drone usage, expansion of e-commerce, increased need for cost-effective inspection and monitoring solutions, growing interest in precision agriculture, and heightened use in environmental monitoring.
Anticipated growth in the forecast period is attributed to the rising demand for efficient delivery services, increased adoption of precision agriculture techniques, growing necessity for infrastructure inspection and monitoring, expanded applications in law enforcement and disaster management, heightened use in environmental monitoring and conservation efforts, and growing popularity of aerial cinematography in entertainment and media. Key trends expected in the forecast period include advancements in AI and machine learning, integration of IoT sensors and real-time data analytics, improvements in battery life and payload capacity, adoption of drone swarming technologies, and enhancements in sensor technology.
The growth of the smart commercial drone market is expected to be driven by the expanding e-commerce industry. E-commerce refers to the online buying and selling of goods and services, encompassing activities such as online retail stores, digital marketplaces, auction sites, and service platforms. This growth is fueled by factors such as convenience, global accessibility, increased internet penetration, diverse product offerings, and cost-effectiveness. Smart commercial drones enhance e-commerce operations by improving delivery speed, customer satisfaction, and operational efficiency. For instance, in February 2024, the United States Census Bureau reported that e-commerce sales in 2023 reached $1.11 trillion, up 7.6% from 2022, constituting 15.4% of total sales, compared to 14.7% in 2022.
Leading companies in the smart commercial drone market are focusing on innovation, particularly in technologies such as Remote Drone Surveillance Technology (RDST) and integrated cargo drones, to enhance safety, navigation, and operational efficiency. RDST allows drones to monitor surroundings, avoid obstacles, maintain communication with ground control, and adapt to changing environmental conditions during flight. For instance, A2Z Drone Delivery launched the RDST Longtail in September 2023, equipped with advanced features such as the RDS2 drone winch for safe payload delivery.
In April 2024, TCOM L.P., a US-based aerospace company specializing in ISR solutions, acquired Equinox Innovative Systems to expand its portfolio in tethered and untethered unmanned aircraft systems (UAS). This acquisition enhances TCOM's capability to offer comprehensive products across various sectors, including aerospace, defense, and commercial industries. Equinox Innovative Systems is known for manufacturing drones that serve diverse operational needs within these sectors.
North America was the largest region in the smart commercial drones market in 2023. The regions covered in the smart commercial drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart commercial drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Smart Commercial Drones Market Competitive Landscape and Company Profiles
- Intel Corporation
- Overview
- Products and Services
- Strategy
- Financial Performance
- Northrop Grumman Corporation
- Yamaha Motor Co. Ltd.
- EHang Holdings Limited
- Elbit Systems Ltd
Smart Commercial Drones Market Other Major and Innovative Companies
- General Dynamics Mission Systems Inc.
- Hindustan Aeronautics Limited (HAL)
- Shenzhen DJI Sciences and Technologies Ltd
- Yuneec International
- AeroVironment Inc.
- Insitu Inc.
- Aurora Flight Sciences Corporation
- Zipline International Inc.
- Parrot SA
- Autel Robotics Co. Ltd.
- Quantum-Systems GmbH
- 3D Robotics Inc
- Swellpro Technology Co. Ltd
- Aeryon Labs Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $14.51 Billion |
| Forecasted Market Value (USD) by 2028 | $35.23 Billion |
| Compound Annual Growth Rate | 24.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Smart Commercial Drones Market Characteristics
3. Smart Commercial Drones Market Trends and Strategies
4. Smart Commercial Drones Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Smart Commercial Drones Market Size and Growth
5.1. Global Smart Commercial Drones Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Smart Commercial Drones Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Smart Commercial Drones Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Smart Commercial Drones Market Segmentation
6.1. Global Smart Commercial Drones Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Fixed-Wing
- Multirotor
- Others Types
6.2. Global Smart Commercial Drones Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Airframe
- Payload
- Guidance
- Navigation and Control
- Propulsion System
6.3. Global Smart Commercial Drones Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Delivery Drones
- Agriculture Monitoring
- Oil and Gas
- Law Enforcement
- Disaster Management
- Entertainment
- Media and Mapping
- Networking for Remote Areas
- Environmental Drones
- Other Applications
7. Smart Commercial Drones Market Regional and Country Analysis
7.1. Global Smart Commercial Drones Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Smart Commercial Drones Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/uwa04z
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