Global commercial drones market is thriving because of increasing demand for mapping, e-commerce, cloud-based data services and application, and agriculture. The high- reaching demand in sectors, such as agriculture and environment, could promote farming management and green mapping soon.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated that the global commercial drone market at USD 9.43 billion in 2021. During the forecast period between 2022 and 2028, the size of the global commercial drone market is expected grow at an impressive CAGR of 29.8%, reaching a value of USD 54.17 billion by 2028. Drones are ideal for assistance in some of the world’s most arduous professions, as they can be controlled remotely and flown at varying distances and heights. They can help in the hunt for survivors after a hurricane, assist in law enforcement, and be an eye in the sky for the military during terrorist incidents. They also contribute to scientific study in some of the world’s most harsh climates. Drones have even made their way into homes, where they serve as a source of entertainment and a vital tool for photographers. These factors could propel the growth of drones market in the coming years.
Global Commercial Drone Market – Overview
Drones can replace traditional ways of operation in many corporate tasks. This comes after the Federal Aviation Administration increased authorization for commercial, non-hobbyist drone use. Drones can save time and money as they require less human intervention and have no safety infrastructure. They can also improve data analytics, allowing businesses to better understand and anticipate performance. Drones even enable new business models and prospects in some industries. Drones are projected to become commonplace in businesses ranging from insurance to agriculture to journalism. The industrial drone fleet in Europe and the United States will be worth $50 billion and have over 1 million units by 2050, with the majority of the value tied to drone services and data collecting.
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Global Commercial Drone Market – Regional Insights
Asia-Pacific commercial drone market is expected to become the world’s largest during the forecast period. North America could come in second. In 2026, the global commercial drone industry may grow to be worth roughly 58.4 billion dollars. Between 2021 and 2026, the market will likely increase at a compound annual growth rate of nearly 16%.
Impact of COVID-19 on Global Commercial Drone Market
COVID-19 has influenced some of the market application sectors in 2020, since drone procurement is a direct proponent of demand from end-user industries. However, as the restrictions on commercial activities have been relaxed, the commercial drones market has begun to recover since 2021.
Competitive Landscape
SZ DJI Technology Co. Ltd, Terra Drone Corporation, The Boeing Company (Insitu), Parrot Drones SAS, Intel Corporation, Birds Eye View Aerobotics, Yuneec, and Delair SAS are some of the leading companies in global commercial drones market. A few well-established enterprises with a strong foothold dominate the market. Furthermore, numerous small businesses and startups have entered the market recently due to their high profitability. To capture high market share, companies are developing advanced technology-integrated drone hardware and software solutions that reduce human effort in applications, including mining, construction, and aerial mapping. In addition, the advent of corporations, such as Boeing, Alphabet, and Intel, into commercial drones, the market is projected to split the market in the coming years. The emergence of alternative fuel-powered drones could generate significant changes in the competitive environment, as payload, endurance, and flying range are the primary concerns of OEMs and operators alike. Moreover, R&D work in composite-based materials to produce crucial components and parts of drones would improve the platforms’ capabilities and fuel their widespread adoption across many industries.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Commercial Drones Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Commercial Drones Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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