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Commercial Drones Market by Product, End-user, and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 159
  • SKU: IRTNTR40635
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The commercial drones market share is expected to increase by USD 23.63 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 38.46%.

This commercial drones market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers drones market segmentation by product (software and services and hardware), end-user (infrastructure, media and entertainment, public safety, agriculture, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The commercial drones market report also offers information on several market vendors, including Aeronavics, AeroVironment Inc., AgEagle Aerial Systems Inc., Airbus SE, DroneDeploy Inc., EHang Holdings Ltd., Holy Stone, Influential Drones, Inmarsat Global Ltd, Parrot Drones SAS, PrecisionHawk Inc, Skycatch Inc., Skydio Inc., Skydrop LLC, Teal Drones Inc, Teledyne Technologies Inc., Trimble Inc., Wi Fi Alliance, Yuneec International Co. Ltd., Zipline International Inc., and Microsoft Corp among others.

What will the Commercial Drones Market Size be During the Forecast Period?

Commercial Drones Market Size

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Commercial Drones Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rise in applications of drones is notably driving the commercial drone market growth, although factors such as restrictive laws and regulations governing UAV use may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the commercial drone industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Commercial Drones Market Driver

One of the key factors driving growth in the commercial drone market is the rise in the applications of drones. Historically, drones were adopted by the defence and military industry. However, technological advances led to the use of drones in diversified applications such as agriculture, construction, mapping, logistics, and surveillance. The logistics sector is witnessing expanding applications of drones. Several logistics companies have either tested or are testing deliveries using drones. For instance, in September 2020, Zipline International Inc.(Zipline) partnered with Walmart inc. (Walmart) on commercial drone delivery to bring drone delivery services to the US. Zipline uses fixed-wing drones rather than rotorcraft, which provides them with a comparatively large payload capacity and extremely long range at the price of a substantially more complicated launch, landing, and distribution operation. The use of drones can effectively deliver goods in a shorter time than that required by road transport. Such development in drones is expected to propel the global commercial drone market.

Key Commercial Drones Market Trend

Then new developments and launches of consumer drones are a commercial drone market trend that is expected to have a positive impact in the coming years. The continuous development and launch of new drones, their components, and software solutions by vendors are primary trends in the market. Companies from different end-user industries have started adopting drones to manage their assets, monitor sites, inspect facilities, capture real-time data, and analyze data to gain insights. To cater to the increasing demand for commercial drones, vendors are launching new products and software solutions. Such developments will further encourage other vendors to produce innovative products. A few developments are mentioned below: In November 2020, DJI launched its new agricultural drone products, the T30 and T10, which feature dynamic systems to increase work efficiency and accuracy. In July 2020, EHang launched the latest version of the EHang 216 as a firefighting drone. Such product and software solution launches will increase the availability of new and advanced drone products and software solutions for end-users, which can boost the adoption of commercial drones.

Key Commercial Drones Market Challenge

The restrictive laws and regulations governing UAV use will be a major challenge for the drones market during the forecast period. Drones have a wider operational range than manned aircraft, along with other differentiating physical and operational characteristics. Though governments and commercial bodies use UASs and UAVs for a variety of applications, their scope of use is dependent on various laws and regulations enacted by numerous governments across different countries. Such regulations restrict the scope of small drone operations and hinder their mass adoption. Such regulatory hurdles are expected to prevent the mass adoption of UAVs and will adversely affect the demand for commercial drones.

This report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global commercial drone market as a part of the global aerospace and defense market within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the drone market during the forecast period.

Who are the Major Commercial Drones Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aeronavics
  • AeroVironment Inc.
  • AgEagle Aerial Systems Inc.
  • Airbus SE
  • DroneDeploy Inc.
  • EHang Holdings Ltd.
  • Holy Stone
  • Influential Drones
  • Inmarsat Global Ltd
  • Parrot Drones SAS
  • PrecisionHawk Inc
  • Skycatch Inc.
  • Skydio Inc.
  • Skydrop LLC
  • Teal Drones Inc
  • Teledyne Technologies Inc.
  • Trimble Inc.
  • Wi Fi Alliance
  • Yuneec International Co. Ltd.
  • Zipline International Inc.
  • Microsoft Corp

 

This statistical study of the commercial drones market encompasses successful business strategies deployed by the key vendors. The commercial drones market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Aeronavics - Aeronavics is a privately held company headquartered in New Zealand. It is a regional company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global drones market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
  • Aeronavics - The company offers commercial drones such as Navi and skyjib. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The commercial drones market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Commercial Drones Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the commercial drones market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Commercial Drones Market?

