Global Commercial Drone Market, Trends, Analysis, Opportunities, Share and Forecast – 2019-2025
Global commercial drone market size is valued at USD 5.80 billion, with an estimated 274.6 thousand units sold, in 2018 at a CAGR of 56.5% during the forecast period.
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Delivery and logistics are anticipated to emerge as the fastest-growing segment over the next few years. This can be attributed to the fact that UAVs offer relatively cheaper and quicker delivery of goods from warehouses to customers as compared to the conventional delivery methods. Such ease in transportation is boosting this market in its demand. The use of drones in this sector is expected to increase the online retail sales as fast, and free shipping drives customers to shop online.
Increasing demand for the development of advanced farming techniques is expected to drive the commercial drones market in the agriculture segment over the forecast period. Growing awareness regarding the implementation and benefits of these devices in several agricultural activities among farmers is poised to support the growth of the end-use segment.
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 contributing to the demand of the commercial drone market. 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. Thus, companies operating in the regional market are exploring new ways to transform their conventional business processes by leveraging the benefits offered by drones.
Prominent players in commercial drone market are 3D Robotics, AeroVironment Inc., Airobotics, Airware, Amazon Prime Air, Bae Systems, Cyberhawk Innovations Ltd., DJI, DroneDeploy, Ehang Inc., Hoverfly Technologies, Intel Corporation, Kespry, Parrot SA, Pricisionhawk, senseFly, Walkera Technology Co. Ltd., Xaircraft, Xiaomi Inc., Yuneec International.
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