With the emergence and long-term Impact of COVID-19, the Global Commercial Drone Market is to reach USD 55.08 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Commercial Drone Market is poised to raise up to USD 55.08 Billion by 2030. A commercial drone, also known as unmanned aerial vehicle (UAV) or unmanned aircraft system (UAS), is an aircraft that is operated without a human pilot onboard. These drones can be controlled remotely by a human operator or can be pre-programmed to fly autonomously using software and GPS technology. Commercial drones are used for various purposes across different industries and sectors due to their versatility and capabilities. The Commercial Drone market is expanding because of factors such as increased demand for commercial drones in the logistics and transportation sector, rising investments in drone technology and rising industrial applications.
The market is being driven by factors such as rising e-commerce sales across the globe. E-commerce companies are exploring drone delivery options to improve their last-mile logistics and reduce delivery times. This has led to an increased demand for commercial drones in the logistics and transportation sector. TCI Express, an express logistics provider, announced in November 2021 that it would start using drone deliveries in 2022. Following the conclusion of the initial trials of sending urgent/immediate delivery items, including prescription medications, to Ahmedabad. Along with this, In June 2022, Amazon, the world’s largest logistics company, announced that it would start utilizing Prime Air drones to deliver packages in late 2022 in the small Californian hamlet of Lockeford.
When it expands, the company intends to incorporate lessons it learned from the Lockeford test to enhance the services. additionally, Advancement in design and integrated data intelligence and rising government investment in defense and military sector are some factors creating lucrative opportunities for market growth. For instance, in September 2021, The Indian Ministry of Defense and the Department of Defense of the United States have a contract for an air-launched UAV project. A joint working group air system in Defense Technology and Trade Initiative initiated the project. The project agreement is a significant development for defense cooperation between the two nations. However, Security and privacy issues and lack of uniform air traffic management stifles market growth throughout the forecast period.
Geographically, the global Commercial Drone Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the dominance of product manufacturers, rising adoption of commercial drones, rising government investment in development of drone technology, rising adoption in defense industry and integration of AI and Data intelligence in commercial drone. Whereas, Asia Pacific is projected to registered a significant growth owing to factors such as rising government projects, military budgets, rising adoption of commercial drones in various end use application, and rising collaboration and partnership among market players for product development.
The global Commercial Drone Market is highly competitive owing to the presence of several key manufacturers such as AeroVironment, Inc., Aeryon Labs Inc., Delair, DJI Technology Co., Ltd., Insitu Inc., Leptron Unmanned Aircraft Systems, Inc., and others.
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Global Commercial Drone Market Size study & Forecast, by Weight (<2 Kg, 2 Kg – 25 kg, 25 Kg – 150 Kg), by Technology (Fully Autonomous, Semi-autonomous, Remote Operated), by System (Hardware, Software), By Application (Filming & Photography, Horticulture and Agriculture, Inspection and Maintenance, Mapping and Surveying, Surveillance & Monitoring, Delivery and Logistics and Others) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Commercial Drone Market is anticipated to grow with a healthy growth rate of more than 25.82% over the forecast period 2023-2030.
- In the Technology segment, remote operated emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising government investment in development of drone technology.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- <2 Kg
- 2 Kg – 25 kg
- 25 Kg – 150 Kg
- Fully Autonomous
- Remote Operated
- Filming & Photography
- Horticulture and Agriculture
- Inspection and Maintenance
- Mapping and Surveying
- Surveillance & Monitoring
- Delivery and Logistics
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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