Commercial Drones Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

43% of the market’s growth will originate from North America during the forecast period. The US is the key market for commercial drones in North America. Market growth in this region will be faster than the growth of the market in the European regions.

The expanding use of drones in various commercial applications such as agriculture and oil and gas pipeline surveys, construction purposes, and logistics will facilitate the commercial drones market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic negatively impacted the growth of the regional commercial drone market in 2020. The lockdowns and restrictions on the movement of people and goods due to the pandemic led to the lack of an active workforce and hindered the adoption of commercial drones, which adversely affected the regional commercial drones market growth. However, from H2 2020 onward, the demand for commercial drones increased due to the rise in the demand for drones for contactless deliveries in the commercial sector. 

What are the Revenue-generating Product Segments in the Commercial Drones Market?

Commercial Drones Market Share

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The commercial drones market share growth by the software and services segment will be significant during the forecast period. This segment held the largest share in the market in 2021 and is expected to dominate during the forecast period owing to the increasing demand for software in drones. The software segment primarily comprises software solutions used in drones for real-time data analysis, along with services pertaining to upgrade, maintenance, and training, which are offered by market vendors to end-users. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial drones market size and actionable market insights on post COVID-19 impact on each segment.

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Commercial Drones Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 38.46%

Market growth 2022-2026

$ 23.63 billion

Market structure

Fragmented

YoY growth (%)

35.23

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 43%

Key consumer countries

US, China, Japan, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aeronavics, AeroVironment Inc., AgEagle Aerial Systems Inc., Airbus SE, DroneDeploy Inc., EHang Holdings Ltd., Holy Stone, Influential Drones, Inmarsat Global Ltd, Parrot Drones SAS, PrecisionHawk Inc, Skycatch Inc., Skydio Inc., Skydrop LLC, Teal Drones Inc, Teledyne Technologies Inc., Trimble Inc., Wi Fi Alliance, Yuneec International Co. Ltd., Zipline International Inc., and Microsoft Corp

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Commercial Drones Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive commercial drones market growth during the next five years
  • Precise estimation of the commercial drones market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the commercial drones industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of commercial drones market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 25: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 27: Chart on Comparison by Product
      • Exhibit 28: Data Table on Comparison by Product
    • 5.3 Software and services - Market size and forecast 2021-2026
      • Exhibit 29: Chart on Software and services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on Software and services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on Software and services - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on Software and services - Year-over-year growth 2021-2026 (%)
    • 5.4 Hardware - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Hardware - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Hardware - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Hardware - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Hardware - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 37: Market opportunity by Product ($ million)

