The Commercial Drone Market was worth US$ 20.8 billion in 2021, and it is estimated to reach a valuation of US$ 501.4 billion by the end of 2026, expanding at an annual growth rate of 57.5% between 2021 and 2026.
The drones are generally used for multiple locations which ranges from filmmaking to emergency response. The growing demand for Unmanned Aerial Vehicles for the military purposes is a factor that is expected to lead the Commercial Drone market during the forecast period.
Several benefits such as increasing adoption of commercial drones across the different parts of the world is expected to play an essential role in the growth of market of Commercial Drone across the globe. Another factor such as technology innovation and advancement, rising demand of high resolution satellite imagery and research and development initiatives which influence the growth of Commercial Drone market during the forecast period. Rising demand for aerial services, growing adoption of smartphones, increased demand for drone services from various sectors players are some of the major driving factors which promotes the growth of the revenue rate of Commercial Drone market during the forecast period.
Privacy issues and national security regulations, high cost of the drones is one of the important barriers to market growth. Also, the stringent regulations from the government regarding the national security and satellite imagery which acts as an substitute option, increasing adoption of satellite imagery are some of the restraints which restraints the growth of the Commercial Drone market.
The Commercial Drone market is segmented based on type, based on application and based on end use.
By type, the Commercial Drone Market is bifurcated into fixed wing rotary blade and hybrid type. The rotary blade segments held the prominent share and is predicted to remain at the forefront throughout the forecast period due to their ability to maintain a visual on a single target for a long time and to hover and perform the agile manoeuvring.
By application, the Commercial Drone Market is divided into filming and photography, inspection and maintenance, mapping and surveying, precision agriculture, surveillance and monitoring and other types of application. Among these segments, the filming and photography segment holds the major share of the market and this segment is expected to hold the dominance during the forecast period since now a days, these drones are becoming an essential part of professional photography.
By end use, the Commercial Drone Market is segmented into energy, media and entertainment, real estate and construction, security and law enforcement, agriculture, delivery and logistics and other end users. The media and entertainment management segment held prominent share of the market among the other segments due to the increasing demand from clients and owners for advertising resorts, public places and amusement parks through aerial photography, hotels, and tourist spots.
On the basis of region, the Commercial Drone market is segmented into Asia Pacific region, Europe region, North America region, Latin America region and Middle East and Africa region.
North America region hold the prominent share of the market due to the factors such as favourable government initiatives, advancements in technology propels the growth of the market. Furthermore, growing demand of from businesses across various industries, gradual rise in Commercial Drone adoption in the region especially in some of the countries such as US, Canada and Mexico propels the growth of the market.
Asia Pacific region is also expected to increase the market growth due to the favourable regulatory landscape in some of the major economies of the region such as India, China and Japan propels the growth of the revenue rate of the enterprises software market during the forecast period. Furthermore, the increasing of investments by the major key players of the market for R & D activities and also for the new advancements in the technology is also one of the major driving factor which promotes the growth of the revenue rate of the Commercial Drone market.
Europe is next in leading the highest shares of the market. Increasing awareness and rapid of latest technologies in industries are promoting the growth rate of the market.
Latin America and Middle East & Africa are likely to have significant growth opportunities in the coming years.
Key market participants of Commercial Drone market are Parrot SA, 3D Robotics, Inc., Leptron Unmanned Aircraft Systems, Inc., AeroVironment, Inc., SZ DJI Technology Co., Ltd., PrecisionHawk Inc., Yuneec International Co. Ltd., Aeryon Labs Inc., Trimble Navigation Ltd., Insitu Inc.
Due to the COVID 19 pandemic, there is gradual rise in utilization of drone technology across various scenarios since these drones proving to be of immense assistance in such situations. Since these drones are widely adopted in the healthcare sector for lab sample pickup and delivery as well as transportation of medical supplies for reducing the transportation turnaround time, the business will expand more and will reach an impeccable growth during the outlook period.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Commercial Drone Market, By Type
6.1.1 fixed wing rotary blade
6.1.2 hybrid type
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Commercial Drone Market, By Application
6.2.1 filming and photography
6.2.2 inspection and maintenance
6.2.3 mapping and surveying
6.2.4 precision agriculture
6.2.5 surveillance and monitoring
6.2.6 Market Size Estimations & Forecasts (2021-2026)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Commercial Drone Market, By end use
6.3.2 delivery and logistics
6.3.4 media and entertainment
6.3.5 real estate and construction
6.3.6 security and law enforcement
6.3.7 Market Size Estimations & Forecasts (2021-2026)
6.3.8 Y-o-Y Growth Rate Analysis
6.3.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.2.4 By end use
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.3.4 By end use
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.4.4 By end use
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.5.4 By end use
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Type
7.6.3 By Application
7.6.4 By end use
8. Key Player Analysis
8.1 3D robotics
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Parrot SA
8.3 Leptron Unmanned Aircraft Systems, Inc
8.4 AeroVironment, Inc
8.5 SZ DJI Technology Co., Ltd
8.6 PrecisionHawk Inc.
8.7 Yuneec International Co. Ltd
8.8 Aeryon Labs Inc
8.9 Trimble Navigation Ltd
8.10 Insitu Inc
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures