Commercial Drones Market Hit $ 44.39 Billion By 2030 | Rising Demand for Small Drones in Commercial Applications
Commercial Drones Market Size – USD 6.52 billion in 2021, Market Growth – CAGR of 23.9%, Market Trends – Growing demand for commercial drone in agriculture
NEW YORK, NY, UNITED STATES, June 6, 2022 /EINPresswire.com/ — Technological advancements in drone technology and supportive government regulations are among the significant factors influencing the market growth.
The global commercial drone market is expected to reach USD 44.39 Billion by 2030, according to a new report by Reports and Data. Growing demand for commercial drones in several industry verticals, including agriculture, is a significant driver for market growth. The sector will make the monumental shift from traditional to digitalized farming methods. Advanced technology is creating state of the art automated solutions. Enhancement in the technical field has led to advanced imaging capabilities and features in drones. The manufacturers are focusing on developing advanced drones with the built-in ability of global positioning systems (GPS), geographic information systems (GIS), and the autopilot system. These features help farmers to scout their field and in field mapping. Drones ability to distribute fertilizers without harming the soil fertility is expected to drive the market.
Companies in the e-commerce sector are extensively going for drones to transform the last-mile delivery services in a commercial setting. Various governmental legislation that has restricted the deployment of drones for commercial purposes initially have been amended and are assisting the players in the e-commerce industry, along with several parcel delivery firms such as FedEx to use the service. As an instance, the U.S. Federal Aviation Administration previously has banned the utilization of drones for commercial deliveries in the U.S. sky. Nevertheless, the body has modified its regulations and has enabled the use of the UAVs for the delivery of goods under a number of clauses.
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Key participants include DJI, Parrot Drones, Zipline International, Hardis Group, 3D Robotics, INSITU, Flirty, Matternet, PrecisionHawk, Uber Technologies, and Flytrex Aviation Limited, among others.
Further key findings from the report suggest
• By product type, rotary blade drones dominated the market in 2019. The main benefit of rotary commercial drones is the capability for vertical takeoff and landing, enabling the user to operate within a smaller surrounding area. Their ability to hover and perform agile maneuvering makes rotary-wing drones appropriate to applications such as inspections where accuracy maneuvering and the ability to uphold a visual on a single target for prolonged periods of time is required.
• By mode of operation, autonomous commercial drones are likely to witness the fastest growth rate in the period 2020-2027
• By application, filming & photography contributed to the largest market share of over 25.0% in 2019. The advantage of using commercial drones for filming & photography is that it enables to take images from a higher perspective. The majority of drones, predominantly the ones made for advanced users, have built-in cameras that have the ability to rotate and swivel to let the operator to capture photos and videos from varied angles.
• By industry vertical, construction and real estate is projected to grow at a rate of 51.7% in the forecast period. Drones can fly in unreachable and hazardous areas and gather data easily, while providing real-time information, resulting in significant enhancement in surveying precision.
• The market in the Asia Pacific region is likely to grow at the fastest rate of 54.1% in the forecast period, attributed to heavy investments made by the Indian and Chinese companies into drone delivery technology, as well as growth of the end-user industries.
• In February 2019, Insitu Commercial Solutions, a leading market player, conducted a series of aerial data collection operations in Papua New Guinea subsequent to obtaining its first nod to carry out commercial unmanned aircraft systems (UAS) operations. These products allow Insitu’s customers/clients to make cognizant business decisions more quickly than through conventional means of data collection.
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For the purpose of this report, Reports and Data have segmented the global commercial drones market on the basis of product type, application, mode of operation, industry vertical, and region:
Application Outlook (Revenue, USD Billion; 2019-2030)
• Filming & Photography
• Inspection & Maintenance
• Mapping & Surveying
• Precision Agriculture
• Surveillance & Monitoring
Product Type Outlook (Revenue, USD Billion; 2019-2030)
• Fixed Wing
• Rotary Blade
Operation Outlook (Revenue, USD Billion; 2019-2030)
• Remotely Operated
Industry Vertical Outlook (Revenue, USD Billion; 2019-2030)
• Delivery & Logistics
• Media & Entertainment
• Construction & Real Estate
• Security & Law Enforcement
Regional Outlook (Revenue, USD Billion; 2019-2030)
• North America
• Latin America
• Middle East & Africa
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Key Advantages of Commercial Drones Report:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Commercial Drones industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Commercial Drones market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.