Commercial Drone Market Size, Share, Growth, Opportunity, & Trend Analysis, By Type (Fixed-Wing Drones, Multirotor Drones, Hybrid Drones), By Application (Mapping & Surveying, Filming & Photography, Surveillance & Monitoring, Inspection & Maintenance, Horticulture and Agriculture), By End-User (Agriculture, Security & Law Enforcement, Inspection & Monitoring, Film and Entertainment, Construction and Engineering, Utilities and Energy), By Region (North America, Asia-Pacific, Europe, Latin America, Middle East, Africa, By Application, By End-User, Regional Stance, Competitive Tactics, and Segment Forecast to 2031

Commercial Drone Market Overview:

Reports & Insights delivers key insights on the global commercial drone market. In terms of revenue, the global commercial drone market is estimated to expand at a CAGR of 20.6% during the forecast period.

Commercial Drone Market Report Analysis:

The Reports and Insights team has prepared a comprehensive market research report on the commercial drone market, with a focus on identifying the key drivers, trends, challenges, and opportunities that business owners face. The report includes a market segmentation forecast, a geographic perspective, and an analysis of recent developments. Moreover, it provides detailed information on the market size, market share, industry, and product insights, as well as SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market forecast, and major players operating in the market.

The commercial drone market refers to the industry that produces, sells, and operates unmanned aerial vehicles (UAVs) for commercial purposes. These drones are equipped with cameras, sensors, and other technologies that allow them to perform a variety of tasks in industries such as aerial photography, surveying, agriculture, construction, and inspection. The market for commercial drones is rapidly expanding due to technological advancements, a rise in demand for drone-based services, and regulatory changes that have made it easier to operate drones commercially. The commercial drone market is a significant driver of innovation and economic growth in many countries.

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Commercial Drone Market Size and Market Share:

The market has expanded due to an increase in demand from several industries such as agriculture, construction, oil and gas, real estate and property management, mining and quarrying, and others leading to a boost in the market share. Also, partnership and collaboration led to gaining a competitive advantage in the market.

Scope of the Report:

Report Metric      	Report Details      
Market size available for the years      	2021-2031      
Base year       	2022      
Forecast Period      	2023-2031 
CAGR	20.6%
Segment covered	By Type, By Application, By End-User, and By Region.
Regions Covered      	North America:  The U.S., & Canada    Latin America: Brazil, Mexico, Argentina, & Rest of Latin America    Asia Pacific: China, India, Japan, Australia & New Zealand, ASEAN, & Rest of Asia Pacific    Europe: The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe    Africa: North Africa, Egypt, & Rest of Africa     The Middle East: GCC Countries, Israel, & Rest of the Middle East
Fastest Growing Region in Asia-Pacific	China
Largest Market	North America
Key Players      	DJI, Parrot SA, Yuneec International Co. Ltd, 3D Robotics, AeroVironment Inc, PrecisionHawk Inc, Kespry Inc, senseFly Ltd, Autel Robotics USA LLC, Intel Corporation, Altavian Inc, Insitu Inc, Walkera Technology Co. Ltd, Lockheed Martin Corporation, Northrop Grumman Corporation, CybAero AB, Ehang Inc, GoPro Inc, Draganfly Inc, and SZ DJI Technology Co. Ltd, amongst others.

 

Commercial Drone Market Drivers:

Increased Demand for Drone Services:

The increased demand for drone services in various industries is driving the market. Drones are being used in a wide range of applications, and their versatility and cost-effectiveness have made them a popular choice for businesses looking to improve efficiency and reduce costs. Here are some of the ways drones are being used in key industries which include agriculture, real estate, construction, and infrastructure inspection.

Awareness of Benefits:

The rise in awareness of the benefits of drone technology is driving the commercial drone market. As more businesses and industries become aware of the potential applications of drones, and the advantages they offer over traditional methods, demand for drone services is likely to increase. Some of the key benefits are cost-effectiveness, efficiency, safety, and scalability. Owing to this factor the demand for the commercial drone is expected to be boosted.

Commercial Drone Market Challenges:

Safety and Security Concerns:

Safety and security concerns are indeed one of the major challenges faced by the commercial drone market. Drones can pose safety and security risks, particularly in crowded or sensitive areas. Concerns around drones include the risk of collisions with other aircraft, the potential for drones to be used for nefarious purposes such as espionage or terrorism, and the risk of drones interfering with critical infrastructure such as power grids. Owing to this factor the market growth is expected to be hampered.

