Global Commercial Drones Market Report and Forecast 2023-2028

Global Commercial Drones Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global commercial drones market reached a value of USD 30.6 billion in 2022. Aided by the escalating demand for aerial data and the diversifying use-cases of drones across multiple sectors, the market is projected to further grow at a CAGR of 35.2% between 2023 and 2028 to reach a value of USD 195.1 billion by 2028.

Commercial drones, also known as Unmanned Aerial Vehicles (UAVs), have rapidly transformed from mere recreational gadgets to indispensable tools across a plethora of industries. Characterised by their versatility, these flying devices are equipped with cameras, sensors, and sometimes, delivery mechanisms, enabling a broad spectrum of applications, ranging from surveillance and photography to logistics and agriculture.

A significant propellant for the commercial drones market growth is the burgeoning demand for real-time, high-resolution data. In industries such as agriculture, drones are used for precision farming, helping farmers monitor crop health, estimate yields, and optimise resource usage. The real estate sector, on the other hand, utilises drones for aerial photography, facilitating immersive property showcases.

Furthermore, the paradigm shift towards e-commerce and the need for swift deliveries present a colossal opportunity for drones. Companies, in their bid to achieve logistical excellence, are experimenting with drone deliveries, ensuring faster transit times and reduced human intervention.

However, the applicability of commercial drones is not limited to just the aforementioned sectors. The media and entertainment sector is generating a significant commercial drones market demand. News agencies deploy drones for live coverage, while energy companies harness their potential for infrastructure inspection. Additionally, with the technological advancements in Artificial Intelligence and Machine Learning, drones are now capable of executing complex tasks, such as detailed inspections, 3D mapping, and even search and rescue operations.

Moreover, significant investments in research and development are leading to the advent of drones with longer flight times, better payloads, and enhanced data processing capabilities. Simultaneously, educational institutions and industry bodies are offering courses and certifications in drone operations, addressing the skill-gap and fostering a new generation of drone enthusiasts. In geographical terms, North America holds a significant portion of the commercial drones market share, owing to the robust expansion of enterprises across strong economies such as the United States of America.

Market Segmentation

The market can be divided based on product type, application, end use, and region.

Market Breakup by Product Type

• Fixed Wing
• Rotary Blade
• Hybrid

Market Breakup by Application

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

Market Breakup by End Use

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

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global commercial drones market. Some of the major players explored in the report by Expert Market Research are as follows:

• Aeronavics Ltd.
• AeroVironment, Inc.
• Autel Robotics
• SZ DJI Technology Co., Ltd.
• Draganfly Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.