Global Commercial Drone Market - 2022-2029

Global Commercial Drone Market - 2022-2029

Market Overview

The global commercial drone market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% within the forecast period (2022-2029).

A commercial drone, also known as an unmanned aerial vehicle (UAV), is an aircraft operated without a human pilot on board. These drones are typically used for various commercial and industrial applications, such as aerial photography, surveying, inspection, delivery, and more.

Commercial drones come in various sizes and shapes, from small, lightweight quadcopters to larger, fixed-wing aircraft. They are typically equipped with various sensors and cameras, allowing them to capture high-resolution images and videos and gather other data types, such as temperature, humidity, and air quality.

One of the key benefits of commercial drones is their ability to access areas that are difficult or dangerous for humans to reach, such as high-rise buildings, bridges, and industrial facilities. They can also be used to perform tasks that are too tedious or time-consuming for humans, such as monitoring large areas of land or inspecting pipelines.

Another advantage of commercial drones is their cost-effectiveness. In many cases, using a drone can be significantly less expensive than traditional data collection or inspection methods, such as hiring a helicopter or sending a team of workers to an isolated location.

Market Dynamics

The growing integration of advanced technology drives the commercial drone market.

The growing integration of advanced technology drives the commercial drone market

Integrating advanced technology plays a major role in boosting the commercial drone market. One of the key technologies driving this growth is the development of more powerful and sophisticated sensors and cameras. These sensors and cameras allow drones to capture high-resolution images and videos and gather other types of data, such as temperature, humidity, and air quality; this data can be used for various applications, such as aerial photography, surveying, inspection, and delivery.

Another key technology driving the commercial drone market growth is the development of more advanced flight control systems. These systems allow drones to be flown more accurately and efficiently, making them more suitable for a wider range of applications. For example, drones can now be programmed to fly specific routes and avoid obstacles, making them ideal for tasks such as inspection and delivery.

Integrating artificial intelligence (AI) and machine learning (ML) plays a major role in the commercial drone market. These technologies allow drones to make more intelligent decisions, such as identifying and avoiding obstacles and optimizing flight paths. Thus making drones even more versatile and efficient and opening up new possibilities for applications such as autonomous delivery.

The advances in drone technology make it easier for businesses and organizations to adopt drones. For example, cloud-based platforms and APIs enable easy integration of drone data into existing systems and platforms, making it possible for businesses to start using drones with minimal investment and setup.

High costs hamper the growth of the commercial drone market

The high cost of commercial drones is one of the biggest hurdles to market growth. While the cost of drones has decreased over time, they are still relatively expensive compared to other technologies, making it difficult for many businesses and organizations to justify the investment.

One of the main factors contributing to the high cost of commercial drones is the cost of the technology itself. Drones are equipped with a wide range of sophisticated sensors, cameras, and advanced flight control systems. These technologies are expensive to develop and manufacture, and this cost is passed on to the end user.

Another factor contributing to the high cost of commercial drones is the cost of maintenance and repair. Drones are complex machines that require regular maintenance and may be repaired or replaced if damaged. The factor mentioned above can be a significant additional cost for businesses and organizations already struggling to justify the cost of the drone itself.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the commercial drone market. The lockdowns and social distancing measures put in place to slow the spread of the virus have led to a slowdown in economic activity and a decline in investment in new technologies, which led to a reduction in demand for commercial drones, as businesses and organizations have been forced to cut costs and delay investments.

However, the pandemic has also created new opportunities for commercial drones. With many people unable to travel or gather in large groups, drones have been used to deliver goods and provide services remotely. For example, drones have been used for the contactless delivery of medical supplies, food, and other essential goods. Drones have also been used for remote inspections, such as inspecting power lines and oil rigs and monitoring the virus's spread.

Furthermore, the pandemic has accelerated the adoption of digital technologies, including drones. Businesses and organizations have been forced to find new ways of working, and drones have played a role in this by allowing them to access areas that are difficult or dangerous for humans to reach; this has helped to increase the demand for commercial drones and open up new opportunities for the drone industry.

Segment Analysis

The global commercial drone market is segmented by weight, technology, product, application, end-user and region.

