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[ 176 + Pages Research Report ] Global Commercial Drone Market to surpass USD 41.25 billion by 2030 from USD 13.65 billion in 2021 at a CAGR of 22.17 % throughout the forecast period, i.e., 2029-30.
Product Overview
A drone is an aircraft that does not have a pilot but is controlled by someone on the ground, used especially for surveillance or for dropping bombs. They are also called unmanned aerial vehicle which provides a 24-hour "eye in the sky". They increase safety, save time and resources, fast-track surveying, and deliver accurate measurements. They are often used in manned aircraft risky missions. The autonomy of a ground operator or board computer is provided via remote control. They are an important component of modern warfare. Some equipment can carry missiles and reach the target with great precision. In monitoring and rescue operations, drones are also used. Smaller aircraft were used to gather information about the hostile locations before a mission. These devices are suitable for supplying food and water in areas affected by natural disasters, including floods and earthquakes.
Market Highlights
The Global Drones Market is anticipated to exceed USD 41.25 billion by 2030 from USD 13.65 billion in 2021 at a CAGR of 22.17 % throughout the forecast period, i.e., 2029-30. The global drones market is estimated to grow on the back of the following reasons. The increasing demand for security, aerial services, growing use of digital technology, and demand from various sectors of society backs up the growth of the Commercial Drone Market. Moreover, Drones help in reducing the labor and time involved in the traditional method of collecting accurate information. They eliminate most of the human error involved in the process. Hence, all these factors are projected to aid the growth of the Drones market.
Global Commercial Drones Market Opportunity Analysis
Global Commercial Drones Market: Segments
The Media and Entertainment segment is anticipated to register XX% of the volume share and is expected to grow at the highest CAGR.
On the basis of application the Commercial drones market is divided into agriculture and Environment, Media and Entertainment, Energy, Government, Construction and Archaeology, and others. Drones are used widely for filmmaking, video and aerial photography, and capturing events and activities. The introduction of UAVs has been designed to change the media landscape because it enables the reporting landscape to cover news in places where human entry is not permitted. Such systems can also be used to effectively capture action scenes in films from inaccessible aerial views.
The fixed wings drones segment is anticipated to register XX% of the volume share
On the basis of type, the market is bifurcated as fixed wings drones, Rotary Blade drones, and Hybrid drones. In broader regions fixed types are recommended, as a result of their ability to fly prolonged time in high altitudes, for activities such as topographical surveys, aerial mapping, and field modeling. The hybrid drones segment is projected to grow at the highest CAGR during the projected period because they provide greater battery power, battery capacity, and payload.
Global Commercial Drone Market: Drivers and Restraints
DRIVERS
Improvements to Infrastructure
Drones deliver superior strength and intelligence on the job sites. Their ability to gather and report data allows them to complete the work more quickly. Everything but excluded from the equation is the need for manual labor. In the future, drones will certainly play many more important roles that are involved in major projects. These are designed to reduce the time it takes to create or build infrastructure, thus reducing costs. Contractors who are adapting drones are going to make much more money and gain more efficiency.
Transportation and Inspection
The introduction of drones in construction sites inspection means amplification of worksite safety by eliminating a number of dangers and safety hazards. Using drones to transport goods aerially allows companies to reach difficult locations and keep track of everything that enters and leaves the job site. It is economical, efficient and keeps the site secure. As drones are typically small with high maneuverability rates, they are increasingly being used as an alternative to conventional vehicles. Even better, drones don't have to abide by traffic laws that allow them to deliver within a fraction of the time, using half of the resources.
RESTRAINT
Privacy and security concerns
The Privacy and national security regulations are expected to have a negative impact on the growth of the Global Commercial Drone Market. Since the drones have to sometimes go through localities which might interrupt the privacy of the people and hence caters as a factor negatively affecting the growth of global Commercial Drone Market.
Lack of traffic regulations
Government restrictions on the use of UAVs and the lack of air traffic control legislation will impede growth in the global unmanned aerial vehicle market (UAV). Usage of aircraft is regulated for commercial purposes by the Federal Aviation Administration ( FAA). A license is required and flying regulations need to be followed for the correct functioning of air traffic, failure to which can lead to serious civil penalties.
Global Commercial Drone Market: Region
North America to register highest CAGR during the forecast period
The global drones market is segmented on the basis of regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the rest of the world are classified as Middle-East and Africa.
The global drones market in North America held the largest market share of XX% in the year 2019. Factors such as efficiency, reduction in labor costs, and real-time imagery of a large area, coupled with factors like increased security of borders are anticipated to propel the growth of the drones market in North America.
The global Commercial Drone market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- UK, Germany, France, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia-Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- India, China, South Korea, Malaysia, Japan, Indonesia, Australia, New Zealand and Rest of Asia-Pacific
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- North Africa, Israel, GCC, South Africa and Rest of Middle East and Africa
Global Commercial Drone Market:Key Players
AeroVironment Inc
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SZ DJI Technology Co Ltd
Parrot SA
3D Robotics
Leptron Unmanned Aircraft system
Precision Hawk Inc
Yuneec International Co Ltd
Aeryon Labs Inc
Trimble Navigation Ltd
Insitu Inc
Other prominent players
The Global Commercial Drone Market Report also contains an analysis on:
Commercial Drone Market by segment:
By Product Type
Fixed Wings Drones
Rotary Blade Drones
Hybrid Dron
By Application
Agriculture and Environment
Media and Entertainment
Energy
Government
Construction
Archaeology
Others
Commercial Drones Market Size
Commercial Drones Market Dynamics
Supply and Demand
Current Issues/trends/challenges
Competition and Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
. Commercial Drone Market Report Scope and Segmentation
Report Attribute Details
The market size value in 2021 USD 13.65 billion
Revenue forecast in 2031 USD 14.25 billion
Growth Rate CAGR of 22.27% from 2021 to 2031
Base year for estimation 2021
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Type, End-use, application, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled AiroVironment Inc, SZ DJI Technology Co Ltd, Parrot SA, 3D Robotics, Leptron Unmanned Aircraft system, Precision Hawk Inc, Yuneec International Co Ltd, Aeryon Labs Inc, Trimble Navigation Ltd, Insitu Inc, and Other Prominent Players