The Commercial Drone Market size is projected to reach US$ 54.61 billion by 2031 from US$ 10.03 billion in 2023. The market is expected to register a CAGR of 23.6% in 2023–2031. The growing proliferation of commercial drones for precision farming, photography, and surveillance purposes is driving the growth of the commercial drone market globally.
Commercial Drone Market Analysis
Commercial drones are leveraged primarily for various applications that include precision farming, filming, photography, monitoring or surveillance and delivery of products. The growing technological advancement is also boosting the demand for commercial drones globally. Various industries have incorporated commercial drones to advance their business operations. The commercial drone helps in monitoring and capturing high-end images which helps in smooth operation. The growing usage of commercial unmanned drones for filming and photography is also anticipated to drive the growth of the commercial drone market globally.
Commercial Drone Market Overview
The growing proliferation of commercial unmanned drones for monitoring any casualty situation such as flood, earthquake, or fire outbreak is also acting as a major driver for the market. The rescue operators primarily leverage commercial drones for surveillance and monitoring purposes and to get an aerial view of the overall situation, which helps in making major decisions regarding the ways to initiate rescue operations. Additionally, the rising application of commercial unmanned drones in parcel delivery, owing to the rising proliferation of the retail and e-commerce sector, is also having a positive impact on the commercial drone market globally. The commercial drone market is segmented by type, weight, component, and application. In terms of type, the commercial drone market is categorized into fixed wing, rotary, and hybrid. On the basis of weight, the market is classified into <2 Kg, 2 Kg – 25 Kg, 25 Kg – 150 Kg. In addition, on the basis of components, the market is segmented into hardware and software. In terms of application, the commercial drone market is segmented into filming & photography, horticulture & agriculture, inspection and maintenance, mapping & surveying, surveillance & monitoring, delivery & logistics, and others.
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Commercial Drone Market: Strategic Insights
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Commercial Drone Market: Strategic Insights
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Commercial Drone Market Drivers and Opportunities
Growing Application of Small Unmanned Commercial Drones in the Agriculture Industry is Expected to be the Prime Driver for the Commercial Drone Market
The growing proliferation of digitalization and integration of software applications to monitor the overall operational efficiency of farming land is anticipated to drive the growth of the commercial drone market globally. The real-time data and aerial images of the complete farm help the farmers identify the issues concerning the land’s well-being, which might negatively impact the crop production rate. Additionally, managing mid to large-size agricultural lands in remote locations is unmanageable if agriculture drones are not in application, as they help in spraying insecticides over the land in a much faster and more efficient manner. Commercial drones also boost precision farming by managing a proper schedule for watering, harvesting, and fertilizing the land properly. Thus, the utilization of advanced technologies like farm monitoring software, crop managing technologies, and digital aerial imaging technologies is acting as a major driving factor for the market.
Supportive Government Policies Related to Drone Application
The growing government focus on precision farming owing to its requirement to meet the growing demand for food products worldwide is anticipated to support the growth of the commercial drone market. For instance, in 2022, the US Federal Government and Administration approved US$750,000 to advance the Warren drone training program that supports modern-age farmers in precision farming technologies. Supportive government policies for flying drones also help in same day package delivery, filming and photography, and monitoring oil and gas and mining sites. Thus, the rising governmental support and assistance for using advanced commercial drones is anticipated to increase the growth of the commercial drone market over the forecast period.
Commercial Drone Market Report Segmentation Analysis
Key segments that contributed to the derivation of the commercial drone market analysis are type, weight, component, and application.
- Based on type, the commercial drone market has been divided into fixed wing, rotary, and hybrid. The rotary segment held a larger market share in 2023.
- In terms of weight, the market has been segmented into <2 Kg, 2 Kg – 25 Kg, 25 Kg – 150 Kg. The <2 Kg segments dominated the market in 2023.
- In terms of components, the market has been segmented into hardware and software. The hardware segment dominated the market in 2023.
- In terms of application, the market has been segmented into filming & photography, horticulture & agriculture, inspection and maintenance, mapping & surveying, surveillance & monitoring, delivery & logistics, and others. The filming & photography segments dominated the market in 2023.
Commercial Drone Market Share Analysis by Geography
The geographic scope of the Commercial Drone Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America led the commercial drone market in 2023. The North America region includes the US, Canada, and Mexico. Many companies across the region are focusing on investing in advanced unmanned commercial drones to meet modern filming, photography, agricultural, construction, and security requirements. Thus, the growing application of commercial drones to augment precision farming, along with increasing demand for high-end commercial drones for films and photography, is expected to propel the growth of the commercial drone market over the forecast period in North America. Surveying and mapping is also one of the major application areas of commercial drones in the North America region. An increasing number of mining and oil &gas exploration and production activities are boosting the demand for small, unmanned commercial drones for sensing and capturing aerial images of the sites for augmenting better operation management, which is also having a positive impact on the commercial drone market in North America.
Commercial Drone Market Regional Insights
Commercial Drone Market Regional Insights
The regional trends and factors influencing the Commercial Drone Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Commercial Drone Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Commercial Drone Market
Commercial Drone Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 10.03 Billion |
| Market Size by 2031 | US$ 54.61 Billion |
| Global CAGR (2023 - 2031) | 23.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Commercial Drone Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Commercial Drone Market are:
- SKYDIO
- DJI Technology Co., Ltd.
- Yuneec International Co. Ltd.
- AeroVironment, Inc.
- Teledyne FLIR LLC
- Parrot SA
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Commercial Drone Market top key players overview
Commercial Drone Market News and Recent Developments
The Commercial Drone Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Commercial Drone Market and strategies:
- On May 2023, DJI Technology Co., Ltd. introduced its DJI Matrice 350 RTK (M350 RTK), which is an advanced drone platform for any aerial operation in public safety, energy sector, mapping and surveying, forestry, or infrastructure sector. (Source: DJI Technology Co., Ltd., Press Release/Company Website/Newsletter)
- On September 2023, Skydio launched its Commercial Drone named Skydio X10. (Source: Skydio, Press Release/Company Website/Newsletter)
Commercial Drone Market Report Coverage and Deliverables
The “Commercial Drone Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Weight, Component, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
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