Global Commercial Drones Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type (Fixed Wing, Rotary, and Hybrid), Mode of Operation (Remotely Operated, Semi-Autonomous, and Autonomous), Applications (Mapping & Surveying, Precision Agriculture, Filming & Photography, Inspection & Maintenance,), and Region (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa (LAMEA))

Market Overview

Drones usually termed unmanned aerial vehicles (UAVs) or unmanned aircraft systems, is a gliding humanoid that can be controlled manually or autonomously by software-controlled flight plans in their embedded systems, which interlink with inbuilt sensors and a navigation system (GPS). They are used in several sectors, including inspections, monitoring and management, surveying and aerial mapping, construction, photography, and videography. Commercial use of drones mainly provides, many perks to operators, such as increased work efficiency and productivity, reduce workload and production cost, and improve accuracy and precision.

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.

• 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.

Scope of the Report

The Global Commercial Drones 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.

Key Trends by Market Segment

By Type:  TheRotary 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.

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.

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.

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.

Key Topics Covered in the Report

• Snapshot of the Global Commercial Drones Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Commercial Drones Market
• Historic Growth of the Overall Global Commercial Drones Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Commercial Drones Industry
• Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
• Covid-19 Impact on the Overall Global Commercial Drones Market
• Future Market Forecast and Growth Rates of the Total Global Commercial Drones Market and by Segments
• Market Size of Product Type, Application, and End User Segments with Historical CAGR and Future Forecasts
• Analysis of the Global Commercial Drones Market
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region

Key Companies Covered in the Report

• AeroVironment Inc.
• SZ DJI Technology Co., Ltd.
• Parrot SA
• AgEagle Aerial Systems Inc
• Insitu Inc.
• Yuneec International CO. Ltd
• Autel Robotics
• Delair
• Ehang Holdings Limited
• Aerialtronics

Notable Emerging Companies Mentioned in the Report

• Dedrone
• DroneSense, Inc.
• Airobotics
• Freefly Systems
• Uvify Inc.
• Hubsan
• Leptron Unmanned Aircraft Systems, Inc.
• Skydio, Inc.

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Drones Manufacturers
• Drone Components Manufacturers
• Hardware Companies
• Drone Solution Service Providers
• Aerospace Equipment Companies
• AI Solution Providers
• Technology and Software Providers
• Federal Aviation Administration (FAA)
• Government Ministries and Departments of Aerospace
• Government Ministries and Departments of Defense
• Government Ministries and Departments of Inland Security
• Aerospace and Defense Research Institutes
• PE/VC Firms focused on Aerospace and Defense Sector
• Sensors and Cameras Manufacturers

Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022-2028F

Frequently Asked Questions

• What is the Study Period of this Market Report?

The Global Commercial Drones Market is covered from 2017-2028 in this report, including a forecast for 2022-2028.

• What is the Future Growth Rate of the Global Commercial Drones Market?

The Global Commercial Drones Market is expected to witness a CAGR of about ~15% over the next 6 years.

• What are the Key Factors Driving the Global Commercial Drones Market?

The advancement of remote sensing and surveillance technologies, such as automatic dependent surveillance-broadcast (ADS-B).

• Which is the Largest Application Segment within the Global Commercial Drones Market?

The filming & photography segment held the largest share of the Global Commercial Drones Market in 2021.

• Who are the Key Players in the Global Commercial Drones Market?

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 other are the major companies operating in Global Commercial Drones Market.