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Construction Drone Market to Soar with Expanding Market Size, Technological Innovations, and Strategic Market Insights Driving Growth
Construction Drone Market
As per the report, the construction drone market size has grown rapidly in recent years. It will grow from $6.01 billion in 2023 to $6.99 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The construction drone market size is expected to see rapid growth in the next few years. It will grow to $12.27 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%.
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Construction Drone Market Soars With The Surge In Rapid Urbanization
Rapid urbanization is expected to propel the growth of the construction drone market going forward. Urbanization refers to the process of increasing population in cities due to migration and the settlement of more people there than in rural areas. Increasing urbanization increases the need for residential and infrastructural construction, which increases the demand for construction drones as they are helpful in surveying and monitoring construction work. For instance, in 2022, according to the World Bank, a US-based financial institution, over 50% of the world's population are living in urban areas. The number is expected to increase by 1.5 times, to 6 billion, by 2045. Therefore, rapid urbanization is driving the growth of the construction drone market.
Smart Construction Drone Pioneering Precision In Production Tracking And Billing
Technological advancements are a key trend gaining popularity in the construction drone market. Major companies operating in the construction drone market are focused on developing new technological solutions to strengthen their position in the market. For instance, in December 2021, Komatsu, a Japan-based manufacturer of construction, forestry, mining, and industrial heavy equipment, launched the Smart Construction Drone tool to simplify production tracking and billing. It is integrating drones into its suite of job site technologies to enable contractors to analyze data throughout each project phase, tracking production and billing with precision. Contractors would gather and analyze data throughout each project phase with topographic surveys that would incorporate hundreds of thousands of data points. With the capability of taking photos from up to 400 feet above ground level or under bridge decks, the Smart Construction Drone can be used for pre-job verification or to keep stakeholders up-to-date.
The construction drone market covered in this report is segmented -
1) By Type: Fixed Wing Drones, Rotary Wing Drone
2) By Component: Solution, Services
3) By Application: Surveying, Inspection, Security And Surveillance, Disaster Recovery, Filming And Photography, Other Applications
4) By End User: Residential, Commercial, Industrial
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Major companies operating in the construction drone market report are Rheinmetall Canada Inc., Autodesk Inc., FLIR Systems Inc., Topcon Positioning Systems Inc., Altus Intelligence Inc., Parrot SA, Skyward Company, AeroVironment Inc., Quantix by AeroVironment Inc., Insitu Inc., Yuneec International Co. Ltd., Freefly Systems Inc., Microdrones GmbH, YellowScan Inc., Percepto Ltd., Airware Inc., Cyberhawk Innovations Ltd., Kespry Inc., Aerialtronics LLC., Skycatch Inc., Draganfly Inc., Delair Tech SAAS, Datumate Ltd., 3D Robotics Inc., Airobotics Ltd., DJI Enterprise Co. Ltd., senseFly Ltd., Flyability SA, Vigilant Aerospace Inc., Martek Aviation BA, PrecisionHawk Inc.
Contents of the report:
1. Executive Summary
2. Construction Drone Market Report Structure
3. Construction Drone Market Trends And Strategies
4. Construction Drone Market - Macro Economic Scenario
5. Construction Drone Market Size And Growth
…..
27. Construction Drone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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