Major players in the commercial drones market are DJI, Parrot SA, Aerovironment, Precision Hawk, and Draganfly.
The Global
Commercial Drones Market is expected to decline from USD 4.14 billion
in 2019 to USD 3.64 billion in 2020 at a compound annual growth rate (CAGR) of
-12.0%. The decline is mainly due to economic slowdown across countries owing
to the COVID-19 outbreak and the measures to contain it. The market is then
expected to recover and reach USD 6.15 billion in 2023 at CAGR of 19.09%.
The commercial drones market consists of sales of commercial drones. These multi-functional flying devices are used by entities to collect and consolidate data, conduct safety and security checks and inspection. This market mainly comprises of fixed wing drones, rotary blade drones and hybrid wing drones supported by a variety of services and used for a variety of applications.
Asia Pacific was the largest region
in the commercial drones market in 2019, followed by North America. This region
is expected to remain the largest during the next five years. The commercial
drones market in Asia Pacific is forecasted to register the highest CAGR during
2019-2023.
Drone leasing is a better offer for
most companies seeking to save on drone-related investments. Many entry-level
companies that do not have sufficient financial backing can aid themselves with
leasing drone-related solutions rather than purchasing them at full price. For
example, Kespry and LiDARUSA are companies that focus on leasing commercial
drones to other companies.
The commercial drones market
covered in this report is segmented by type into fixed wing drones, rotary blade
drones, hybrid drones. It is also segmented by application into agriculture and
environment, media and entertainment, energy, government, construction &
archaeology, others and by technology into remotely operated, semi-autonomous,
autonomous.
Increasing supply chain and
manufacturing disruptions are limiting the sales of drones owing to the COVID19
outbreak. Drones manufacturers are struggling to meet production schedules
across the world owing to the disruptions caused by coronavirus lockdowns in
Chinese manufacturing systems. According to Drone Life's article posted in
March 2020, Skydio, a USA-based company engaged in assembling drones, is
suffering from supply chain disruptions caused by the slowdown in the
manufacturing of the parts. Moreover, many companies are experiencing slowdowns
of shutdowns in manufacturing activities due to COVID19 lockdowns, which is
impacting the availability of subcomponents to the assembling companies in a
snowball effect. Therefore, the disruptions in the supply chain and
manufacturing disruption are expected to restrict the growth of the commercial
drone's market during 2020.
In January 2019, FLIR systems,
Inc., a US-based company which designs, manufactures, and markets thermal
imaging and infrared camera systems, acquired Aeryon Labs for USD 200 million.
With this acquisition, FLIR Systems will integrate their current offerings with
drone technology to provide multiple solutions to many different issues. Aeryon
Labs, a leading developer of high-performance unmanned aerial systems (UAS) for
the global military, public safety and critical infrastructure markets.
Commercial drones are being
considered by companies that have last-mile delivery as a main business
process. The drones will help reduce cost per delivery and delivery time, thus
increasing profits. Therefore, increasing the growth of the commercial drones
market. According to a McKinsey report, if companies save 40% of their delivery
costs using drones, then they will enjoy a 15-20% increase in their profit
margin and a 15-20% decrease in their product or service prices. For example,
in March 2019, Zomato, an Indian food delivery company, has conducted
experiments to enable drone delivery in their value chain.
For More Information, Click on the Link Below:-
Global
Commercial Drones Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
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