The Global Commercial Drones Market was valued at USD 24.5 Bn in 2020 and is expected to reach USD 68.3 Bn by 2027, with a growing CAGR of 16.50% during the forecast period.
Drones, formally called as Unmanned Aerial Vehicles (UAVs) or Unmanned Aircraft Systems (UASes) are robots that has ability to fly and is operated over a remote control or fly autonomously through flight plans controlled by software. The drones can be extensively used for the commercial purpose in various end use industries to benefit companies with cost savings, enhance safety, and improve operational efficiency for the company.
The global commercial drones market is estimated to grow at a significant pace during the forecast period. The growth is attributed to the increasing demand from several end use industries for task-specific commercial drones and to meet the demand, companies are manufacturing the commercial drones with specified task- specific features. For instance, in June 2020, the Parrot Drones SAS, a leading Europe based commercial drones manufacturing company launched a drone specifically designed for first responders and the enterprise professionals named as ‘ANAFI USA’. The drone is specifically designed with 4K HDR video, 32x zoom, and thermal imaging capabilities to fulfil the demands of first responders, search-and-rescue teams, inspection professionals, security agencies, fire-fighters, and surveying professionals and to work with efficiency.
Increasing focus on technological development in the unmanned drones is propelling the commercial drones market growth. Growth in experiments to increase features and efficiency of drones are observed across developed and developing countries. For instance, in April 2021, a scientist from IIT Hyderabad, India ‘Suraj Bonagiri’ has designed an innovative unmanned drone named ‘Elasticopter’ which has adjustable arms that help it to pick packets of different sizes and shapes. Additionally, the incorporation of advancing technologies such as Machine Learning (ML) and Artificial Intelligence (AI) is anticipated to further boost the commercial drones market growth. For instance, in October 2019, Skydio, an American manufacturer of drones launched a commercial drone named Skydio 2 which combines Artificial Intelligence with 3.5 kilometer of wireless range, 4k60HDR camera, and 23 minutes of flight time.
By End-Use Industry
Based on type, the multi-rotor type drones segment is expected to expand at a highest growth rate during the forecast period owing to better advantages provided compared to other types of drones
Based on types, the commercial drones market is segmented into single rotor drones, multi-rotor drones, hybrid drones, and fixed winged drones. The multi-rotor type drones segment is anticipated to grow at the fastest growth rate during the forecast period. The growth is primarily attributed to the advantages provided by the multi-rotor drone in the photography and surveillance sectors. The multi-rotor drone is the easiest and cheapest option for capturing the area as they provide appropriate control over position and are considered feasible for aerial photography work.
Based on the end-use industry, the media & entertainment accounted for the largest market share in the overall commercial drones market size owing to extensive usage of drones for photography and videography, followed by the convenience stores
The media & entertainment segment held the largest market share in the year 2020 and is expected to continue its growth during the forecast period. The commercial drones market segmental growth is majorly attributed to the significant usage of drone technology in the media and entertainment industry for news coverage in adverse conditions, photography, videography, and much more. The applications of drone are diverse in media and entertainment industry. The media and entertainment sector is capable of investing heavily into the technological infrastructure needed for media coverage. Filmmakers have started utilizing professional drones to capture precise frames. Moreover, the surging demand from clients and owners for advertising tourist spots, resorts, public places, and hotels, among others through aerial photography is expected to propel the commercial drones market growth.
Based on regions, the market for commercial drones in North America accounted for the largest market share in 2020 owing to presence of key market players coupled with growing demand from various industries, followed by Asia Pacific and Europe
Geographically, the North America held the largest market share in the year 2020 and is anticipated to dominate throughout the forecast period. The dominance is majorly attributed to the extensive presence of key players of commercial drones market in the region such as GoPro Inc., 3D Robotics, and Autel Robotics. The large presence of market players in the region ensures the technological innovations, product availability, and huge contribution to the regional revenue generation. For instance, in April 2020, Autel Robotics has launched its new commercial drone series of EVO 2 with huge performance based improvements in its original EVO model launched in 2018.
The surging demand for the small drones from various end use industries is further propelling the market growth in the region. The North American region is well established and possess technologically advanced infrastructure in every sector. Along with this, the North American region also has capacity to invest in new and innovative technology for the commercial usage. For instance, in August 2020, Amazon, the US-based conglomerate received an approval from the Federal Aviation Administration (FAA) for the operation of its fleet for Prime delivery drones.
The report also provides an in-depth analysis of commercial drones market dynamics such as drivers, restraints opportunities and challenges:
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.
COVID-19 Impact on the Commercial drones Market Analysis:
The covid-19 pandemic had a negative impact on the commercial drones market. Before the outbreak of the covid-19, drones were extensively being used in the commercial sector such as media and entertainment for video creation, aerial imaging, and news coverage at drastic conditions or the law and enforcement sector for border surveillance, mapping, and spying among others. The sudden outbreak of the covid-19 pandemic has imposed lockdowns and enforced social distancing norms across the globe. These rules and regulations for isolation have stopped the designing and manufacturing industry owing to a lack of raw material and trained staff to carry out manufacturing operations in the year 2020. The interruptions in the production line of the unnamed aerial vehicle or a drone due to the pandemic have created a shortage in the supply chain of the commercial drones market.
The report also provides an in-depth analysis of key trends in commercial drones market:
The report also provides an in-depth analysis of recent news developments and investments:
The unique insight provided by this report also includes the following:
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Technology and Regulatory Landscape for Commercial Drone
Commercial Drones Market Pricing Analysis
Commercial Drones Market by Types
Commercial Drones Market by Application
Commercial Drones Market by End-Use Industry
Key Strategic Insights
Key Market Trends / Recent Developments
Key Global Players