Market Outlook:

The anticipated global commercial drone market size is poised to reach USD 5.32 Billion by 2024, with a projected escalation to USD 10.62 Billion by 2030, reflecting a compound annual growth rate (CAGR) of 11.2% during the forecast period. 

Commercial drones, also known as unmanned aerial vehicles (UAVs), are classy aerial machines that function without a human pilot on board. Rather, they are either programmed to fly on their own using complex algorithms or pre-programmed instructions, or they are remotely operated by an operator. Commercial drones are made for resident usage in a diversity of non-military sectors, in contrast to military drones, which are regularly employed for defense or surveillance. High-resolution cameras for photography and video, sensors for collecting environmental or structural data, GPS systems for accurate navigation and location tracking, and communication modules that permit real-time data transmission to ground control systems or cloud-based platforms are just a few examples of the state-of-the-art technology that these drones integrate. Commercial drones are flexible instruments that can carry out a wide diversity of activities due to their characteristics. Commercial drones' widespread functionality makes them vital in a variety of businesses, providing accurate, efficient, and reasonably priced solutions to challenging problems.

Market Dynamics:

Driver:

The growing use of drones in deliveries and inspection fuels the growth of the commercial drone market. Drones are particularly useful for inspecting hard-to-reach areas at exact elevations or in hazardous environments. Since drones may be used to conduct tower monitoring more quickly and affordably, they have updated the inspection of telecommunications towers. Additionally, buildings and other infrastructure, including pipelines, electric grids, offshore plants, and solar plates, can be evaluated from the air using drones. They can identify hotspots—areas where energy is not dispersed uniformly on solar plates using thermal imaging cameras. By quickly identifying potentially troublesome locations, this helps increase the output of solar power facilities. For example, inspections close to energy-generating facilities can be conducted using the Lockheed Martin Procerus Technologies Indago quadrotor. Medical supplies can be delivered by drone in challenging terrain. Since drones will cut down on both delivery time and cost per delivery, they are regarded as the last-mile delivery of the future for consumer goods. Autonomous delivery or human-less services will progressively become more advantageous, particularly in industrialized nations, as delivery workers' earnings continue to increase.

Restraint:

The lack of skilled personnel for operating drones hampers the growth of the commercial drone market. One potential issue is the shortage of personnel with the necessary training to operate drones and infrastructure like runways. For example, the lack of authorized drone pilot schools and licensing centers in Africa exacerbates the lack of laws. Only South Africa is home to the schools and centers that are now operating on the continent and have been authorized by the relevant national civil aviation authority. Therefore, major obstacles to the global expansion of the drone-based services industry may include the lack of authorized drone pilot training facilities, the non-recognition of drone pilot licenses across national borders, and a lack of coordination regarding existing regulations. Drones' ability to withstand adverse environmental factors like wind and turbulence has not yet been thoroughly assessed. Drone signal reception from the ground may be disrupted by electromagnetic interference.

Opportunity:

The increasing use in providing wireless coverage create a lucrative opportunity for the growth of the commercial drone market. In emergencies, commercial drones can be equipped with wireless coverage, acting as airborne wireless base stations if the cellular network is unavailable. They can also be added to the ground base station to give users more coverage and faster data speeds.  Additionally, drones can support a variety of terrestrial networks, including automotive and device-to-device networks. For example, drones can help ground devices quickly disseminate their formations due to their mobility and LOS communications. Additionally, by making use of broadcast diversity, drones may be able to increase the dependability of wireless networks in D2D and vehicle-to-vehicle (V2V) communications. By lowering the amount of transmissions between devices, flying drones can assist in broadcasting common information to ground devices, which helps to reduce interference in ground networks.

Challenge:

Commercial drone adoption is significantly influenced by consumer acceptance. Drones for commercial use by retailers around the world are still in their infancy, and in certain nations, like Pakistan, they have not yet gained traction. Drone adoption is also hampered by consumer worries regarding the effectiveness of drone delivery, the likelihood of theft, and the likelihood of weather-related damage to packages. Due to the lack of insurance coverage for packages, drone manufacturers and service providers face the possibility of losing packages. Even with the most sophisticated modeling techniques, accidents involving commercial airlines and general aviation are difficult to predict; yet, insurers at least develop sound premium calculations to compensate for losses annually.

Key Players:

• DJI Technology Co., Ltd.
• Parrot Drone SAS
• EHANG Holdings Limited
• Aerovironment, Inc.
• The Boeing Company
• Aeronavics Ltd.
• Draganfly Innovations Inc.
• Guangzhou EHang Intelligent Technology Co. Ltd
• Intel Corporation
• Autel Robotics
• PrecisionHawk Inc.
• YUNEEC International
• JOUAV
• Others

Recent Development:

• In July 2023, DJI Technology Co., Ltd has launched DJI Air 3, a new and potent drone. It complements the Air Series, which has two primary cameras. More users can now experience a sensation of compression in their photos due to its wide-angle and 3X medium tele cameras.

• IN December 2023, JOUAV's heavy-lift multi-rotor drone was upgraded with the PH-20 which previously known as the PH-25. The updated model, which can accommodate a variety of applications, promises a significant improvement in performance, adaptability, and dependability.

• In June 2021, EHang Holdings Limited tested its first passenger-grade autonomous aircraft to obtain authorization to operate in Japan's open airspace. Together with a local partner, it obtained a preliminary flying grant from Japan's Ministry of Land, Infrastructure, Transport, and Tourism (MLIT).

Segment Insights:

By Mode of Operation

Based on the mode of operation, the commercial drone industry is divided into three segments based on how they operate: totally autonomous, remotely piloted, and optionally piloted. The cost-effective use of remotely piloted UAVs in a diversity of applications, from surveys to defense operations, is estimated to drive the remotely piloted segment's growth over the forecast period. In a diversity of end-use industries, including agricultural, transportation, logistics & warehousing, and oil & gas, fully autonomous drones intensely increase operational effectiveness and lower costs.

By End-Use

The market for commercial drones has been divided into several end-use segments, including mining & quarrying, journalism & media, insurance, energy, and agriculture. The logistics and transportation segment is anticipated to increase at the fastest rate over the forecast period. As the global e-commerce industry continues to expand, postal firms are embracing new approaches to alter their conventional delivery business models. The market for commercial drones will expand as a result of numerous nations concentrating on deploying them for postal deliveries. The United States Postal Service is investigating the potential integration of commercial drones into its fleets of vehicles to enhance mail delivery services and facilitate the gathering of geospatial, sensor, picture, and other data. Drone-based package delivery solutions are being actively developed by companies like DJI (China). These services have already been developed by Amazon (US).

Regional Insights:

North America is the dominating region for the commercial drone market. The growing demand from many sectors and businesses in the US and Canada is acknowledged. Key firms like 3D Robotics, GoPro Inc., and Autel Robotics are widely present in the US and contribute significantly to the region's income generation. Due to all this development in many sector North America region is being the dominating for the market. The region with the fastest rate of growth is Asia-Pacific. A favorable regulatory environment, particularly among developed nations, is expected to propel the regional market. New rules for the commercial use of drones are continuously being developed by several governments in the area. Many start-up businesses in the area are experimenting with novel drone uses for business and trying to make drones safer.

Segmentation:

By Type

• Fixed Wing
• Rotary Wing
• Hybrid

By Systems

• Platform
• Payload
• Datalink
• Ground Control Station
• Launch & Recovery System

By Platform

• Micro
• Small
• Medium
• Large

By Mode of Operation

• Remotely Piloted
• Optionally Piloted
• Fully Autonomous

By Function

• Passenger Drones
• Inspection & Monitoring Drones
• Surveying & Mapping Drones
• Spraying & Seeding Drones
• Cargo Air Vehicles
• Others

By End-User

• Agriculture
• Insurance
• Energy
• Mining & Quarrying
• Logistic & Transportation
• Journalism & Media
• Others

By Region

North America

• USA

• Canada

• Mexico

Europe

• France

• UK

• Spain

• Germany

• Italy

• Rest of Europe

Asia Pacific

• China

• Japan

• India

• South Korea

• Rest of Asia Pacific

Middle East & Africa

• GCC

• South Africa

• Rest of the Middle East & Africa

South America

• Brazil

• Argentina

• Rest of South America

What to Expect from Industry Profile?

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Commercial Drone market in the world.

2. Use PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Commercial Drone market.

3. Leading company profiles reveal details of key Textile dye market players’ global operations, strategies, financial performance & recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Commercial Drone market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the Global Commercial Drone Market?

• The growing use of drones in deliveries and inspection fuels the growth of the commercial drone market.  

2) What would be the CAGR of the Global Commercial Drone Market over the forecast period?

• The Global Commercial Drone Market is poised to grow at a CAGR of 11.2% from 2024 to 2030.

3) Which region will provide more business opportunities for the growth of the Global Commercial Drone Market in the future?

• The North America region is expected to create more opportunities in the market.

4) Who are the major players dominating the Global Commercial Drone Market?

• DJI Technology Co., Ltd., Parrot Drone SAS, EHANG Holdings Limited, Aerovironment, Inc., The Boeing Company, Aeronavics Ltd., Draganfly Innovations Inc., Guangzhou EHang Intelligent Technology Co. Ltd, Intel Corporation, Autel Robotics, PrecisionHawk Inc., YUNEEC International, JOUAV, Others.

5) What are the segments in the Global Commercial Drone Market?

• By Type, By Systems, By Platform, By Mode of Operation, By Function and By End-User are the industry key segments considered for research study.

6) What is the estimated market revenue for the Global Commercial Drone Market in 2030?

• The estimated revenue for the Global Commercial Drone Market in 203o is USD 10.62 Billion.