Commercial Drone Market to Surpass 62.54 Billion by 2030 Drives Due to Increase in Adoption of Unmanned Aerial Vehicles
SkyQuest projects that the commercial drone market will attain a USD 62.54 billion value by 2030, with a CAGR of 28.58% over the forecast period (2023-2030). Significant technological advancements in electronics, including processors, microcontrollers, mobile hardware, modern computing, and cameras, have led to a remarkable transformation in the product line of commercial drones. These advancements have resulted in the development of more sophisticated drones with enhanced features and capabilities.
Westford USA, June 26, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the commercial applications of small uncrewed aerial vehicles (UAVs) are witnessing a significant increase in adoption, driving the commercial drone market’s growth. These versatile UAVs are being utilized in various industries for various applications. One of the prominent sectors embracing small UAVs is filmmaking, where drones enable capturing stunning aerial shots and cinematography.
Browse in-depth TOC on “Commercial Drone Market.”
- Pages – 242
- Tables – 66
- Figures – 75
A drone also called an uncrewed aerial vehicle (UAV), is equipped with cameras and sensors. This technology has garnered significant attention across various industries, leading to increased investments and a growing focus on exploring the commercial applications of drones. Businesses from diverse sectors actively invest in commercial drone technology and expand their knowledge and understanding of its potential applications, which is expected to impact the business landscape positively.
Prominent Players in Commercial Drone Market
- DJI
- Parrot SA
- Yuneec International Co. Ltd
- AeroVironment, Inc.
- 3D Robotics, Inc.
- PrecisionHawk, Inc.
- Autel Robotics
- senseFly SA
- GoPro, Inc.
- Ehang Inc.
- Kespry Inc.
- Insitu Inc.
- Aeryon Labs Inc.
- Aibotix GmbH
- Aeronavics Ltd.
- Cyberhawk Innovations Ltd.
- Flyability
- Gryphon Dynamics
- Altavian, Inc.
- Freefly Systems Inc.
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Rotary Blade Segment is Expected to Grow the Market Due to their Unique Ability to Hover
The rotary blade category emerged as the market leader, holding the maximum market share, and is expected to maintain its dominance throughout the forecast period. This category includes drones with rotary or spinning blades that provide vertical take-off and landing capabilities. These drones have gained popularity, especially in inspection tasks, due to their unique ability to hover and maneuver precisely while maintaining a steady visual focus on a specific target for extended periods.
The market in North America continues to dominate the commercial drone market, and this trend is anticipated to persist throughout the forecast period. The market can be attributed to the increasing demand from businesses for drones’ valuable data and insights. The versatility and capabilities of commercial drones make them an indispensable tool for various industries, including agriculture, construction, infrastructure inspection, and aerial surveying.
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Film and Photography Segment is Expected to Dominate the Market Due to the Increasing Adoption of Drones
The film and photography sector is expected to maintain its dominant position in the market throughout the forecast period. The increasing adoption of drones in this sector has become crucial for photographers seeking a competitive edge and has rapidly become an essential tool in professional photography.
Regional markets in the Asia-Pacific region are projected to exhibit the highest CAGR in the global commercial drone market during the forecast period. This region is witnessing a significant expansion in the adoption and demand for commercial drones, primarily driven by the presence of developing economies such as South Korea, Japan, India, and China.
A comprehensive analysis of the major players in the commercial drone market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Commercial Drone Market
- The US Federal Aviation Administration (FAA) recently granted Declarations of Compliance for seven new drone models developed by DJI, a prominent China-based civilian drones and imaging technology provider. This approval signifies the FAA’s recognition of DJI’s adherence to safety and regulatory standards, allowing the company to continue offering its advanced drone technology in the market.
- Saudi Arabia and a significant telecommunications organization collaborated to promote innovation in commercial drones in 2022. The King Abdulaziz City for Science and Technology and Zain Saudi Arabia signed a memorandum of understanding outlining their cooperation in the research and development of drone technology. This partnership aims to foster advancements in the drone industry, enabling the deployment of drones for various commercial applications in Saudi Arabia.
Key Questions Answered in Commercial Drone Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
Related Reports in SkyQuest’s Library:
Global Drone Logistics And Transportation Market
Global 3D-Printed Houses Market
Global Flexible Batteries Market
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