Global Commercial Drones Market is expected to reach ~US$ 30 billion in 2028: Ken Research

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Competition Scenario in Global Commercial Drones Market

The Global Commercial Drones market is competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche tech offerings, such as autonomous or advanced navigation systems, increased range, heavy payload, image stitching, red, green, and blue (RGB) color model, and more.

Country-Niche players constitute about ~45% of the market, while regional players hold a share of ~35%. Some of the major players in the market include AeroVironment Inc., SZ DJI Technology Co., Ltd., Parrot SA, Sense Fly (AgEagle Aerial Sys), Insitu Inc., Yuneec International CO. Ltd, Autel Robotics, Delair, Ehang Holdings Limited, Aerialtronics, and among others.

What is the Expected Future Outlook for the Overall Global Commercial Drones Market Across the globe?

The Global Commercial Drones market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Commercial Drones market is driven by the advancement of remote sensing and surveillance technologies, such as automatic dependent surveillance-broadcast (ADS-B). However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

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With the increasing innovation and emergence of new products, the Global Commercial Drones market is changing rapidly. For instance, In September 2022, AeroVironment, a U.S.-based vehicle manufacturer, unveil the new unmanned aircraft system (UAS) named ‘VAPOR Helicopter’, which supports increased endurance and expanded payload capacity to meet evolving needs of defense, commercial, and industrial customers.

In September 2022, Autel Robotics, a Chinese drone manufacturer, announced the launch of new drones and supporting products, including the new ‘Autel EVO II V3 Series’, a new Live Deck video streaming accessory, and two new smart controllers to support the updated drones.

The global Commercial Drones market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the expansion of commercial drones is the rising adoption of advanced technologies, including artificial intelligence (AI), and machine learning (ML) across industries and increased application areas, including precision agriculture, aerial imaging, cargo management, traffic monitoring, and others. Though the market is highly competitive with ~100 participants, few global players control the dominant share and regional players also hold a significant share.

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

For more insights on the market intelligence, refer to below link:-

Global Commercial Drones Market

3 Key Insights on US$ 30 Bn Opportunity in the Global Commercial Drones Food Market: Ken Research

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Driven by the advancement of remote sensing and surveillance technologies, and favorable government guidelines regarding the utilization of drones across industries, the Global Commercial Drones Market is forecasted to Cross US$ 30 Bn by 2028 says Ken Research Study.

Drones are basically aircraft that can be controlled remotely or fly autonomously by utilizing software-controlled flight information in their embedded systems. Commercial drones are basically used for specific tasks, including cargo delivery, inspection, mapping, and more. Most commercial drones include an infrared camera, which provides useful thermal imaging for location search, surveying, and rescue services. Most commercial drones are equipped with the necessary payloads and safety equipment, such as extra lighting and parachute systems.

Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

1. Commercial Drones Market Has Seen Significant Market Growth after a Rise in Labour Shortage in 2020.

The Global Commercial Drones Market is expected to witness stable growth during the forecast period, owing to the development of remote sensing technologies, as well as the increasing labor shortage caused by factors, such as the aging population, low wages, and immigration disruption in the COVID-19 pandemic. The global commercial drone market was valued at ~US$ 5 billion in 2017, it is estimated to be ~US$ 12 billion in 2022 and is expected to reach a market size of ~US$ 30 billion by 2028 growing with a CAGR of ~15% during the forecast period (2022-2028).

North America dominated the Global Commercial Drones Market in 2021, primarily due to the increased utilization of high-tech equipment across industries, and rising government expenditure to support the expansion of UAVs/drones is fueling the region's market growth.

2.  Advancements in Remote Sensing and Surveillance Technologies Acts as a Major Growth Driver for the Global Commercial Drones Market

Continuous advances in component, sensing technology, and size have accelerated the growth of automation and monitoring systems, including UAVs/drones, which utilize a number of tools and methods to forecast data and ensure higher productivity, reliability, increased performance, and reduced operating costs. Furthermore, the steadily increasing focus on improving field efficiency and productivity has increased the demand for agricultural UAVs/drones to grow more and better products by making better use of resources such as soil, water, nutrient solution, chemicals, and so on. In addition, the advancement in sensing technologies helps in ensuring that the crop and soil receive appropriate care. So, farmers will then be able to plan their actions or activities accordingly. Similarly, they help support the construction industry by providing real-time construction data viewing, accurate imaging and infrastructure inspection, reducing personnel risks and accidents, and cost-effective photography and videography.

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3. Higher Cost Associated with Drones, And Individuals’ Disinclination To Adapt Advanced Technologies Around Them Are Expected To Stifle Market Growth

The high costs associated with UAVs/drones are confining the market growth, as they are mainly embedded with expensive autonomous functionalities that operate using AI-powered navigation and operational software that raise the finished cost of a product. Furthermore, the continued use of traditional techniques, including truck and manual processes for monitoring, surveying, mining, crop spraying, equipment tracking, and more indicates that the portfolio of drones has yet to capture the potential customer base.

For more information on the research report, refer to the below link:

Global Commercial Drones Market