USD 21,7043.6 Mn Global Commercial Drone Market Size Expected to Grow at a CAGR of over 56.4% During 2022-2028 | Vantage Market Research

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WASHINGTON, Sept. 05, 2022 (GLOBE NEWSWIRE) — Drones are hired for a variety of tasks, including filming and emergency response. Due to their capacity to survey the property, offer ongoing and accurate project alerts, increase safety, and prevent hazardous accidents on construction sites, these devices are also in high demand in the real estate and construction sectors. As a result, drone business use cases have expanded significantly over the past few years. Participants in the industry, such as producers of drones and software, are continuously developing, evaluating, and upgrading solutions for diverse markets. The Global Market revenue was valued at USD 14,829.5 Million in 2021.

The Global Commercial Drone Market size is forecast to reach USD 21,7043.6 Million by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 56.4% during the forecast period; states Vantage Market Research, in a report, titled Commercial Drone Market Size, Share & Trends Analysis Report by Product (Fixed Wing, Rotary Blade, Hybrid), by Application (Filming & Photography, Inspection & Maintenance, Mapping & Surveying, Precision Agriculture, Surveillance & Monitoring, Other Applications), by End Users (Agriculture, Delivery & Logistics, Energy, Media & Entertainment, Real Estate & Construction, Security & Law Enforcement, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

Key Industry Findings & Insights from the report:

  • The global Commercial Drone Market was valued USD 14,829.5 Million in 2021 and is all set to surpass USD 21,7043.6 Million by 2028, exhibiting a CAGR of 56.4% during the forecast period 2022-2028.
  • In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
  • In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
  • The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
  • North America captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Commercial Drone industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

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Market Dynamics:

Drivers:

Increasing Demand for Small Drones in Commercial Applications

The market is anticipated to grow as a result of the growing use of small uncrewed aerial vehicles for a variety of commercial purposes, including aerial photography, filmmaking, precision agriculture, law & order, wildlife monitoring, entertainment, disaster management, relief & rescue operations, research & development, logistics & transportation, and construction. In addition, small drones are being widely adopted by a number of engineering firms and other businesses for several commercial tasks. In-depth project inspection, maintenance, transmission cable inspection, and oil pipeline inspection are other important commercial uses. In the upcoming years, a demand increase for unmanned systems in the oil and gas, energy, and power generation sectors is likely to drive market expansion. Furthermore, due to a rise in demand for home delivery services for food and e-commerce platforms, the primary technology giant Amazon Inc. and giant logistic companies, such as UPS, DHL, and FedEx, are investing heavily in developing drone delivery platforms. During the forecast period, a surge in demand for online food delivery services across the globe is anticipated to fuel small drone demand.

The Federal Aviation Administration (FAA) gave Amazon’s Prime Air permission to use its platform for air drone delivery services in August 2020. The business intends to use a new drone delivery system to extend unmanned package delivery. Amazon promised to deliver packages to its customers in less than an hour and a half.

Development of Remote Sensing and Advanced ADS-B Transponder Technologies

Drones are ideal for precisely deploying advanced sensors in quasi-static 3D space. Due to their maneuverability and capacity to fly at any low speed, Commercial Drone Markets provide precision flight control and operations even in windy areas. Drone use for infrastructure inspection, photogrammetric survey, and forest monitoring are rising in popularity. These programs are built around remote sensing operations. To transmit extremely exact location information to the ground-based operators and also directly to other drones, ADS-B uses a trig transponder that is combined with a GPS. The precision of this information transmission, known as ADS-B Out, is greater than that of traditional radar monitoring. As a result, drones equipped with ADS-B give air traffic controllers the option to reduce the desired departure distance between drones. A long-range UAV with an air-cooled boxer engine and fuel injection is called the High Eye Air boxer. The UAV has a payload capacity of 5 kg and can be equipped with numerous payloads, sensors, and other hardware, making it a highly adaptable platform suitable for combat operations.

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide and the Global Commercial Drone Market is not an exception. Governments across the world implemented several measures like strict lockdown to ensure social distancing norms to restrict the swift spread of the pandemic. The Commercial Drone Market suffered as the manufacturing units around the world were forced to shut down during the initial stages of the pandemic. Small and medium-scale companies which are the backbone technology providers to the Commercial Drone Market industry were directly affected due to the epidemic. Furthermore, the rollout for the Commercial Drone Market industry too is taken into consideration as the aftereffects of the pandemic are gradually coming down since the beginning of 2022.

