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Global Drone Service Market to 2027 - Analysis and Forecasts by Leading Players Flirte, Zipline, Airinov, Skyspecs, Measure, Sky-Futures, Terra Drone

03-13-2019 04:26 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

Drone Service Market

Drone Service Market

TThe drone service providers offer various types of drones to the end user industries for several purposes such as surveying, mapping, inspection, cinematography, and goods delivery among others. These third- party service providers offer their customers a variety of drones ranging from fixed- wing drones, rotary wing drones, and hybrid drones. The rotary wing drones are the most attractive unmanned aerial vehicles for commercial use, and the same is expected to dominate the market for drone service over the next decade. The primary advantage of rotary wing drones is that these vehicles have the ability to VTOL (vertical takeoff and landing), thereby requiring smaller takeoff and landing area. Another strength of rotary wing drones to hover around and to execute agile maneuvering, which helps the rotary wing drones to attract customers from several industries. The rotary wing drones are majorly deployed for applications such as precision inspection, as these drones have the ability to hover in a particular region and inspect a single target for a more extended period. These capabilities have impressed various end- user industries, which has improved its adoption rate in the drone service market.

The major companies offering drone services to different industries include Terra Drone Corporation, CyberHawk Innovations Limited, Drone Volt, Zipline, Aerodyne Group, Airinov, Sky Future, SkySpecs, Measure and Flirtey among others. Several other companies are also offering these services to different industries which are facilitating the drone services market to propel over the years.

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The drone service market is estimated to reach US$ 24,882.2 Mn by 2027 from US$ 435.2 Mn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Moreover, the drone service providers opt for rotary wing drones attributing to the benefit that these drones are easier to transport from one place to another. The designs of these drones help the user or the operator to fold and pack into a smaller unit, which has attracted several drone service providers. The result of this is the increasing market size of drone service through rotary wing drones. Further, accounting to the compact size of the product as compared to fixed- wing drones, the rotary wing drones are less expensive. Coupling the lower price of the drones with a higher return on investment, the services providers tend to purchase these drones and offer their customers with rotary wings UAVs. These are the primary factor that has boosted the rotary wing drones in the drone service market in the past few years, and the same is expected to accentuate the demand in the coming years.

The global market for drone service is segmented on various parameters such as drone types, services, industries, and geography. Based on drone type, rotary wing drone segment dominates the market , and the same is expected to retain its dominance throughout the forecast period from 2019 - 2027. However, the hybrid drone segment is anticipated to escalate at a faster rate over the years. On the basis of service, the delivery segment is expected to witness significant growth rate in the coming years, owing to the gradual simplification of rules and regulation set by the governing authorities in different regions. Drone service market operates in an extremely fragmented industry with the massive number of smaller players capturing the market. Key players operating in the market are introducing attractive services and solution which is helping the companies to gain customer traction.

North America is one of the prominent regions in the drone service market which is contributing highest revenue globally due to the increase in the population. The US is a developed country in terms of advanced technology, the standard of living, and infrastructure among others. Across North America, the technological advancements have led to highly competitive markets. The adoption of drones in the region is wholly dependent on specific rules and regulations set by the Federal Aviation Administration (FAA).

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DRONE SERVICE MARKET LANDSCAPE

3.1 MARKET OVERVIEW 19
3.2 MARKET SEGMENTATION 20
3.2.1 Global Drone Service Market – By Drone Type 21
3.2.2 Global Drone Service Market – By Service 21
3.2.3 Global Drone Service Market – By Industry 22
3.2.4 Global Drone Service Market – By Geography 22
3.3 PEST ANALYSIS 23
3.3.1 North America – PEST Analysis 23
3.3.2 Europe PEST Analysis 25
3.3.3 ASIA PACIFIC PEST Analysis 27
3.3.4 Middle East & Africa PEST Analysis 29
3.3.5 South America PEST Analysis 31

4. DRONE SERVICE MARKET – KEY INDUSTRY DYNAMICS 33

4.1 KEY MARKET DRIVERS 33
4.1.1 Increasing Adoption of Drone Based Solutions in Agriculture Sector and Media Industry is Constantly Driving the Market 33
4.1.2 Rotary Wing Drones have Influenced the Drone Service Market Over the Years 34
4.2 KEY MARKET RESTRAINTS 34
4.2.1 Lack of Skilled Drone Operators in Developing Regions to Hamper the Market Growth 34
4.3 KEY MARKET OPPORTUNITIES 35
4.3.1 Rising Adoption of Drone Services in E-commerce Industry is Anticipated to Stimulate the Market Growth 35
4.4 FUTURE TRENDS 36
4.4.1 Beyond the Visual Line of Sight (BVLOS) to Accentuate the Demand for Commercial Drone Service 36
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 36

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

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