Commercial Drone Market size worth over $55 BN by 2027
Published Date: July 26, 2021 Authors: Preeti Wadhwani, Smriti Loomba
Commercial Drone Market size is set to surpass USD 55 billion by 2027, according to a new research report by Global Market Insights Inc.
Phase of expansion with new trends and technologies taking a hold of the market, revolving around data boosting the industry growth. Two of the primary market drivers include AI and drone data, which enterprises access in making feasible and informed decisions, with customers benefitting from cost-effective solutions and value for data.
Increasing affordability in design and integrated data intelligence is expected to propel the uptake of commercial drone solutions
The commercial drone market has observed growing demand, as the legalization and adoption of commercial drones by government authorities have brought many new valuable avenues for business and usability. The rising adoption of UAVs for commercial purposes is enabling enterprises to use UAV-based systems for mapping. The UAV-based system provides accurate information with visible details of the targeted land surface when compared to traditional surveying methods. The demand for advanced obstacle detection drones across enterprises is poised to fuel the market revenue.
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Browse key industry insights spread across 335 pages with 445 market data tables and 37 figures & charts from the report, “Commercial Drone Market Size By Type (Fixed Wing Drone, Rotary Blade Drone, Hybrid Drone), By Mode of Operation (Remotely Operated, Semi-autonomous, Autonomous), By Application (Aerial Photography, Agriculture, Emergency Management, Inspection & Monitoring, Remote Sensing & Mapping, Wildlife Research & Preservation), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
High maneuverability and vertical flight features is likely to augment the hybrid drone market growth
The hybrid drone segment is expected to see exponential growth of above 15% CAGR through 2027 owing to the drone’s ability to take off vertically and start-flight from any spot akin to a helicopter. The wings of the hybrid drone support the traversing of long distances without high energy utilization. This makes the drone very proficient and durable, highlighting the technological improvements made in the market.
Increasing demand of commercial drones with minimum human assistance supporting the growth of autonomous drones
The adoption of autonomous commercial drone is anticipated to register over 3 million shipments by 2027. Autonomous drones are expected to be deployed in various use cases as the need for the implementation of drone technology increases exponentially where humans cannot reach conveniently and independence in machine use is required. Additionally, the growing emphasis on drones to deliver goods between locations is positively impacting the overall commercial drone market statistics.
Extensive need of drone-based video capture will surge the growth across aerial photography sector
The aerial photography industry accounted for around 30% of the market revenue share in 2020. Aerial photography leads the application segment on account of the convenience and ease with which the technology can be operated for filming, videography, and photography in media & entertainment. The application is widely used in real estate and retail for marketing and business strategies. The companies specializing in imagery technologies are also focusing on the development of aerial photography tools including drones.
Highly matured commercial drone acceptance and relaxation in government policies are spurring the North America market growth
The North America commercial drone market is set to capture 30% share by 2027. Federal authorities are focusing on enhancing the regulatory framework for the use of commercial drones, buoying the market growth. For instance, in December 2020, the U.S. Department of Transportation’s Federal Aviation Administration announced new rules for the drones. The authority instructed drone operators to ensure remote identifications and ensure certain conditions during flight operations.
Focus on augmenting R&D capabilities by key players to amplify market share
The global commercial drone landscape has witnessed a strong affinity on innovation and research by vendors to tighten their market presence. For instance, in July 2021, Drone Delivery Canada Corporation received an acceptance of patent for proprietary drone delivery solution. This helped the company to fill the market gaps in its drone delivery solutions. Similarly, in January 2021, American Robotics received a grant from the Federal Aviation Administration of the U.S. for its autonomous commercial drones. With this approval, the company can operate its automated drones integrated with detect & avoid technology across the country Some of the key players operating in the commercial drone market include 3D Robotics, AeroEnvironment Inc., Airobotics Ltd., BAE Systems, Cyberhawk, Delair, DJI, DroneDeploy, Ehang Inc, Guangzhou Jifei Technology Co., Ltd., Hoverfly Technologies, Inc., Intel Corporation, Kespry, Parrot SA, PrecisionHawk, Prime Air (Amazon.com, Inc.), senseFly, Walkera Technology Co., Ltd., Xiaomi Inc. and Yuneec International.
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