The global Commercial Drone Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global commercial drone market size would touch USD 129.23 billion by 2025, as estimated by Million Insights. Further, the market is projected to expand at over 56% CAGR from 2019 to 2025. Increasing application of commercial drones such as agriculture, real estate, construction, photography and entertainment is driving the market growth.
Key Players:
- Aeronavics
- AeroVironment Inc.
- Aeryon Labs Inc.
- DJI
- Draganfly Innovations Inc.
- EHang
- Intel Corporation
- Parrot Drones SAS
- PrecisionHawk
- Yuneec International
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Growth Drivers:
Drones can easily reach the places where human reach is a difficult task. In addition, UAVs can be equipped with cameras and sensors, thus, facilitating difficult tasks in agriculture and security. Further, various hardware component required for drone operation has become affordable, thereby, leading to increased adoption.
In the recent past, there has been significant improvement in the battery life of drones. In addition, government regulations have attributed to the higher degree of autonomy to the drones. Owing to these factors, drone applications have increased in commercial sectors.
Application Outlook:
- Filming & Photography
- Inspection & Maintenance
- Mapping & Surveying
- Precision Agriculture
- Surveillance & Monitoring
Regional Outlook:
In 2018, North America held the largest share in the market and projected to maintain its dominance over the forecast duration. Introduction of favorable government initiatives in the region coupled with the rise in drone-powered business is driving the growth of the region. In the U.S, the Federal Aviation Administration (FAA) has introduced guidelines regarding the safe and legal operation of drones for commercial purpose.
APAC is projected to be the fastest-growing segment during the forecast duration. Increasing adoption of drones in various application in countries such as Japan and China are attributing to the growth of the region. Drones are known to offer higher productivity as compared to conventional methods, especially in agriculture sector that is facing labor shortage. Europe, on the other hand, is witnessing considerable growth owing to the favorable regulations framed by the European Union government.
MEA is estimated to witness significant growth owing to the well-established oil & gas sector in the region. The use of drones in pipeline maintenance and inspection is gaining traction in the region. African countries are also increasingly adopting drones in medicine and agriculture industries. For example, the government of Tanzania has partnered with Zipline to deliver medical supplies as well as blood in rural areas.
Impact of COVID-19:
The COVID-19 outbreak has positively affected the commercial drones market. The pandemic has forced people to maintain social distance, where the use of drones has surged to combat the pandemics. The epicenter of the pandemic, Wuhan, drone were used in order to deliver medical essentials, which reduced the direct exposure to medical staff. Further, drones were used to check the temperature in a bid to slow the spread of coronavirus. In addition, drones adoption in various other applications such as surveillance, surveying, broadcasting, and delivery necessary items including food has increased to avoid people to people contact.
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