Commercial Drone Market Opportunities:

Advancements in Technology:

Advancements in technology are one of the opportunities in the commercial drone market. Such as improvements in flight time, range, and payload capacity have expanded the capabilities of drones and made them more suitable for a wider range of applications. For example, longer flight times and greater ranges make drones more effective for tasks such as crop monitoring, wildlife conservation, and pipeline inspections. The development of autonomous capabilities has also opened new opportunities for drones to perform tasks such as aerial surveys and mapping, and has made them more efficient and cost-effective, this is expected to create significant opportunities for the commercial drone market.

Global Market Expansion:

Global market expansion is indeed a major opportunity in the commercial drone market. Such as the commercial drone market is expanding globally and is experiencing significant growth in various regions, including Asia-Pacific and Europe. The increased adoption of drone technology by businesses and governments across the world is a key factor driving this expansion, this is expected to create significant opportunities for the commercial drone market.

Commercial Drone Market Trend:

The use of drones for delivery is an emerging trend in the commercial drone market. Companies like Amazon, UPS, and DHL are already testing drone delivery services in various regions, and this trend is expected to continue as drone technology advances and regulations evolve. The benefits of using drones for delivery include faster and more efficient delivery times, reduced costs, and reduced carbon emissions. Drones can bypass traffic and other obstacles, allowing for faster and more direct delivery routes. This can be particularly beneficial for urgent deliveries or deliveries to remote areas. This trend is expected to drive growth in the commercial drone market over the coming years.

Commercial Drone Market Segmentation Outlook:

The commercial drone market is segmented based on type, application, end-user, and region.  

By Type:

• Fixed-Wing Drones
• Multirotor Drones
• Hybrid Drones

By Application:

• Mapping & Surveying
• Filming & Photography
• Surveillance & Monitoring
• Inspection & Maintenance
• Horticulture and Agriculture

By End-User:

• Agriculture
• Security & Law Enforcement
• Inspection & Monitoring
• Film and Entertainment
• Construction and Engineering
• Utilities and Energy

By Region:

• North America 
• Asia-Pacific 
• Europe 
• Latin America 
• Middle East 
• Africa 

Commercial Drone Market Regional Stance:

North America region is expected to dominate the commercial drone market throughout the forecast period, the US will lead the market followed by Canada. The growth of the market is driven by the presence of major drone manufacturers and the high adoption of drones in industries such as agriculture, construction, and energy. This will expand the market in North America region throughout the forecast period.

Asia-Pacific region is expected to witness significant growth in the market throughout the forecast period. Whereas China leads the market followed by India and Japan. The growth of the market is driven by the increased use of drones in industries such as agriculture, construction, and mining. This will expand the market in the Asia-pacific region throughout the forecast period.

Contemporary Development by Key Players:

• In 2021, UPS Flight Forward announced a partnership with German drone manufacturer Wingcopter to develop a new type of delivery drone for package delivery in rural areas.
• In February 2021, Skydio launched the Skydio X2D, a drone designed for defense and enterprise applications with advanced AI and computer vision capabilities.
• In April 2021, Autel Robotics launched the Autel Evo II Dual 640T, a drone with thermal imaging capabilities for search and rescue, inspection, and public safety applications.
• In April 2021, Parrot launched the ANAFI Ai drone, featuring an AI-powered camera and advanced obstacle avoidance capabilities.
• In April 2021, Skydio raised $170 million in funding to further develop its AI-powered drones.
• In 2021, DroneDeploy, a leading drone mapping and analytics platform, raised $50 million in funding to expand its offerings.
• In 2021, Intel launched the Intel Falcon 8+ drone, featuring advanced imaging and mapping capabilities for industrial inspections and surveys.
• In 2021, EHang, a Chinese drone manufacturer, announced the launch of its new EH216F drone for aerial firefighting and emergency response.
• In 2021, French drone manufacturer Azur Drones announced the launch of its Skeyetech drone-in-a-box solution for automated surveillance and security.
• In 2021, UAVOS, a drone technology company, announced the successful completion of a test flight of its new ApusDuo drone, capable of carrying heavy payloads up to 101 kg.