Commercial Drone Market: Segmented: by Type (Fixed wings drones, Rotary Blade drones, and Hybrid drones); by Application (Agriculture and Environment, Media and Entertainment, Energy, Government, Construction and Archaeology and others); By Region (North America, Asia-pacific, Europe, Latin America, and Middle-East and Africa)- Analysis of market share, size & trends for 2016-19 and forecasts to 2030.
[ 170 + Pages Research Report ] 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.
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.
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.
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.
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.
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.
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:
Commercial Drone Market by segment:
|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|
|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|
The Commercial Drone Market size was estimated at USD 13.65 billion in 2021 and is expected to reach USD billion 41.25 by 2031.
Key players are 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
The Media and Entertainment segment and segment is anticipated to hold the Global Commercial Drone Market
Drivers: Improvements to Infrastructure and Transportation and Inspection
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.
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