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 38: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 39: Data Table on End-user - Market share 2021-2026 (%)
    • 6.2 Comparison by End-user
      • Exhibit 40: Chart on Comparison by End-user
      • Exhibit 41: Data Table on Comparison by End-user
    • 6.3 Infrastructure - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Infrastructure - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on Infrastructure - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on Infrastructure - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Infrastructure - Year-over-year growth 2021-2026 (%)
    • 6.4 Media and entertainment - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Media and entertainment - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Media and entertainment - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Media and entertainment - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Media and entertainment - Year-over-year growth 2021-2026 (%)
    • 6.5 Public safety - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Public safety - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Public safety - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Public safety - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Public safety - Year-over-year growth 2021-2026 (%)
    • 6.6 Agriculture - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Agriculture - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Agriculture - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Agriculture - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Agriculture - Year-over-year growth 2021-2026 (%)
    • 6.7 Others - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 62: Market opportunity by End-user ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 64: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 65: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 66: Chart on Geographic comparison
      • Exhibit 67: Data Table on Geographic comparison
    • 8.3 North America - Market size and forecast 2021-2026
      • Exhibit 68: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.4 Europe - Market size and forecast 2021-2026
      • Exhibit 72: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.5 APAC - Market size and forecast 2021-2026
      • Exhibit 76: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 8.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 8.7 South America - Market size and forecast 2021-2026
      • Exhibit 84: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 8.8 US - Market size and forecast 2021-2026
      • Exhibit 88: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.9 China - Market size and forecast 2021-2026
      • Exhibit 92: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.10 France - Market size and forecast 2021-2026
      • Exhibit 96: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 97: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 98: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 99: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 8.11 UK - Market size and forecast 2021-2026
      • Exhibit 100: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 101: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 102: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 103: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 8.12 Japan - Market size and forecast 2021-2026
      • Exhibit 104: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 105: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 106: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 107: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 8.13 Market opportunity by geography
      • Exhibit 108: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 109: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 111: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 112: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 113: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 114: Matrix on vendor position and classification
            • 11.3 Aeronavics
              • Exhibit 115: Aeronavics - Overview
              • Exhibit 116: Aeronavics - Product / Service
              • Exhibit 117: Aeronavics - Key offerings
            • 11.4 Influential Drones
              • Exhibit 118: Influential Drones - Overview
              • Exhibit 119: Influential Drones - Product / Service
              • Exhibit 120: Influential Drones - Key offerings
            • 11.5 Inmarsat Global Ltd
              • Exhibit 121: Inmarsat Global Ltd - Overview
              • Exhibit 122: Inmarsat Global Ltd - Business segments
              • Exhibit 123: Inmarsat Global Ltd - Key offerings
              • Exhibit 124: Inmarsat Global Ltd - Segment focus
            • 11.6 Microsoft Corp
              • Exhibit 125: Microsoft Corp - Overview
              • Exhibit 126: Microsoft Corp - Business segments
              • Exhibit 127: Microsoft Corp - Key news
              • Exhibit 128: Microsoft Corp - Key offerings
              • Exhibit 129: Microsoft Corp - Segment focus
            • 11.7 Parrot Drones SAS
              • Exhibit 130: Parrot Drones SAS - Overview
              • Exhibit 131: Parrot Drones SAS - Product / Service
              • Exhibit 132: Parrot Drones SAS - Key offerings
            • 11.8 PrecisionHawk Inc
              • Exhibit 133: PrecisionHawk Inc - Overview
              • Exhibit 134: PrecisionHawk Inc - Product / Service
              • Exhibit 135: PrecisionHawk Inc - Key offerings
            • 11.9 Teledyne Technologies Inc.
              • Exhibit 136: Teledyne Technologies Inc. - Overview
              • Exhibit 137: Teledyne Technologies Inc. - Business segments
              • Exhibit 138: Teledyne Technologies Inc. - Key news
              • Exhibit 139: Teledyne Technologies Inc. - Key offerings
              • Exhibit 140: Teledyne Technologies Inc. - Segment focus
            • 11.10 Trimble Inc.
              • Exhibit 141: Trimble Inc. - Overview
              • Exhibit 142: Trimble Inc. - Business segments
              • Exhibit 143: Trimble Inc. - Key offerings
              • Exhibit 144: Trimble Inc. - Segment focus
            • 11.11 Wi Fi Alliance
              • Exhibit 145: Wi Fi Alliance - Overview
              • Exhibit 146: Wi Fi Alliance - Product / Service
              • Exhibit 147: Wi Fi Alliance - Key offerings
            • 11.12 Yuneec International Co. Ltd.
              • Exhibit 148: Yuneec International Co. Ltd. - Overview
              • Exhibit 149: Yuneec International Co. Ltd. - Product / Service
              • Exhibit 150: Yuneec International Co. Ltd. - Key offerings

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 151: Inclusions checklist
                • Exhibit 152: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 153: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 154: Research methodology
                • Exhibit 155: Validation techniques employed for market sizing
                • Exhibit 156: Information sources
              • 12.5 List of abbreviations
                • Exhibit 157: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Commercial Drones market growth will increase by $23638.17 million during 2022-2026.
              The commercial drones market is expected to grow at a CAGR of 38.46% during 2022-2026.
              Technavio has segmented the commercial drones market by product (Software and services and Hardware) ,end-user (Infrastructure, Agriculture, Public safety, Energy, and Others) , and geographic (North America, Europe, APAC, Middle East and Africa, and South America).
              Aeronavics, AeroVironment Inc., AgEagle Aerial Systems Inc., Airbus SE, DroneDeploy Inc., EHang Holdings Ltd., Holy Stone, Influential Drones, Inmarsat Global Ltd, Parrot Drones SAS, PrecisionHawk Inc, Skycatch Inc., Skydio Inc., Skydrop LLC, Teal Drones Inc, Teledyne Technologies Inc., Trimble Inc., Wi Fi Alliance, Yuneec International Co. Ltd., Zipline International Inc., Microsoft Corp are a few of the key vendors in the commercial drones market.
              North America will register the highest growth rate of 43.29% among the other regions. Therefore, the commercial drones market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the commercial drones market growth are:
              • Rise in applications of drones
              • New developments and launches of commercial drones
              The commercial drones market vendors should focus on grabbing business opportunities from the software and services segment as it accounted for the largest market share in the base year.
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