The Global Commercial Drone Market is anticipated to register a robust CAGR in the forecast period. The primary market drivers are technological advancements and growing commercial drone adoption in the construction, agricultural, and logistics industries. Moreover, machine learning and artificial intelligence are contributing to the growth of Global Commercial Drone Market.
On January 2022, Azur Drones announced new funding of USD9.06 million to aid its expansion in 2022, following a year of rapid growth, particularly internationally. This round of funding, completed with the help of a private French investor, brings the total amount raised since 2016 to more than USD40.16 million. It should aid in the consolidation of the French SME, which is the market leader in drone-in-a-box solutions.
September 2021 – The Indian Ministry of Defense and the United States Department of Defense signed a Project Agreement (PA) for an Air-Launched Unmanned Aerial Vehicle (ALUAV) under the Defense Technology and Trade Initiative’s Joint Working Group Air Systems (DTD).
The commercial drone market experienced numerous fluctuations during the COVID-19 pandemic. Prospects in certain industries, such as manufacturing and hospitality, significantly narrowed throughout 2020, owing to the cessation of all activities in these domains due to the imposition of lockdowns. However, drones became necessary for general surveillance purposes, particularly to ensure that social distancing protocols were followed.
Increasing Demand for Drones
The growing use of small unmanned aerial vehicles for commercial applications such as aerial photography, filmmaking, precision agriculture, wildlife monitoring, entertainment, relief & rescue operations, research & development, and logistics & transportation is expected to drive market growth. Several engineering firms and other businesses are widely utilizing small drones for a variety of commercial projects. In-depth project inspection, maintenance, transmission cable and oil pipeline inspection are also key commercial applications. Due to an increase in demand for home delivery services for food and e-commerce platforms, major technology giant Amazon Inc. and giant logistic companies such as UPS, DHL, and FedEx are heavily investing in the development of drone delivery platforms. An increase in demand for online food delivery services around the world is expected to drive demand for small drones during the forecast period. The Federal Aviation Administration (FAA)approved Amazon’s Prime Air for the drone delivery platform in August 2020. The company intends to expand its unmanned package delivery with a new drone delivery system. Amazon intends to deliver packages to customers in less than an hour and a half.
Advanced Technologies Will Drive Commercial Drone Market Growth
Drones rely heavily on sophisticated technologies, but most of them are still under development. As few drones can fly without human intervention, autonomous flight technology will advance. Developments in dynamic routing handoffs between machine and human controllers, as well as system-failure responses, will drive demand for commercial drones over the next five years. With improved autonomous control, businesses will pursue previously unattainable applications such as unpiloted and repeated surveillance of pipelines, construction projects, and mines.
The commercial drone is in high demand because it improves productivity by lowering overall costs and improving project graphics visualization.
Strict regulations regarding rising satellite adoption
Strict government regulations related to satellite imagery and national security as a replacement option are expected to hamper the growth of the global commercial drone market. Another factor preventing the growth of the global commercial drone market during the forecast period is the growing utilization of satellite imagery.
The Global Commercial Drone Market is segmented by application type, by system, by technology, by type, by payload, by region and competitive landscape. Based on Application, the market is segmented into Delivery & Logistics, Filming & Photography, Inspection & Maintenance, Horticulture & Agriculture, Mapping & Surveying). Based on the System, the market is segmented into hardware and software. Based on the technology, the market is divided into Fully autonomous, Semi-autonomous and Remotely Controlled. Based on the type, the global commercial drone market is divided into Fixed Wing, Rotary blade and Hybrid. Based on the payload the market is segmented into <5kg, 5-25kg, 26-50kg, 51-100kg, Above 100kg.
SZ DJI technologies Co, Ltd, Parrot Drone SA, AeroVironment, Inc., Holy Stone, Teal Drones Inc., Skydio, Inc, Delair, Insitu, Inc., Yuneec Holding Ltd, and AgEagle Aerial Systems Inc. are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
In this report, Global Commercial Drone Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Commercial Drone Market, By Application:
–Delivery & Logistics
–Filming & Photography
–Inspection & Maintenance
–Horticulture & Agriculture
–Mapping & Surveying
• Commercial Drone Market By System:
• Commercial Drone Market By Technology:
• Commercial Drone Market By Type:
• Commercial Drone Market By Payload:
• Commercial Drone Market, By Region:
· United States
–Europe & CIS
· United Kingdom
· South Korea
–Middle East and Africa
· South Africa
· Saudi Arabia
· United Arab Emirates
Company Profiles: Detailed analysis of the major companies present in Global Commercial Drone Market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).