Global Commercial Drone Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Fixed-wing, Hybrid, Rotary Blade), By Application (Surveillance & Monitoring, Inspection & Maintenance, Mapping & Surveying, Filming & Photography, Delivery and Logistics, Precision Agriculture, Others), By Verticals (Real Estate & Construction, Agriculture, Energy, Media & Entertainment, Security & Law Enforcement, Delivery & Logistics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032Industry: Aerospace & Defense
Global Commercial Drone Market Insights Forecasts to 2032
- The Global Commercial Drone Market Size was valued at USD 27.6 Billion in 2022.
- The Market is growing at a CAGR of 38.17% from 2022 to 2032.
- The Worldwide Commercial Drone Market Size is expected to reach USD 699.8 Billion by 2032.
- Asia Pacific is expected to Grow the fastest during the forecast period.
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The Global Commercial Drone Market Size is expected to reach USD 699.8 Billion by 2032, at a CAGR of 38.17% during the forecast period 2022 to 2032. The introduction of the 5G delivery framework, as well as the incorporation of cloud computing technologies into the drone manufacturing process, present significant potential opportunities for the market. Furthermore, technological improvements in the commercial drone segment have reshaped the market. They enable high-speed data capture, processing, and transfer for their clients, allowing them to make real-time, data-driven decisions.
Unmanned aerial vehicles, or drones, are becoming increasingly popular among individuals and commercial enterprises worldwide. They are employed in security forces for monitoring, farming for agricultural servicing, observing illegal hunting for wildlife in forests, and acquiring specialty cinematic and sports-related footage. Furthermore, several nations encourage or promote the delivery of drones in order to maintain the business environment booming. Drones are able to serve a vital part in maintaining economies afloat by carrying a variety of things on demand, such as medical equipment, food, packages, and other commodities. In India, for example, Marut Drones launched a whole line of drones to combat the coronavirus issue, which proved to be 80 times faster than traditional delivery techniques. Drones have also been utilized to distribute COVID-related commodities in Canada, such as hygiene and test kits and swab testing.
The major players in the commercial drone market include Aeronavics Ltd., AeroVironment Inc., Autel Robotics, DJI, Draganfly Innovations Inc., EHANG, Intel Corporation, Parrot Drones SAS, PrecisionHawk Inc., and YUNEEC. To gain a competitive advantage, these participants are relying on techniques such as mergers and acquisitions (M&A). Furthermore, drone suppliers and manufacturers all over the world are developing custom-made solutions to successfully handle their customers' business demands.
For instance, on May 2023, A2Z Drone Delivery, Inc, a manufacturer of commercial drone delivery solutions, has unveiled its new flagship delivery drone, the RDSX Pelican. The new Pelican uses a hybrid VTOL airframe with no control surfaces to combine the dependability and flight stability of a multirotor platform with the enhanced range of a fixed-wing craft. The Pelican is designed to meet the FAA Part 107 take-off weight limitation of 55 pounds and can carry payloads of up to 5 kilograms on journeys up to 25 miles roundtrip.
Unmanned aerial vehicles (UAVs), commonly referred to as commercial drones, are aircraft used for commercial and industrial operations. These types of aircraft are highly functional and well-equipped to undertake difficult missions. Drones are operated remotely from a stationary location by skilled and professional operators. Firefighters are also increasingly using commercial drones. Drones have shown to be quite useful in tracking and controlling wildfires. Additionally, energy-related companies routinely use Drones to monitor electricity cables, pipelines, wind turbines, and solar energy systems. Companies can remotely monitor the health of their machinery without endangering their employees.
