Global Drone Services Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Drone Services Market 2021 (Includes Business Impact of COVID-19)
Global Drone Services Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights, which offers in-depth insights, revenue details, and other vital information regarding the global drone services market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global drone services market report has been segmented on the basis of drone type, service duration, application, industrial vertical, and region.
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The global Drone Services market size was valued at USD $5.97 billion in 2020 and is projected to reach USD $429.01 billion by 2030, and is anticipated to expand at a CAGR of 50.80% over the forecast period from 2020 to 2030.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Overview:

Drone services include various types of services such as surveillance, monitoring, aerial photography, mapping, etc. that are provided by unmanned arial vehicle. Drones are small in size and able to fly in remote locations and areas that are hazards to human life. There are mainly two types of drones namely remotely controlled drone or autonomous drone. Drones provide safe and low cost alternative to manned aircrafts. They provide solutions to the industrial sector in terms of various applications, software, and sensors.

Dynamics:

Increasing adoption of drones for its applications in various industries is a major factor driving growth of the global drone services market. Availability of customized drones according to requirement of the end-use industry is resulting into increasing demand for drones designed for specific applications, which is another factor supporting growth of the global market.  Furthermore, growing use of Internet of things (IoT) applications in drones is a factor expected to boost demand for the products thereby supporting growth of the global drone services market in the near future.

However, lack of skilled workforce for operating the drones is a major factor that may hamper growth of the global drone services market. In addition, strict regulations regarding drone limited bandwidth for drone applications is another challenging factor that could affect growth of the global market. Nevertheless, increasing demand for technologically advanced drones can create high revenue opportunities for players in the target market.

Segment Analysis:

On the basis of type, the multirotor drone segment is expected to register high growth in terms of revenue in the near future. Increasing preference for multirotor drone over fixed wing drone among end users, owing its stability and ability to hover longer is a major factor driving growth of this segment in the global market.

Regional Analysis:

Market in North America is expected to account for major share in terms of revenue in the global market, and is expected to register lucrative growth over the forecast period. Increasing use of drones in agriculture, media and entrainment and construction sectors is a key factors fueling growth of the target market in this region. Asia Pacific market in expected to register fastest growth in terms of revenue in the near future. Growing use of drones for commercial application is a factor driving growth of the drone services market in countries in this region. In addition, increasing inclination and adoption of technologically advanced devices is another factor expected to propel growth of the target market in countries in Asia Pacific.

Global Drone Services Market Segmentation:

Segmentation by drone type:

  
Multirotor Drone
  
Fixed wing Drone

Segmentation by service duration:

  
Long Duration Service
  
Long Duration Service

Segmentation by application

  
Data Acquisition and Analytics
  
Aerial Photography and Remote Sensing
  
Inspection and Environmental Monitoring
Mapping and Surveying
  
Product Delivery
  
3D Modeling
  
Others (Emergency Services, Media, Engineering, etc.)

Segmentation by industrial vertical:

  
Logistics
  
Utility and Power
  
Security, Search & Rescue
  
Infrastructure
  
Mining
  
Oil and Gas
  
Agriculture
  
Insurance
  
Scientific Research
  
Media & Entertainment


Key Market Players included in the report:


  
Aerodyne Group (U.S.)
  
AgEagle Aerial Systems Inc. (U.S.)
  
Airware
  
Cyberhawk
  
Deveron UAS (Canada)
  
DroneDeploy (US)
  
Flirtey (U.S.)
  
Identified Technologies (US)
  
MATTERNET (U.S.)
  
Measure (US)
  
Phoenix Drone Services LLC (U.S.)
  
Prioria Robotics (US)
  
SenseFly (Switzerland)
  
Sharper Shape (US)
  
Sky-Futures (UK)
  
Skylark Drones (India)
  
Terra Drone (Japan)
  
The Sky Guys (Canada)
  
Unmanned Experts (US),
  
Zipline (U.S.)


Below are the key development related to Drone Services Market in 2020 and 2021.


June 2021: Volatus Aerospace Acquires ConnexiCore to Expand Drone Services Business into the US. The acquisition will create the largest and most comprehensive drone services provider in North America, with a pilot network blanketing Canada and the United States. Source

October 2020: Volatus Aerospace Expands Offering in Drone Services and Training Capabilities. Volatus announces the acquisition of M3 Aerial and Skygate Drones. Volatus Aerospace, a fast-growing integrated provider of unmanned aircraft and drone services, has reached an agreement to to increase its stakes to 100% ownership in three established drone training and services providers, namely M3 Drone Training Zone Inc. and M3 Drone Services Ltd. of Winnipeg, MB and Skygate Videography Inc. of Summerside, PEI. Source