What is the Size of Global Commercial Drones Industry?
Global Commercial Drones market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Commercial Drones Market is largely driven by the advancement of remote sensing and surveillance technologies, such as automatic dependent surveillance-broadcast (ADS-B). Drones usually termed unmanned aerial vehicles (UAVs) or unmanned aircraft systems, is a gliding humanoid that can be controlled manually or autonomously by software-controlled flight plans in their embedded systems, which interlink with inbuilt sensors and a navigation system (GPS). They are used in several sectors, including inspections, monitoring and management, surveying and aerial mapping, construction, photography, and videography. Commercial use of drones mainly provides, many perks to operators, such as increased work efficiency and productivity, reduce workload and production cost, and improve accuracy and precision.
Higher costs associated with drones, and the lack of farmers’ awareness regarding farming technologies are the challenges to the growth of the commercial drone market. Furthermore, the COVID-19 pandemic has initially disrupted the supply side of commercial drones, but demand has increased significantly later on due to labor shortages across countries.
Global Commercial Drones Market by type
The Global Commercial Drones market is segmented by Type into Fixed Wing, Rotary and Hybrid. The Rotary segment held the largest market share of the Global Commercial Drones Market in 2022. The growth is mainly attributed to the fact that rotary drones are highly adopted and most commonly used across industries due to a number of benefits, including greater versatility, which allows them to fly in areas other drones cannot, stay in a stationary position, and provide vertical take-off and landing (VTOL) functionality. They also have increased payload capacity, allowing them to carry far more payload than fixed-wing, and hybrid drones.
Global Commercial Drones Market By Mode Of Operations
The Global Commercial Drones Market is segmented by Mode of Operations into Remotely Operated, Semi-Autonomous and Autonomous. The Remotely Operated segment held the largest market share of the Global Commercial Drones Market in 2022.
The growth is mainly attributed to its popularity and frequent use, as most individuals are not keen to adopt high-tech mechanisms. However, as people are becoming aware of advanced technologies, they are opting for hi-tech drones, resulting in increased market growth for autonomous and semi-autonomous drones.
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Global Commercial Drones Market by application
The Global Commercial Drones market is segmented by Application into Mapping & Surveying, Precision Agriculture, Filming & Photography, Inspection & Maintenance and Others. The Filming & Photography segment held the largest market share of the Global Commercial Drones Market in 2022, owing to the advent of digitalization in photography and the utilization of new technology.
Aerial photography was previously done using hot-air balloons, airplanes, kites, helicopters, and more. Nowadays, drones are increasingly popular for aerial photography as they are simpler to use and much more cost-effective than renting a helicopter and provide high-quality images and videos from expansive angles.
Global Commercial Drones Market by geography
The Global Commercial Drones market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounted for the largest market share in the global Commercial Drones market in 2022. Increased government expenditure to support the expansion of UAVs/drones is fueling the region's market growth.
For instance, according to Federal Aviation Administration (FAA), a U.S. government agency, 865,505 drones were registered in the United States in May 2022, with 314,689 of them being commercial drones. In July 2020, the United States Department of Defense (DoD) awarded five companies contracts totaling US$ 13.4 million to support the domestic small unmanned aerial system (sUAS) industrial base.
Market Taxonomy
By Type
- Fixed Wing
- Rotary
- Hybrid
By Mode of Operation
- Remotely Operated
- Semi-Autonomous
- Autonomous
By Application
- Mapping & Surveying
- Precision Agriculture
- Filming & Photography
- Inspection & Maintenance
- Others
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By Geography
North America
- USA
- Canada
- Mexico
Europe
- France
- Italy
- Germany
- Spain
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Australia Rest of Asia Pacific
LAMEA
- Latin America
- Middle East
- Africa
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