Global Commercial Drones Market is expected to grow at a ~15% CAGR from 2022 to 2028: Ken Research

According to Ken Research Analysis, the global commercial drones market was valued at ~US$ 5 billion in 2017, it is estimated to be ~US$ 12 billion in 2022 and is expected to grow at a ~15% CAGR from 2022 to 2028, with market size of ~US$ 30 billion in 2028. Commercial drones' increased capability in gathering high-resolution images and conducting aerial surveys has resulted in their popularization.

For more information, request a free sample-- https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDU3

Key Growth Drivers

The advancement of remote sensing and surveillance technologies, such as automatic dependent surveillance-broadcast (ADS-B) is driving the demand for commercial drones.
Favorable government guidelines regarding the use of drones in a number of industries, notably in the ongoing COVID-19 pandemic also accelerating the growth of the Global Commercial Drones Market.
Higher costs associated with drones, and the lack of farmers' awareness regarding farming technologies are the challenges to the growth of the commercial drone market.
The ongoing COVID-19 pandemic has initially disrupted the supply side of commercial drones, but demand has increased significantly later on due to labor shortages across countries.

Key Trends by Market Segment

By Type:  The Rotary segment held the largest market share of the Global Commercial Drones Market in 2021.

The growth is mainly attributed to the fact that rotary drones are highly adopted and most commonly used across industries due to a number of benefits, including greater versatility, which allows them to fly in areas other drones cannot, stay in a stationary position, and provide vertical take-off and landing (VTOL) functionality.
They also have increased payload capacity, allowing them to carry far more payload than fixed-wing, and hybrid drones.

By Mode of Operation: The Remotely Operated segment held the largest market share of the Global Commercial Drones Market in 2021.

The growth is mainly attributed to its popularity and frequent use, as most individuals are not keen to adopt high-tech mechanisms.
However, as people are becoming aware of advanced technologies, they are opting for hi-tech drones, resulting in increased market growth for autonomous and semi-autonomous drones.

By Application: The Filming & Photography segment held the largest market share of the Global Commercial Drones Market in 2021, owing to the advent of digitalization in photography and the utilization of new technology.

Aerial photography was previously done using hot-air balloons, airplanes, kites, helicopters, and more. Nowadays, drones are increasingly popular for aerial photography as they are simpler to use and much more cost-effective than renting a helicopter and provide high-quality images and videos from expansive angles.
Furthermore, drones' associated advanced features, such as computer-assisted smart shots and smart management systems, are also boosting the demand for drones in film industry as well.

For more information, request a free sample-- https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDU3

By Geography: North America accounted for the largest market share in the global Commercial Drones market in 2021.

Increased government expenditure to support the expansion of UAVs/drones is fueling the region's market growth.
For instance, according to Federal Aviation Administration (FAA), a U.S. government agency, 865,505 drones were registered in the United States in May 2022, with 314,689 of them being commercial drones.
In July 2020, the United States Department of Defense (DoD) awarded five companies contracts totaling US$ 13.4 million to support the domestic small unmanned aerial system (sUAS) industrial base.
Furthermore, rising UAVs demand for aerial photography, surveillance, and monitoring activities, along with the presence of well-established market players in countries such as USA and Canada, are also propelling the regional market growth.

For instance, in February 2022, according to Al-Monitor, a U.S.-based online news portal, the U.S. Navy and security partners will patrol Middle Eastern seas with 100 drones by 2023 to improve defenses against illicit activities.

Visit this Link Request for custom report-- https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MDU3

Competitive Landscape

The Global Commercial Drones market is competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche tech offerings, such as autonomous or advanced navigation systems, increased range, heavy payload, image stitching, red, green, and blue (RGB) color model, and more.

Country-Niche players constitute about ~45% of the market, while regional players hold a share of ~35%. Some of the major players in the market include AeroVironment Inc., SZ DJI Technology Co., Ltd., Parrot SA, SenseFly (AgEagle Aerial Sys), Insitu Inc., Yuneec International CO. Ltd, Autel Robotics, Delair, Ehang Holdings Limited, Aerialtronics, and among others.

For more insights on the market intelligence, refer to the link below:-
https://www.kenresearch.com/business-research/global-commercial-drones-market-outlook-2028/

Recent Developments Related to Major Players and Organizations

In September 2022, AeroVironment, a U.S.-based vehicle manufacturer, unveil the new unmanned aircraft system (UAS) named 'VAPOR Helicopter', which supports increased endurance and expanded payload capacity to meet evolving needs of defense, commercial, and industrial customers.
In September 2022, Autel Robotics, a Chinese drone manufacturer, announced the launch of new drones and supporting products, including the new 'Autel EVO II V3 Series', a new Live Deck video streaming accessory, and two new smart controllers to support the updated drones.

Conclusion

The global Commercial Drones market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the expansion of commercial drones is the rising adoption of advanced technologies, including artificial intelligence (AI), and machine learning (ML) across industries and increased application areas, including precision agriculture, aerial imaging, cargo management, traffic monitoring, and others. Though the market is highly competitive with ~100 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within maximum 2 working weeks.

Ken Research has recently published report titled, Global Commercial Drones Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 Market is segmented by type, mode of operation, and application. In addition, the report also covers market size and forecasts for the four major regions' Wax Markets. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Type

Fixed Wing
Rotary
Hybrid

By Mode of Operation

Remotely Operated
Semi-Autonomous
Autonomous

By Application

Mapping & Surveying
Precision Agriculture
Filming & Photography
Inspection & Maintenance
Others

By Geography

North America

USA
Canada
Mexico

Europe

France
Italy
Germany
Spain
UK
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Australia Rest of Asia Pacific

LAMEA

Latin America
Middle East
Africa

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

We currently cater to 300+ sectors with 150,000+ research repository across 196+ countries serving 1000+ clients and have partnered with almost 25+ content aggregators.

This release was published on openPR.