Commercial Drone Market Size, Industry Trends Report | 2031

Report Description

The global commercial drone market size was valued at USD 13.60 billion in 2020 and is expected to expand at a CAGR of 57.2% during the forecast period, 2021–2028. The growth of the market is attributed to owing to their ability to provide ongoing and precise project notifications, survey land, improve safety, and prevent dangerous incidents on construction sites.

Commercial drones, also called as unpiloted aircraft, are used for a variety of commercial purposes including filmmaking and emergency response. Using drones, users can map out elevated infrastructure that may have damaged power lines or unstable roofs, and for search and rescue operations in dangerous and inaccessible locations.

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Drones equipped with Artificial Intelligence (AI) can better comprehend surroundings, accurately map areas, track and monitor the movement of specific objects, and provide precise analytical feedback. They also give their users the ability to make real-time and data-driven decisions by ensuring that data is captured, processed, and transferred quickly. Drones with high-speed internet can communicate in high-demand environments and perform tasks such as media sharing, command and control, and autonomous flight.

With the outbreak of the COVID-19 pandemic, governments across the globe imposed several restrictions and measures to curb the virus spread or at least reduce the risk of contamination. Drone technology was seen widely adopted by businesses to monitor their operations and other activities, which had resulted a significant increase in the use of drone. As per the global reports, more than eighteen countries have deployed drones for delivery and transportation purposes during the pandemic.

Market Trends, Drivers, Restraints, and Opportunities

• Rapid proliferation of advanced technologies into the drone system and solutions is expected to boost the market growth.
• Adoption of drones in law and enforcement and wide application of such devices in other industries such as logistic and construction are major key factors of the market.
• Stringent government regulations on the operation of drone system for the privacy and security purpose is a key hurdle anticipated to hinder the market growth rate.
• Lack of trained pilots and experts handling drones is projected to hamper during the forecast period.
• Increasing economic opportunities and transport convenience provided by drones are creating lucrative opportunities for the market growth in the coming years.

Scope of Commercial Drone Market Report

The report on the global commercial drone market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Commercial Drone Market Segment Insights 

Filming & photography segment to expand at a considerable CAGR

On the basis of applications, the commercial drone market is segmented into mapping & surveying, precision agriculture, surveillance & monitoring, filming & photography, inspection & maintenance, and others. The filming & photography segment is projected to expand at a considerable CAGR during the forecast period. Drones are becoming an integral part of professional photography and photographers are increasingly using them to gain a competitive advantage. On the other hand, the precision agriculture segment is anticipated to account for a major market share during the forecast period as drones have become one of the most important tools for managing farm operations.

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Rotary blade segment to account for significant share of the market

In terms of products, the market is divided into rotary blade, hybrid, and fixed-wing. The rotary blade segment is expected to account for significant share of the market due to their ability to maintain a visual on a single target for an extended period of time, hover, and perform agile maneuvering. Moreover, they are becoming more popular for inspection activities. However, the hybrid segment is expected to hold a large market share as it offers combined benefits of batteries and fuel to increase their power and efficiency.

Media & entertainment segment to expand at a considerable CAGR

Based on end-users, the commercial drone market is divided into energy, media & entertainment, real estate & construction, security & law enforcement, agriculture, delivery & logistics, and others. The media & entertainment segment is projected to expand at a considerable CAGR during the forecast period as professional drones are now being used by filmmakers to capture precise frames in the most cost-effective manner possible. However, the delivery & logistics segment is expected to become more prominent as drones are being used in e-commerce warehouses for product warehousing and delivery in response to the growing demand for quick delivery of goods.

North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to growing demand for effective transport and logistic tools from numerous industries. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period as a favorable regulatory environment particularly among major economies in the region.

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