USD 4.92 billion
Commercial Drone Market Size, Share, Growth Analysis, By Product Type, By Propulsion Type, By Range, By Weight, BY Operating Mode, By System, By Function, By End User, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2044 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
239
|Figures:
84
Commercial Drone Market Insights
Global Commercial Drone Market size was valued at USD 4.92 billion in 2022 and is poised to grow from USD 5.48 billion in 2023 to USD 13 billion by 2031, growing at a CAGR of 11.4% during the forecast period (2024-2031).
Drones are employed for a variety of tasks, including filming and emergency response. Due to their capacity to survey 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.
Drone business use cases have expanded significantly over the past few years. Designing, evaluating, and upgrading solutions for diverse markets is an ongoing task for market participants like drone producers and software providers.
Contrarily, it is anticipated that traditional use cases, such as security, surveillance, and monitoring, will expand mostly in industries with high labour costs and crime rates.
Drones are frequently used for search and rescue operations as well as mapping out elevated infrastructure that may have damaged electrical lines and unstable roofs in hazardous and inaccessible locations.
Since the COVID-19 pandemic spread over the globe, there has been a noticeable surge in the use of drone technology in a variety of contexts, with drones proving to be incredibly helpful in such circumstances.
US Commercial Drone Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Rotary Blade
Fastest Growth
Rotary Blade
Growth Rate
11.4% CAGR
Global commercial drone market, 2022-2030(Bn)
Country Share for North America Region- 2022 (%)
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Commercial Drone Market Segmental Analysis
Global commercial drone market is segmented by product type, propulsion type, function, range, weight, operation mode, system, function, end user and region. Based on product type the market is segmented into fixed-wing drones, rotary-wing drones, hybrid drones, and others. Based on propulsion type, the market is segmented into gasoline, electric, and hybrid based on range, the market is segmented into visual line of sight (VLOS), extended visual line of sight (EVLOS), and beyond visual line of sight (BVLOS). Based on weight, the market is segmented into <25 kg, 25kg - 500 kg, and >500 kg. Based on operation mode, the market is segmented into remotely piloted, optionally piloted, and based on system, the market is segmented into hardware (airframes, propulsion systems, sensors, navigation systems, and payloads) software (flight control software, data analytics software, and mission planning tool) services (drone-as-a-service, maintenance and repair services, and training and consulting), and other. Based on function, the market is segmented into passenger drones, inspection & monitoring drones, surveying & mapping drones, spraying & seeding drones, cargo air vehicles, and others. Based on end user, the market is segmented into agriculture, delivery & logistics, energy, media & entertainment, real estate & construction, security & law enforcement, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & And Africa.
Commercial Drone Market Analysis by Type
In terms of volume, the rotary blade category held the maximum market share in 2021 and is likely to continue dominating the market during the estimated time period. Rotational sharp edge drones are anticipated to become more and more common for inspection tasks due to their capacity to float and make light-handed movements while maintaining a visual on a single goal for extended periods of time. According to the system, the hybrid categorization is anticipated to have the largest share of the market in 2021. During the anticipated time, section extension should be fueled by the growing use of robots for corporate applications including pipeline evaluation, aerial photography, reconnaissance, and inspecting natural life.
Commercial Drone Market Analysis by Application
With a revenue share of about 31.5%, the sector of film and photography is likely to continue to dominate the market during the forecast period. In order to obtain a competitive edge, drones are rapidly being adopted by photographers and are fast becoming a necessary component of professional photography. Professional photographers may shoot high-quality images using the small drone cameras that businesses like DJI are developing. Since drones are now essential for controlling crucial farm activities, the precision agriculture market is expected to grow at the highest CAGR of more than 60.0%. Agriculture costs are being reduced and yields are being increased by farmers all over the world.
Global commercial drone market size by type , 2022(%)
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Commercial Drone Market Regional Insights
On the basis of region, it is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa(MEA). The commercial drones market is largely dominated by North America. This pattern is expected to persist over the projection period as a result of rising business demand for data obtained by drones and supportive government activities pertaining to the development of drone technology.
As new technology and automation are being adopted by China and Japan to combat rising labour costs, the APAC area will continue to expand at a rapid rate. Its usage across APAC is expected to soar as a result of increased efficiency in the agricultural industry. Because of governmental limitations, commercial drone sales are stable in Europe. Businesses in the commercial drones sector are looking for novel ways to change by utilising the advantages provided by UAVs.
Global commercial drone market size by geography, 2022-2030
- Largest
- Fastest
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Commercial Drone Market Dynamics
Commercial Drone Market Drivers
Rapidly Increasing Novel Hobbies are Bolstering Demand for Commercial Drones
- It is anticipated that market growth will be fueled by the growing use of small automated ethereal vehicles for commercial endeavours such as advanced photography, filmmaking, accuracy agribusiness, regulation and requirement, untamed life checking, amusement, calamity the board, help and salvage activities, research and advancement, planned operations and transportation, and development.
- Due to an increase in popularity of online food delivery services worldwide, interest in small robots is predicted to increase in the next few years.
Commercial Drone Market Restraints
Lack of Skilled Workers to Hinder Market Growth
- The market growth for skilled pilots and ineffective uniform air traffic management may be hampered. Drones are typically used for commercial, military, and everyday purposes anywhere on the earth.
- Business and end users have observed major restrictions on drone travel in several nations for a considerable amount of time. Some nations allow commercial flying for tiny robots beyond visual range, whereas others require a permit.
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Commercial Drone Market Competitive Landscape
Top Player’s Company Profiles
- DJI
- Parrot SA
- Intel Corporation
- AeroVironment, Inc.
- Delair
- Autel Robotics
- Skydio
- EHang
- Kratos Defense & Security Solutions
- Workhorse Group Inc.
- Draganfly Inc.
- Terra Drone Corporation
- Matternet
- Volocopter
- Honeywell International Inc.
- Airbus S.A.S.
- Northrop Grumman Corporation
- Lockheed Martin Corporation
- Wingtra
- Zipline
Commercial Drone Key Market Trends
- The high cost of UAVs and drones is restricting the market's expansion because they are mostly built with pricey autonomous functions that run on AI-powered navigation and operational software, raising the final cost of a product.
- The need for agricultural UAVs/drones has also grown as a result of the gradually intensifying focus on enhancing field production and efficiency. This will help grow more and better goods by more effectively utilising resources like soil, water, fertiliser solutions, chemicals, and so on. The development of sensing technology also contributes to ensure that the crop and soil are given the proper attention.
Commercial Drone Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research
According to our analysis, Drones are heavily reliant on sophisticated technology, yet the majority of these technologies are still in the early stages of development. Autonomous flying technology will continue to advance as fewer drones can fly without human control. Demand for commercial drones will be driven by advancements in dynamic routing handoffs between machine and human controllers and system-failure responses over the next five years. Businesses will pursue illusive uses of autonomous control, such unpiloted, recurrent observation of pipelines, mines, and building sites.
Due to these considerations, there is a great demand for drones in the commercial sector as they increase productivity by lowering costs overall and improving project graphics representations. Particularly in the construction and real estate sectors, the use of unmanned aerial vehicles (UAVs) has demonstrated a considerable improvement in tracking accuracy. In the commercial drones sector, advanced technological advancement in UAVs is anticipated to open up new work opportunities.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.92 billion |
| Market size value in 2031 | USD 13 billion |
| Growth Rate | 11.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Commercial Drone Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Commercial Drone Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Commercial Drone Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Commercial Drone Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Commercial Drone Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Commercial Drone Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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