Global Commercial Drone Market Report Coverage
|Market Size in 2022:||USD 27.6 Billion|
|Forecast Period 2022-2032 CAGR:||38.17%|
|2032 Value Projection:||USD 699.8 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Product Type, By Application, By Verticals, By Region, and COVID-19 Impact Analysis|
|Companies Covered:||Autel Robotics, DJI, EHANG, Intel Corporation, YUNEEC, Parrot Drones SAS, PrecisionHawk Inc., Aeronavics Ltd., AeroVironment Inc., Draganfly Innovations Inc., BAE Systems, Airobotics Ltd., DroneDeploy, 3D Robotics, Prime Air, Teal Drones, Skydio, Inc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The major drivers driving market revenue growth over the forecast period are increasing technological advances in commercial drones and increased demand for commercial drones in the agriculture, construction, and logistics industries. Additionally, technological breakthroughs such as Machine Learning (MI) and Artificial Intelligence (AI) have the potential to considerably grow the commercial drone market. When utilized alongside other technologies like as LiDAR and IoT, a drone can also solve the need for rural distribution, operation, and maintenance of public utilities. The incorporation of modern technologies will thereby drive the global adoption of the commercial drone market.
Furthermore, the market is expected to expand as a result of the increasing use of small unmanned aerial vehicles for a variety of commercial purposes, including precision farming, law enforcement, wildlife monitoring, aerial imagery, cinematography, recreational activities, emergency management, research and development, transportation and logistical services, humanitarian and rescue operations, and building construction. Many in the engineering field and other businesses use mini-drones extensively for a variety of commercial purposes. Drones are used for a variety of business purposes, including detailed project regular consumption, inspection, and oil pipeline and transmission cable maintenance. Furthermore, rising worldwide demand for online delivery services for food will drive the commercial drone market throughout the projected time frame. As a result, ongoing technological advancement and the launch of cost-effective devices are predicted to drive commercial drone market growth over the forecast period.
Drones offer numerous solutions to developing and enduring issues across industry sectors. However, there are many concerns about the possible harmful impact of the commercial drone market's rise. Drones are becoming a more common target for cyber-attacks as they become more widely used in civilian and military applications. Additionally, concerns have been expressed regarding drones creating or aggravating disasters and emergency situations since they occupy airspace and can reach heights comparable to those of an aircraft. Drones can be difficult to track on air traffic radars, posing additional challenges for plane and helicopter pilots to maneuver while in flight. Furthermore, as the number of drones in use increases, these drones run on limited battery power at a time, have propellers that spin swiftly to produce lift, and have the ability to fall from tremendous heights, posing a significant risk to people, property, and the environment.
By Verticals Insights
The delivery & logistics segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of verticals, the global commercial drone market is segmented into real estate & construction, agriculture, energy, media & entertainment, security & law enforcement, delivery & logistics, and others. Among these, the delivery & logistics segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Drones are likely to transform the delivery and logistics sectors internationally as the e-commerce sector grows. Drones are increasingly being employed in e-commerce warehouses for product storage as well as distribution due to the growing demand for rapid delivery of items. Storage facilities around the globe are investing heavily to increase the grade of automation. In warehouses, barcode scanning is a critical application for drones. Furthermore, delivery drones are primarily unmanned aerial vehicles (UAVs) that convey meals, packages, or commodities to the doorstep. These drones can deliver 25 kilograms of items to the doorstep without requiring you to leave your residence. Amazon, Walmart, Google, FedEx, UPS, and a number of other major corporations are all testing various types of delivery drones. As a result, the segment's growth is predicted to accelerate.
By Application Insights
The precision agriculture segment is witnessing significant CAGR growth over the forecast period.
On the basis of application, the global commercial drone market is segmented into surveillance & monitoring, inspection & maintenance, mapping & surveying, filming & photography, delivery and logistics, precision agriculture, and others. Among these, the precision agriculture segment is witnessing significant CAGR growth over the forecast period. Drones have also shown to be advantageous to the agriculture business, providing farmers with a variety of options for optimizing their farms to increase productivity while decreasing physical exertion. As a result, farmers all over the world are lowering their agricultural costs and increasing their yields. Farmers and agricultural personnel can use drones for gathering farm data, automate monotonous jobs, and enhance productivity. Drones also assist farmers with a variety of tasks, including field monitoring and assessment, as well as agricultural plantation planning to assess crop health and development.