The situation is seen to improve in the second half of 2022 as more supplies resume normal. Vantage Market Research, while performing the analysis study for the Global Commercial Drone Market has considered the impact of COVID-19 on the Commercial Drone Market globally and the subsidiaries for the Commercial Drone Market industry. In addition, the demand and supply chain is considered while estimating the current and forecast market size for the Global Commercial Drone Market industry for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic

a. North America

b. Europe

c. Asia Pacific

d. Latin America

e. Middle East & Africa

  1. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  2. Key Strategies Undertaken by Companies to Tackle COVID-19
  3. Long-Term Dynamics
  4. Short-Term Dynamics

The report on Commercial Drone Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles

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Regional Analysis:

North America is expected to dominate the growth of Commercial Drone Market in 2021. North America is predicted to steer the Commercial Drone Marketplace proportion dueto the growing use of Commercial Drone Markets and the presence of major drone manufacturers in the U.S. For instance, In May 2021, the Federal Aviation Administration (FAA) reported that 872,694 drones had been registered in the country.

List of Prominent Players in Commercial Drone Market:

  • Aeronavics Ltd.
  • AeroVironment Inc.
  • Autel Robotics
  • DJI
  • Draganfly Innovations Inc.
  • EHang Inc.
  • Intel Corporation
  • Parrot Drones SAS
  • PrecisionHawk Inc.
  • Yuneec

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on “Commercial Drone Market Size, Share & Trends Analysis Report by Product (Fixed Wing, Rotary Blade, Hybrid), by Application (Filming & Photography, Inspection & Maintenance, Mapping & Surveying, Precision Agriculture, Surveillance & Monitoring, Other Applications), by End Users (Agriculture, Delivery & Logistics, Energy, Media & Entertainment, Real Estate & Construction, Security & Law Enforcement, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)“.

Recent Developments:

January 2022, Azur Drones announced new funding of roughly USD 9.06 million to assist its expansion in 2022, following a year of great growth, particularly internationally. This round of funding, which was done with a private French investor, raises the total amount raised since 2016 to over USD 40.16 million. It should help the French SME, which is the market leader in drone-in-a-box solutions, consolidate its position.

February 2022, Saudi Arabia and a key regional telecoms business announced a deal to develop Commercial Drone Market technology. The King Abdulaziz City for Science and Technology and Zain Saudi Arabia signed a memorandum of agreement. According to the Saudi Press Agency, the two will collaborate on drone research and development.

Key Questions Answered in The Report:

  • Which region will show the fastest and highest growth in the near future?
  • Which are the top five players and their weakness and strength of the Market?
  • What will be the future innovation in the upcoming six years?
  • Which application and product will lead the largest share of the Market?
  • What are the growth drivers, restraints and challenges of the industry?
  • What will be the CAGR and size of the Commercial Drone Market for the base year and forecast period?

This market titled “Commercial Drone Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2021
Historic Years 2016-2020
Forecast Years 2022-2028
Segments Covered  • Product
     • Fixed Wing
     • Rotary Blade
     • Hybrid

 • Application
     • Filming & Photography
     • Inspection & Maintenance
     • Mapping & Surveying
     • Precision Agriculture
     • Surveillance & Monitoring
     • Other Applications

 • End Users
     • Agriculture
     • Delivery & Logistics
     • Energy
     • Media & Entertainment
     • Real Estate & Construction
     • Security & Law Enforcement
     • Other End Users

 • Region
     • North America
     • Europe
     • Asia Pacific
     • Latin America
     • Middle East & Africa

Region & Counties Covered  • North America
     • U.S.
     • Canada
     • Mexico

 • Europe
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest Of Europe

 • Asia Pacific
     • China
     • Japan
     • India
     • South Korea
     • South East Asia
     • Rest Of Asia Pacific

 • Latin America
     • Brazil
     • Argentina
     • Rest Of Latin America

 • Middle East & Africa
     • GCC countries
     • South Africa
     • Rest Of Middle East & Africa

Companies Covered  • Aeronavics Ltd.

 • AeroVironment Inc.

 • Autel Robotics

 • DJI

 • Draganfly Innovations Inc.

 • EHang Inc.

 • Intel Corporation

 • Parrot Drones SAS

 • PrecisionHawk Inc.

 • Yuneec

Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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