Commercial Drone Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Commercial Drone Market


The global Commercial Drone market size is projected to reach US$ 208.71 billion by 2026, from US$ 14.21 billion in 2020, at a CAGR of 56.5% during 2021-2026. These Unmanned Aerial Vehicles (UAVs) are finding increasing application across the entertainment, agriculture, and energy sectors, which is ultimately expected to impact the market growth positively. Initially viewed as a military device, UAVs have established a significant presence in the commercial world over the past few years.

One of the key factors driving their demand in commercial sectors is the fact that UAVs have the ability to perform hazardous tasks, such as inspecting utility pipelines, with higher precision and cost-effectiveness as compared to the conventional methods. Newer drone-supportive regulations by government bodies worldwide are expected to lower the entry barriers for new startups and innovators providing commercial operations of UAVs. Leading technology giants have demonstrated utilization of UAVs in delivering goods from the warehouse to the customer. The introduction of commercial drone delivery services is expected to foster various innovative forms of cargo transportation capabilities such as transport of temperature sensitive commodities and emergency medicines.

Drone manufacturers and Unmanned Aerial System (UAS) providers across the globe are developing custom-made industry-specific solutions to effectively address the business needs of their customers. Advancements in UAV technologies have made it possible for the manufacturers to produce a wide range of models in different sizes, weights, and shapes, which are capable of carrying different sensor payloads, making them useful across a broad application base.

Factors such as the upsurge in UAV venture funding; technological developments; and rising application in commercial sectors, including 3D mapping and drone delivery; are expected to contribute to market growth. However, several security and safety concerns, scarcity of trained pilots, and UAS traffic management issues are some of the factors that are anticipated to challenge growth of the commercial drone market to some extent.
There has been an increasing demand for drones in the commercial sector as they provide enhanced productivity through improvement in graphics visualization and an overall reduction in the cost of the project. The use of UAVs has demonstrated a notable improvement in surveying accuracy, primarily in the real estate and construction sector. The reduction in cost and time associated with such activities is leading to the increasing utilization of UAVs in these sectors. This trend is expected to create new job opportunities and add value to overall economies.

Market Segmentation, Outlook & Viewpoint: Global Commercial Drone Market

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

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

Product Market Segmentation & Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)

  
Fixed-Wing
  
Rotary Blade
  
Hybrid

End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

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

Key Players, Recent Developments & Regional Insights: Global Commercial Drone Market

The global demand for fixed-wing drones is poised to expand at a CAGR of over 60% in terms of volume from 2019 to 2025. They are generally preferred in larger areas for activities such as topographic surveys, aerial mapping, and terrain modeling, due to their ability to fly at high altitudes for long periods. The hybrid drones segment is anticipated to experience the highest CAGR over the forecast period, attributed to the fact that they can provide increased range, power, and payload size as compared to their battery-powered counterparts.

The rotary blade/multirotor segment led the market in 2018 and is projected to maintain its dominance over the forecast period. These products can be used in small and confined spaces with no special requirement for take-off and landing as such devices possess the ability of vertical takeoff and landing. Increasing demand for such UAVs in specific applications that require precise maneuvering and the ability to maintain a visual on a single target for long durations is anticipated to drive the segment growth over the forecast period.

Regional Insights

North America accounted for the largest market share in terms of revenue in 2018 and is anticipated to continue leading over the next six years owing to favorable government initiatives regarding the advancement in drone technology coupled with the growing demand from businesses for drone-acquired data. Moreover, the Federal Aviation Administration (FAA) in U.S. has released new regulations to provide more coherent and consistent guidelines concerning the legal and safe operation of UAVs in commercial spaces. Such rules and regulations are expected to reduce entry barriers and increase regional product adoption.

Asia Pacific is expected to witness the fastest CAGR over the next six years. Countries such as China and Japan are increasingly adopting automation and advanced technologies across a wide range of industries to counter the rising labor costs. The higher efficiency of UAVs as compared to manual labor for certain tasks, particularly in the agricultural sector, is expected to drive their adoption across the region. The sales of drones in Europe is steadily rising due to several favorable regulations. Companies operating in the regional market are exploring new ways to transform their conventional business processes by leveraging the benefits offered by drones.

The demand for UAVs in Middle East and Africa is expected to rise, particularly in inventory management and monitoring applications across the well-established oil and gas industry and utility sector of the region. Moreover, the regional oil and gas sector is increasingly adopting UAVs for pipeline inspection and maintenance applications. The adoption of drones is gaining momentum in the African countries majorly within the medicine and agriculture industries. Governmental bodies across the key African countries, such as Tanzania, have partnered with delivery companies, such as Zipline, to carry out deliveries of medical supplies and blood to inaccessible and rural areas.

Commercial Drone Market Share Insights

Some of the prominent companies operating in the market are DJI; Parrot Drones SAS; Xiaomi; AeroVironment Inc.; 3D Robotics; INSITU; and EHANG.Increasing funding by Venture Capitals (VCs) and collaborations with government agencies and technology giants are expected to create several growth opportunities for market players. Technology licensing, mergers and acquisitions, new product launches, and strategic partnerships are some of the key strategies adopted by the companies to gain a competitive edge.

Key Insights Covered: Global Commercial Drone Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Commercial Drone industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Commercial Drone industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Commercial Drone industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Commercial Drone industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Commercial Drone industry.

Research Methodology: Global Commercial Drone Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other