By Product Type Insights
The rotary blade segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global commercial drone market is segmented into the fixed-wing, hybrid, and rotary blades. Among these, the rotary blade segment is dominating the market with the largest revenue share of 67.3% over the forecast period. The capability of rotary blade drones to stay afloat and conduct agile maneuvers whilst keeping a visual on a specific target for extended periods of time is expected to drive up demand for inspection activities. These drones are frequently seen as a viable alternative for a variety of commercial purposes such as monitoring, cinematography, photography, and tracking. Furthermore, they are easier to operate than hybrid and fixed-wing equivalents.
North America dominates the market with the largest market share over the forecast period.
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North America is dominating the market with more than 32.7% market share over the forecast period. This domination can be ascribed to advancements in drone technology, favorable government activities, and increased demand from businesses in a variety of industries. The United States proved to be an especially powerful source of commercial expansion for the commercial drone market. As a result, developments in the United States may foreshadow how commercial drone usage and investment will progress in other markets.
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. The growth is the result of increased commercial drone acceptance and investment by major corporations globally, particularly in China, Japan, and India. A number of governments are constantly drafting new commercial drone legislation. Furthermore, some emerging businesses are conducting tests on new commercial drone applications with the goal of improving drone safety.
The Europe market is expected to register a substantial CAGR growth rate during the forecast period. Among the main demand drivers is a strong emphasis on creative technology development through strategic collaborations. The availability of live-streaming video capabilities, as well as additional testing with conceivable applications for drones, will encourage the deployment of the commercial drone market in the region.
List of Key Market Players
- Autel Robotics
- Intel Corporation
- Parrot Drones SAS
- PrecisionHawk Inc.
- Aeronavics Ltd.
- AeroVironment Inc.
- Draganfly Innovations Inc.
- BAE Systems
- Airobotics Ltd.
- 3D Robotics
- Prime Air
- Teal Drones
- Skydio, Inc.
Key Market Developments
- On January 2023, Draganfly Inc. announced that Remote Sensing Instruments ("RSI"), a long-standing Geospatial Technology company in India specializing in Remote Sensing and Geographic Information System ("GIS"), has entered into a strategic agreement with Draganfly for the development, distribution, and sales of Draganfly products in India. The production of Draganfly drones in India under the AatmaNirbhar Bharat (Made in India) initiative is a key component of this arrangement.
- On May 2023, Tinamu, the Swiss drone automation technology supplier, and Parrot, the leading European drone manufacturer, have announced a collaboration to integrate the Parrot ANAFI Ai drone into Tinamu's indoor-monitoring systems. Tinamu provides automated warehouse inventory management services to worldwide mining, commodities trading, and construction organizations.
- On November 2022, StructionSite, a prominent provider of ground reality capture for the construction sector, has been acquired by DroneDeploy, the leading aerial reality capture platform. The acquisition has advanced the implementation of DroneDeploy's vision of the future of reality capture being unified, automated, and intelligent.
- On August 2022, Draganfly Inc. delivered the next-generation Medical Response Drones to Coldchain Delivery Systems, LLC in preparation for the deployment of highly specialized next-generation Medical Response Drones to Revived Soldiers Ukraine. The Draganfly team produced unique hardware and software improvements for this current shipment of Medical Response Drones. The Medical Response Drone from Draganfly can carry up to 35 pounds.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Commercial Drone Market based on the below-mentioned segments:
Commercial Drone Market, Verticals Analysis
- Real Estate & Construction
- Media & Entertainment
- Security & Law Enforcement
- Delivery & Logistics
Commercial Drone Market, Application Analysis
- Surveillance & Monitoring
- Inspection & Maintenance
- Mapping & Surveying
- Filming & Photography
- Delivery and Logistics
- Precision Agriculture
Commercial Drone Market, Product Type Analysis
- Fixed-wing, Hybrid
- Rotary Blade
Commercial Drone Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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