Rotary blade commercial drones' ability to hover in place, which allows them to capture high-resolution images and videos, accelerated the segmental growth of the product

Based on product, the global commercial drone market is segmented into fixed-wing, rotary blade and hybrid. Out of the mentioned products, rotary blade holds a significant share in the global commercial drone market.

A rotary blade commercial drone, also known as a multirotor drone, is a type of unmanned aerial vehicle (UAV) powered by multiple rotors or propellers. These drones are characterized by their vertical takeoff and landing (VTOL) capability, which allows them to hover in place and move in any direction. Thus making them highly versatile and suitable for a wide range of applications.

One of the main advantages of rotary blade commercial drones is their ability to hover in place, which allows them to capture high-resolution images and videos and gather other types of data, such as temperature, humidity, and air quality which is particularly useful for applications such as aerial photography, surveying, and inspection.

Another advantage of rotary blade commercial drones is their compact size and lightweight design. These drones are typically small enough to be carried by a single person, making them easy to transport and deploy. They are also relatively quiet, making them suitable for urban use.

Geographical Analysis

Increasing adoption of digital technologies in Asia-Pacific is among the major factor driving the market of commercial drones in the region

The demand for commercial drones in Asia-Pacific is growing rapidly. The region is home to some of the world's largest and most dynamic economies. Businesses and organizations increasingly turn to drones to help them operate more efficiently and cost-effectively.

One of the main drivers of demand for commercial drones in Asia-Pacific is the increasing adoption of digital technologies. Countries such as China, Japan, and South Korea are at the forefront of technological innovation, and businesses and organizations in these countries are looking to drones to help them stay competitive. For example, drones are used in these countries for aerial photography, surveying, inspection, and delivery.

Another driver of demand for commercial drones in Asia-Pacific is improved infrastructure. The region is home to a rapidly growing population and an expanding middle class, leading to increased demand for better roads, bridges, power lines, and other infrastructure. Drones are used to help plan, build, and maintain this infrastructure, making the construction process more efficient and cost-effective.

The agriculture industry is also a significant market for commercial drones in Asia-Pacific. Drones can be used to map and survey fields, monitor crop health, and assist with spraying and fertilizing, which results in significant cost and time savings for farmers.

Competitive Landscape

The global commercial drone market is highly competitive with local and global key players. The key players contributing to the market's growth are SKYDIO, Leptron Unmanned Aircraft Systems, Inc., AeroVironment, Inc., DJI Technology Co., Ltd., Parrot SA, PrecisionHawk Inc., Yuneec International Co. Ltd., Aeryon Labs Inc., Delair, and Insitu Inc. among others.

The major companies are adopting several growth strategies, such as product launches, acquisitions and collaborations, contributing to the global growth of the commercial drone market.
• On 12 December 2022, Matternet Launched the world’s longest urban drone delivery route in Zurich, Switzerland, by connecting hospitals and laboratories.

DJI

Overview:DJI is headquartered in Shenzhen, China's Silicon Valley and has direct access to suppliers, raw materials and a youthful, creative talent pool essential for long-term success. The company has grown from a single modest office in 2006 to a global workforce. It now has offices in U.S., Germany, the Netherlands, Japan, South Korea, Beijing, Shanghai and Hong Kong.

DJI goods are currently altering sectors. Filmmakers, farmers, conservationists, search & rescue teams and energy infrastructure experts. DJI Agriculture has provided intelligent farming solutions to over 10 million professionals in over 30 countries.

Product Portfolio AGRAS T16: The Agras T16 has a better overall structure with a modular design that allows it to carry the most payload and spray width of any DJI agricultural drone. The T16 takes operational efficiency to new heights with strong hardware, an AI engine and 3D operation planning.

Key Development
• On 11 November 2020, The AGRAS T20 drone from DJI made agricultural spraying simpler, smarter and safer. From its detailed autonomous flight planning and terrain-sensing radar to its longer flight length, high payload capacity and off-the-grid charging options, the DJI AGRAS T20 is designed to work in the most difficult situations and agricultural fields.

Why Purchase the Report?
• Visualize the global commercial drone market segmentation by weight, technology, product, application, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the commercial drone market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global commercial drone market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global commercial drone market report would provide approximately 77 market data tables,79 figures and 201 pages.

Target Audience 2023
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