Commercial Drone Market Forecasts to 2028 - Global Analysis By Product Type (Fixed-wing, Rotary Blade, Hybrid), System (Hardware, Software), Weight (<2Kg, 2Kg - 25Kg, 25Kg - 150Kg), Technology, Application, End User, and By Geography

According to Stratistics MRC, the Global Commercial Drone Market is accounted for $8.30 billion in 2022 and is expected to reach $35.81 billion by 2028 growing at a CAGR of 27.6% during the forecast period. Aircrafts that have the capacity to fly autonomously with the assistance of an embedded program or which can be remotely operated from ground by a pilot are called as drones. Commercial drones are unmanned aerial aircrafts that are designed for commercial applications such as risk mitigation, resource planning, research & excavation, urban planning, engineering, farming management, tourism, aerial imaging, LiDAR applications, cargo management, weather monitoring, traffic control, green mapping, and others. These applications are used by several sectors such as agriculture and environment, media & entertainment, energy, government, and others as business solutions.

Drone industry revenue in the commercial sector is forecast to grow worldwide by a compound annual growth rate of 9.4 percent from 2021 to 2026, reaching a value of 43´1.4 billion U.S. dollars, according to DRONEII. The biggest drone markets today are in China and Japan. By 2023, the projected market size of the global drone delivery market will amount to more than 1.6 billion U.S. dollars. By that time, the estimated market size in Asia-Pacific will reach 654 million U.S. dollars, thus, holding 39 percent of the global market.

Market Dynamics:

Driver:

Development of remote sensing technologies

The global commercial drone market expected to drive growth during the forecast period, as drones are well-suited for quasi-static positioning of advanced sensors in 3D space with high accuracy. Even in windy conditions, commercial drones enable empower exact flight control and activities in cluttered environments due to their mobility and capacity to fly at any low speed. There is a developing interest in deploying drones for forest monitoring, photogrammetric survey, and infrastructure inspection.

Restraint:

Lack of uniform air traffic management

The global commercial drone market expected to hamper growth during the forecast period. Drones are generally used for commercial, military & defense, and civil applications around the world. The industry and end-users have been seeing extreme limitations on drone flying in various nations for the past few years. A few countries are permitting commercial flights for small drones Beyond Visual Line of Sight (BVLOS), and some have a mandatory license for the flights

Opportunity:

Expanded Commercial Use

The global commercial drone market expected to drive growth during the forecast period, due to expanded commercial use will be a significant opportunity in the commercial drone market. Drones for future structures are turning out to be progressively increasing popularity in the construction sector. Building managers will be able to meet project objectives more efficiently and quickly if sophisticated photography is used to scan construction sites and drones are utilized to follow activities throughout the construction lifecycle. Increasing popularity of commercial and business models leveraging drone technology will give the drone industry with precisely the necessary push, permitting stakeholders to lift their game in operational efficiency.

Threat:

Skilled trained pilots

The global commercial drone market expected to hinder growth during the forecast period. The difficulties faced by the drone industry are lack skilled trained pilots, which is liable for safe flight operations in controlled airspaces. The presence of uniform air traffic management can create drone-related safety as well as limit operational challenges. These key factors are projected to help drone operations in different regions simultaneously, and it will safeguard against environmental damage and property misfortunes.

COVID-19 Impact:

During the COVID-19 pandemic, the market for drones encountered various fluctuations. In certain industries, such as manufacturing and hospitality, prospects significantly narrowed throughout 2020, attributed to cessation of all activity in these domains due to the imposition of lockdowns. In any case, drones became important for general surveillance purpose, particularly to ensure that social distancing protocols were kept up with.

The <2Kg segment is expected to be the largest during the forecast period

The <2Kg segment is expected to have a lucrative growth, due to high demand for military and commercial applications. Based on weight, the market is segmented into <2Kg, 2Kg - 25Kg, and 25Kg - 150Kg. The <2Kg segment is assessed to hold the highest commercial drone market share in 2021 attributable to the rising adoption of small drones for different applications such as filming, photography, mapping, surveying, inspection, and others.

The fully autonomous is expected to have the highest CAGR during the forecast period

The fully autonomous segment is anticipated to witness the fastest CAGR growth during the forecast period, due to rising demand for drones that have the capability to fly Beyond Visual Line of Sight (BVLOS) is anticipated to fuel the growth of the fully autonomous segment. Moreover, the increasing demand for AI-enabled drones is expected to surge the demand for fully autonomous drones.

Region with highest share:

The North America region market is estimated to witness a highest share of the global commercial drone market during the forecast period, due to favorable government initiatives, advancements in drone technology, and the rising demand from businesses across different industries.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, as the market growth is likely to be driven by a favorable regulatory landscape, especially among the developed nations. Several governments are constantly working on formulating new regulations for the commercial applications of drones. Moreover, numerous start-up companies are testing new applications of drones for commercial purposes and working on enhancing the safety of the drones.

Key players in the market

Some of the key players in Powder Metallurgy market include 3D Robotics, Inc., Intel Corporation, Azur Drones, Teal Drones, Aeronavics Ltd, Zipline, SKYDIO Inc, Parrot Group, Teledyne , Draganfly Innovations Inc., Autel Robotics, PrecisionHawk Inc., AeroVironment Inc, XAG Co. (China), AgEagle Aerial Systems Inc, DJI, YUNEEC.

Key Developments:

In January 2022, Azur Drones announced new funding of roughly USD 9.06 million to assist its expansion in 2022, following a year of great growth, particularly internationally. This round of funding, which was done with a private French investor, raises the total amount raised since 2016 to over USD 40.16 million. It should help the French SME, which is the market leader in drone-in-a-box solutions, consolidate its position.

In March 2022, DJI unveiled Matrice 30 series, which it refers to as a "new generation of commercial drones." M30 and M30T have a wind resistance of 15 m/s and can fly in heavy rain and temperatures as low as -4 degrees Fahrenheit. It combines multiple high-performance sensors into a single camera array and provides significantly more power, endurance, and capability for rugged professional applications than typical consumer drones. This drone has been created to withstand extreme temperatures and harsh environments, which can fly in heavy rain, strong winds, high altitudes, and icy or snowy conditions in cold weather.

In May 2021, YUNEEC Holding Ltd., in collaboration with ATL and FoxFury Lighting Solutions added Foxfury light systems to Yuneec H520, H520E, and H520E-RTK unmanned aerial vehicles for night missions. FoxFury light systems are best suited for air and ground missions and have been specially designed to be portable in air and on ground, serving public safety and construction across the globe.

Product Types Covered:

• Fixed-wing
• Rotary Blade
• Hybrid

Systems Covered:

• Hardware
• Software

Weights Covered:

• <2Kg
• 2Kg - 25Kg
• 25Kg - 150Kg

Technologies Covered:

• Fully Autonomous
• Semi-autonomous
• Remote Operated

Applications Covered:

• Inspection & Maintenance
• Filming & Photography
• Precision Agriculture
• Mapping & Surveying
• Surveillance & Monitoring

End-Users Covered:

• Agriculture
• Delivery & Logistics
• Energy
• Media & Entertainment
• Real Estate & Construction
• Security & Law Enforcement

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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