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Commercial Drone Market to value $125 Bn by 2032
- Published Date: November 11, 2022
Commercial Drone Market size is projected to surpass USD 125 billion by 2032, according to a new research report by Global Market Insights Inc.
Advancements in aircraft hardware and AI technology will become key factors driving demand for business drones. AI continues to transform businesses through automation and is emerging as a source of durable competitive advantages. In the drone industry, AI-powered algorithms are leveraged to detect faults, leaks, and failures, thereby minimizing downtime. With the growing awareness about the role of AI in complex robot development, the reliance on commercial UAVs will rise. Likewise, investment in medical drone delivery has been rising, enabling businesses to expand their footprints.
Research efforts by educational institutions fuel semi-autonomous drone development
Based on the mode of operation, the semi-autonomous commercial drone market is predicted to register over 13 million unit shipments by 2032. This is a result of rapid product development efforts from educational institutions and private technology enterprises. However, semi-autonomous drone inspections are associated with high costs as compared to fully autonomous counterparts, which may hinder business progress to some extent.
Efficiency in long-range flights to augment fixed-wing commercial drone use in ISR service delivery
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The fixed-wing drone segment is anticipated to depict above 10.5% growth rate up to 2032, owing to its simple structure and ability to offer more efficiency in long flight durations at high speeds. The demand for commercial drone systems from diverse industry verticals including the Airforce has also increased.
Browse key industry insights spread across 230 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, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Commercial drone technology to emerge as prominent tool for agricultural research
The agriculture segment held approximately 21% share of the commercial drone market in 2022, on account of the technology’s capability to deliver decision-making insights to farmers through big data analytics. The capitalization of multispectral, hyperspectral, and thermal sensors has also allowed farmers to understand crop conditions and take appropriate and timely measures to nurture them. Additionally, the significant increase in grants for agricultural research will support the growth of commercial drone manufacturers.
Strong presence of UAV manufacturers to stimulate adoption of commercial drone in the APAC region
The Asia Pacific commercial drone market is slated to exhibit around 17.5% CAGR from 2023 to 2032, given the strong presence of established enterprises including Autel Robotics and SZ DJI Technology Co., Ltd., among others The use of UAVs has also surged in China, Japan, and other APAC countries, due to the awareness of civilian drone applications among organizations. Construction engineering companies have also been securing orders in countries such as India, which may amplify the production of commercial drones to capture data on building sites.
Strategic product launches to define competitive landscape
3D Robotics, Airobotics Ltd., Prime Air (Amazon.com, Inc.), BAE Systems, Cyberhawk, Delair, DJI, Guangzhou Jifei Technology Co., Ltd., Hoverfly Technologies, Inc., Intel Corporation, Kespry, and Parrot SA are some of the key players operating in the commercial drone market. These participants are focusing on product range and business expansions, among other strategies, to strengthen their footprint across the globe.
For instance, in June 2021, Parrot SA launched its ANAFI Ai drone for professionals, designed to use 4G as the main data link between operators and drones. With this product launch, the company intended to increase drone cybersecurity and code customization via Software Development Kit (SDK), thus establishing a strong presence in the industry.
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