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The commercial drones market size is forecast to increase by USD 44.85 billion between 2022 and 2027, accelerating at a CAGR of 38.97%. In 2017, the US held the largest market share, projecting an annual revenue of USD 0.87 billion. The market size, historical market size (2017-2021), and forecasts are provided on the basis of value (USD billion) for all the above segments.
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The rising applications of drones are a key factor driving the market growth. Historically, drones were primarily utilized by the defense and military sectors. However, technological advancements have diversified their applications, including agriculture, construction, mapping, logistics, and surveillance. The logistics industry, in particular, is increasingly adopting drones for various applications, with companies like Zipline partnering with Walmart for commercial drone deliveries in the US. Unlike traditional rotorcraft, Zipline employs fixed-wing drones, offering larger payload capacity and longer range, albeit with more complex operations.
Drones enable faster deliveries compared to road transport, especially in areas affected by traffic congestion and limited maneuverability. With companies like DHL and Amazon planning drone delivery services, the global demand is poised for significant growth. The ongoing development in drone technology is expected to drive the global market in the forecast period.
Software and Service is the Leading Segment to Dominate the Market
This software and services segment holds the largest commercial drone market is expected to dominate the market during the forecast period. The growth of this segment is attributed to factors such as the increasing demand for software in drones. Software solutions help companies validate and analyze drone data. The high cost associated with manufacturing drones, along with the competitive advantages and economic scales of established vendors such as DJI and Parrot, have forced many other vendors to stop manufacturing drones and shift to offering technical platforms and software solutions that are compatible with the drones available in the market. 3DR offers various drone software that can be used by end-users in the construction, mining, engineering, and other sectors to enable companies to capture data quickly and use it in estimating, designing, and tracking various processes. Such factors will increase segment growth during the forecast period.
Market - Revenue Share by XXX Segment, 2017-2027
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North America Holds a Prominent Position in the Market
North America is estimated to contribute 44% to the growth of the global market during the forecast period.In North America, the US DoD and the National Aeronautics and Space Administration (NASA) are investing strongly in the R&D of advanced electronics and sensors for military UAVs, which will replace the existing avionics systems. Moreover, the government of the nation is increasingly focusing on empowering the defense forces of the nation. Drones are widely used by the DoD for surveillance, security, and spying. For instance, in May 2021, the US Army awarded a contract of USD 15.4 million to FLIR for its FLIR Black Hornet 3 personal reconnaissance systems. Black Hornet 3 is a palm-sized drone used for surveillance, spying, and guiding small military units and platoons. The success of drone strikes has increased the reliability of governing bodies over drones, which is likely to propel their demand and subsequently fuel the growth of the regional market during the forecast period
Market Size, By Region, Global, 2017-2027
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The Market is fragmented in nature. Some significant players includeAeronavics and Autel Robotics Co. Ltd
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Anadrone Systems Pvt. Ltd., Arc Sky LLC, Autel Robotics Co. Ltd., DELAIR SAS, Denel SOC Ltd., Draganfly Inc., Field Group AS, Geotech Environmental Equipment Inc., Guangzhou EHang Intelligent Technology Co. Ltd , iFlight Innovation Technology Ltd., Intel Corp., Parrot Drones SAS, Red Cat Holdings Inc., Skydio Inc., Teledyne Technologies Inc., The Boeing Co., and Yuneec International Co. Ltd.
The Commercial Drones Market is witnessing rapid growth, driven by diverse applications such as aerial photography, video recording, and surveying. Industries like construction, energy, and telecommunications utilize drones for monitoring, inspection, and surveying, enhancing efficiency and safety while reducing labor and time. However, challenges such as technological constraints, endurance limitations, and regulatory hurdles persist. Companies like Percepto and Air Mobile offer innovative "drone-in-a-box" solutions to address these challenges. Real-time data and aerial shots provide valuable insights for engineers, surveyors, and site managers, facilitating better decision-making in high-risk areas and dynamic environments.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2021.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 38.97% |
Market growth 2023-2027 |
USD 44.85 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
35.0 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aeronavics, AeroTargets International LLC, AeroVironment Inc., Anadrone Systems Pvt. Ltd., Arc Sky LLC, Autel Robotics Co. Ltd., DELAIR SAS, Denel SOC Ltd., Draganfly Inc., Field Group AS, Geotech Environmental Equipment Inc., Guangzhou EHang Intelligent Technology Co. Ltd , iFlight Innovation Technology Ltd., Intel Corp., Parrot Drones SAS, Red Cat Holdings Inc., Skydio Inc., Teledyne Technologies Inc., The Boeing Co., and Yuneec International Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market growth and trends report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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