Professional Drone Services Industry Is Expanding at a Healthy CAGR of 15.2% by 2033

The global professional drone services market has reached a valuation of US$ 5.0 billion in 2023 and is expected to climb to US$ 20.6 billion by 2033, expanding at a healthy CAGR of 15.2% during the forecast period of 2023 to 2033.

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The professional drone services market is about 75.0% of the overall drone services market which was about US$ 6.6 billion in 2023.

Market Dynamics

Demand for time-efficient delivery services

The global market for e-commerce and logistics has expanded significantly in recent years. The expansion of the e-commerce and logistics industries is driving the demand for time-effective delivery solutions for the international transportation of essential commodities. To achieve this demand for faster delivery, drones provide contactless and efficient delivery. For instance, in order to hasten the development of the crucial drone delivery infrastructure for pharmaceuticals and other consumer goods, ANA Holdings Inc. and Wingcopter started partnership in 2021.

Restraint

Regulatory concerns affecting demand for drone services

To prevent privacy violations and maintain particular safety concerns, unmanned aerial vehicle (UAV) services are subjected to rules and regulations by various nations for drone platforms, obstructing market growth. Similarly, the Indian government has imposed stringent service regulations. A few principles are that drone pilots must request permission to fly before each flight using a smartphone app, which will automatically process the request and approve or reject it. India relates to its policy of "No Permission, No Takeoff" (NPNT). A drone pilot must have permission to fly a drone from the DigitalSky platform.

Impact of COVID-19 on the drone service market
During the COVID-19 pandemic, drones have proven ideal for providing various services. As a result, the drone services market value expanded significantly during the pandemic period. During the lockdown, delivering essential products, medicines, and vaccines had become a concern and priority, and drones were used to provide the essentials.

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Competitive Landscape

The market is highly fragmented with presence of established market players and introduction of new market participants. The players are taking favourable initiatives like service offering, merger & acquisition to expand their global presence and market share.

For instance :

• In November 2022, TechEagle drone delivery has initiated first ever vaccine delivery service for animal husbandry in Arunachal Pradesh, India.

• In September 2022, Airborne Response, one of the leading mission critical aerial intelligence drone service has acquired Safe Pro Group Inc.

Key Companies Profiled:

• AeroDyne
• AiriNov
• Azur Drones
• Bentley Systems
• CyberHawk
• Deveron UAS
• Flirtey
• FlyTrex
• Hemav
• Martek Marine
• Matternet
• Measure
• Raptor Maps
• Sharper Shape

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Key Segments:

• By Application :

o Mapping & Surveying
o Inspection
o Photography & Filming
o Localization & Detection
o Delivery
o Spraying & Seeding
o Others (Not Covered Elsewhere)

• By End-use Industry :

o Energy
o Construction
o Transportation & Warehouse
o Agriculture
o Mining, Oil & Gas Extraction
o Public Administration
o Information
o Real Estate & Industrial Plant
o Entertainment & Recreational
o Safety & Security
o Educational Services
o Waste Management
o Healthcare & Insurance

• By Region :

o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

Questionnaire answered in the report include:

• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?

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This release was published on openPR.