Market Research Report
Commercial Drone Market Size, Share & Trends Analysis Report By Product (Fixed-wing, Rotary Blade, Hybrid), By Application, By End-use, By Region, And Segment Forecasts, 2021 - 2028
|Published by||Grand View Research, Inc.||Product code||1003405|
|Published||Content info||140 Pages
Delivery time: 2-10 business days
|Commercial Drone Market Size, Share & Trends Analysis Report By Product (Fixed-wing, Rotary Blade, Hybrid), By Application, By End-use, By Region, And Segment Forecasts, 2021 - 2028|
|Published: April 26, 2021||Content info: 140 Pages||
Commercial Drone Market Growth & Trends
The global commercial drone market size is anticipated to reach USD 501.4 billion by 2028, registering a CAGR of 57.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The rising demand for commercial drones can be attributed to the growing application base across a wide range of end-use verticals, including real estate and construction, media and entertainment, and agriculture. Majority of the end-use verticals that involve a high proportion of operational processes are expected to experience substantial productivity gains from drone usage owing to the automation of business operations.
UAVs or drones are reinventing old businesses and even creating new prospects. In 2016, the Federal Aviation Administration (FAA) released regulations related to the usage of commercial drones that clarified the legal landscape for businesses and workers. Since then, the industrial applications of commercial drones have significantly increased. Drones are expected to emerge as versatile tools, which can transform the existing business operations and help to establish new startups.
The prominent industry players are involved in the manufacturing as well as supply of accessories required for drone operation. Additionally, they provide applications for Android/iOS-based smartphones and tablets to efficiently operate and maneuver the drones during flight. These manufacturers offer drones for various verticals, such as security & law enforcement, energy, agricultural, retail, media, and entertainment.
Commercial Drone Market Report Highlights
The ability of drones to perform increasingly complex tasks is likely to improve with advancements in technologies such as collision avoidance and autonomy
Commercial drones are anticipated to become a potential alternative for the logistics activities of companies, helping them increase their competitive advantage
Drones are widely being used to inspect power plants, oil and gas, and other industrial sites to ensure proper operations and safeguard these sites
Newer drone-supportive regulations are expected to lower the entry barriers for startups providing commercial operations of drones
The advent of drones is set to transform the media industry as it allows the journalism sector to cover news in areas where human entry is prohibited