Commercial Drone Market Growth 2024, Industry Size, Top Companies, Sales Analysis, Forecast 2032

IMARC Group, a leading market research company, has recently releases report titled "Commercial Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" The global commercial drones market size reached US$ 26.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 148.1 Billion by 2032, exhibiting a growth rate (CAGR) of 20.47% during 2024-2032.

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Factors Affecting the Growth of the Commercial Drones Industry:

• Technological Advancements:

Improvements in extended battery life, enhanced sensors, and advanced software capabilities of commercial drones are supporting the market growth. An extended battery life allows drones to operate for more extended periods, making them suitable for tasks that require extended flight times, such as aerial surveys, monitoring, or even package delivery. Besides this, improved sensors, including high-resolution cameras and light detection and ranging (LiDAR) technology, enhance the quality and precision of data collection. Advanced software capabilities, such as autonomous flight, route planning, and data analytics, increase the efficiency and effectiveness of drone operations.

• Rising Focus on Cost-Efficiency:

The increasing utilization of commercial drones, as they are cost-effective, is bolstering the growth of the market. In line with this, drones offer cost-effective solutions for a wide range of tasks, reducing the expenses associated with traditional methods. Furthermore, in the agriculture sector, drones can monitor crop health and identify areas needing attention, leading to more efficient use of resources and increased yields. In the construction industry, drones can perform site inspections and surveying, eliminating the need for expensive manned flights or ground-based equipment. Additionally, drones are increasingly used in logistics for last-mile delivery, reducing delivery costs for e-commerce companies.

• Increasing Need for Security and Surveillance:

The growing requirement of commercial drones for enhanced security and surveillance is offering a positive market outlook. Apart from this, drones can provide real-time aerial perspectives and offer a flexible solution for monitoring large areas and enhancing situational awareness. They are equipped with high-resolution cameras and thermal imaging technology that allow them to cover ground, making them valuable for border security, event surveillance, and disaster response. Their agility makes them ideal for gathering critical information without endangering human lives. Moreover, drones can reach challenging or hazardous locations, ensuring comprehensive security coverage.

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Key Players Operating in the Global Commercial Drones Industry:

• Aeronavics Ltd.
• AeroVironment Inc.
• Autel Robotics
• Delair
• Insitu Inc. (The Boeing Company)
• Leptron Unmanned Aircraft Systems Inc.
• PrecisionHawk Inc.
• SenseFly (AgEagle Aerial Sys)
• Skydio Inc
• SZ DJI Technology Co. Ltd. (iFlight Technology Company Limited)
• Yuneec International

Commercial Drones Market Report Segmentation:

By System:

Hardware
Airframe
Propulsion System
Payloads
Others
Software

Hardware accounts for the majority of the market share, which can be attributed to the rising focus on enhanced reliability and performance.       

By Product:

Fixed Wing
Rotary Blade
Hybrid

On the basis of the product, the market has been divided into fixed wing, rotary blade, and hybrid.

By Mode of Operation:

Remotely Operated
Semi-Autonomous
Autonomous

Remotely operated exhibit a clear dominance in the market due to the escalating demand for real-time decision-making through live video feeds and data transmission.  

By Application:

Filming and Photography
Inspection and Maintenance
Mapping and Surveying
Precision Agriculture
Surveillance and Monitoring
Others

Filming and photography hold the biggest market share on account of the increasing need for memorable and panoramic shots.      

By End Use:

Agriculture
Delivery and Logistics
Energy
Media and Entertainment
Real Estate and Construction
Security and Law Enforcement
Others

Media and entertainment dominate the market share, which can be accredited to the rising focus on visually appealing content.       

Regional Insights:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

North America enjoys the leading position in the commercial drones market as it has a presence of key drone manufacturers and software developers.           

Global Commercial Drones Market Trends:

The increasing adoption of commercial drones to collect vast amounts of data quickly and efficiently is supporting the growth of the market. In line with this, companies can leverage this data for analytics, gaining valuable insights into their operations, optimizing decision-making processes, and improving overall efficiency.     

The growing demand for commercial drones due to rising environmental sustainability is offering a positive market outlook. Furthermore, drones can help reduce the need for traditional, resource-intensive methods, such as manned aircraft or ground vehicles, contributing to lower carbon footprints.

Other Key Points Covered in the Report:

COVID-19 Impact
Porters Five Forces Analysis
Value Chain Analysis
Strategic Recommendations

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This release was published on openPR.