Drone Services Market to Exhibit Striking 41.34% CAGR till 2026

The global drone services market size is predicted to reach USD 67.43 billion by 2026, exhibiting a CAGR of 41.34% during the forecast period. The increasing utilization of drones in military applications will boost this market revenue during the forecast period. The rising demand for commercial drones in agricultural applications such as crop rotation, crop protection aquaponics, and organic farming will accelerate the drone services market growth. Besides, the increasing requirement for data analytics, data acquisition, and real-time inspection will spur demand for drones, which, in turn, will enable speedy growth of the market in the forthcoming years.

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According to the report, published by Fortune Business Insights, titled “Drone Services Market Size, Share and Industry Analysis, By Type (Fixed-wing and Rotary-wing), By Application (Aerial Photography, Delivery & Pick up, Surveillance & Inspection, Data acquisition & Analytics, and Remote Sensing & Environment Monitoring), By End-use Industry (Agriculture, Homeland Security, Oil & Gas, Logistics, Infrastructure, Media & Entertainment, and Others), and Regional Forecast,2019- 2026” the market size stood at USD 4,233.9 million in 2018. The drone services market report is fixed at delivering a comprehensive description of the dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the drone services market. It further examines the ways and components convincing expansion, growth patterns, restricting factors, and market strategies.

Competitive Landscape:

Introduction of Drone Solutions by DroneDeploy to Foster Growth

DroneDeploy, a leader in cloud-based drone software services announced the launch of a single program for all drone operations. The company unveiled automated drone fleet management, enhanced workflow integrations, a low-altitude inspection mode, and advanced analytic capabilities in the launch. The initiation of innovative drone solutions by DroneDeploy will stimulate the healthy growth of the market during the forecast period owing to the one-stop solutions for all drone operations.

Furthermore, DroneDeploy Chief Executive Officer and co-founder Mike Winn, said in a statement, “Today's product launch is a reflection of the demand from our customers for a complete enterprise-grade drone operating system. We have customers with fleets of 100+ drones looking for a single enterprise platform for their entire drone program, and we believe this launch will reshape how they manage their drone operations and data.

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List of the Key Companies Operating in the Drone Service Market are:

Aerodyne Group.
Cyberhawk
Flirtey.
Hemav
Matternet
Measure
Sky-Futures
Skylark Drones
Terra Drone
Verity Studios
Zipline

Regional Analysis:

Existing Drone Manufacturers to Augment Growth in North America

The market in North America generated a revenue of USD 1,464.9 million and is expected to grow rapidly during the forecast period. The growth in the region is attributed to the presence of prominent market players and OEMs. Moreover, the growing deployment of drones in military operations will encourage healthy growth of the market in North America.

The Asia Pacific is predicted to hold the largest share in the market owing to the demand for commercial drone services in India and China. The presence of Terra Drone, Skylark Drone and Australian UAV will further create opportunities for the market in Asia Pacific. The increasing investment in infrastructure, construction and logistics sector will spur opportunities for drone services market shares in the Middle East in the forthcoming years.

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