IMARC Group, a leading market research company, has recently releases report titled “Commercial Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” offers a comprehensive analysis of the industry, which comprises insights on the commercial drone market forecast. The global market size reached US$ 26.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 148.1 Billion by 2032, exhibiting a growth rate (CAGR) of 20.47% during 2024-2032.
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Factors Affecting the Growth of the Commercial Drones Industry:
- Demand in Key Sectors:
The growing demand for commercial drones in key sectors, such as agriculture, real estate, construction, and energy, represents one of the crucial factors impelling the market growth. The rising employment of commercial drones in the agriculture sector for crop monitoring, spraying, and yield prediction is supporting the market growth. In addition, commercial drones are used in surveys and site inspections of different properties. The energy sector utilizes drones for inspecting infrastructure like wind turbines and pipelines.
- Environmental Monitoring:
The rising emphasis on sustainability and environmental preservation represents one of the major factors impelling the market growth. The increasing employment of drones for environmental monitoring, wildlife conservation, and managing natural resources is supporting the market growth. They also assist in monitoring deforestation, wildlife populations, or illegal activities like poaching and illegal logging. These drones are invaluable in the context of climate change for assessing the impact of environmental policies, analyzing carbon stock in forests, and monitoring changes in ecosystems. The capability to gather critical environmental data with minimal ecological disturbance underscores the growing importance of drones in sustainable development and environmental protection efforts.
- Technological Advancements:
Technological advancements, such as improvements in battery life, payload capacity, and flight stability, enabling drones to fly longer, carry more, and operate in more challenging conditions, are propelling the market growth. Additionally, enhanced imaging technologies, like high-resolution cameras and thermal imaging, are expanding the range of applications, from precision agriculture to infrastructure inspection. Furthermore, the growing developments in artificial intelligence (AI) and machine learning (ML) are enabling drones to perform complex tasks autonomously, increasing efficiency and reducing the need for skilled operators.
Leading Companies Operating in the Global Commercial Drone Industry:
- Aeronavics Ltd.
- AeroVironment Inc.
- Autel Robotics
- Delair
- Insitu Inc. (The Boeing Company)
- Leptron Unmanned Aircraft Systems Inc.
- PrecisionHawk Inc.
- SenseFly (AgEagle Aerial Sys)
- Skydio Inc
- SZ DJI Technology Co. Ltd. (iFlight Technology Company Limited)
- Yuneec International
Commercial Drones Market Report Segmentation:
By Weight:
- <2 Kg
- 2 Kg-25 Kg
- 25 Kg-150 Kg
<2 Kg represents the largest segment due to the increasing demand for lightweight drones that are versatile and can be used for various purposes.
By System:
- Hardware
- Airframe
- Propulsion System
- Payloads
- Others
- Software
Hardware accounts for the maximum share as it includes the essential components and technology required for drone operations, making it a fundamental part of the market.
By Product:
- Fixed Wing
- Rotary Blade
- Hybrid
Rotary blade exhibits a clear dominance in the market due to its agility, ease of maneuverability, and suitability for applications, ranging from aerial photography to surveillance.
By Mode of Operation:
- Remotely Operated
- Semi-Autonomous
- Autonomous
Remotely operated drones hold the biggest share the of the market due to their widespread use in commercial applications, offering precise control and versatility.
By Application:
- Filming and Photography
- Inspection and Maintenance
- Mapping and Surveying
- Precision Agriculture
- Surveillance and Monitoring
- Others
Filming and photography dominate the market as drones are extensively utilized for capturing stunning aerial shots and videos in the media and entertainment industry.
By End Use:
- Agriculture
- Delivery and Logistics
- Energy
- Media and Entertainment
- Real Estate and Construction
- Security and Law Enforcement
- Others
Media and entertainment hold the biggest share attributed to the extensive use of drones for capturing captivating aerial footage for film and entertainment purposes.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America dominates the market due to its advanced technological infrastructure, increasing favorable regulations, and a robust ecosystem of drone manufacturers and service providers.
Global Commercial Drones Market Trends:
The growing integration of drones with other emerging technologies like the internet of things (IoT), cloud computing, and 5G is positively influencing the market. This integration enhances the capabilities of drones, allowing for real-time data transmission, improved connectivity, and better coordination with other automated systems. Furthermore, drones integrated with IoT can provide real-time monitoring and data collection across large areas, which is valuable in smart city applications, environmental monitoring, and large-scale agricultural operations. This symbiotic relationship between drones and other technologies is fostering new applications and contributing to the growth of the market.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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