The global commercial drone market size would touch USD 129.23 billion by 2025. Further, the market is projected to expand at over 56% CAGR from 2019 to 2025. Increasing application of commercial drones such as agriculture, real estate, construction, photography and entertainment is driving the market growth.
Drones can easily reach the places where human reach is a difficult task. In addition, UAVs can be equipped with cameras and sensors, thus, facilitating difficult tasks in agriculture and security. Further, various hardware component required for drone operation has become affordable, thereby, leading to increased adoption.
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In the recent past, there has been significant improvement in the battery life of drones. In addition, government regulations have attributed to the higher degree of autonomy to the drones. Owing to these factors, drone applications have increased in commercial sectors.
Based on the product, the rotary blade segment is projected to grow at a considerable pace over the next six years. Increasing applications of these drones in photography and filming is attributing to the growth of the segment. These drones can provide easy manoeuvring in compact places.
North America held the largest share in the market owing to supportive government regulations by the federal bodies. In addition, the region is also witnessing significant adoption of commercial drones in delivery services, which is estimated to prove vital in the long run.
Further key findings from the report suggest:
• Based on the product, the rotary blade segment is projected to expand at 55% CAGR from 2019 to 2025.
• By application, the agriculture division is likely to exhibit over 60% CAGR from 2019 to 2025.
• North America, owing to favorable government regulations, held the largest share in the commercial drone market.
• Technical advancements have paved the way for the introduction of machine vision and artificial intelligence in drone operations.
Global Commercial Drone Market: Key Players
Xiaomi, 3D Robotics, DJI, AeroVironment Inc., EHANG and INSITU
Impact of COVID-19
The COVID-19 outbreak has positively affected the commercial drones market. The pandemic has forced people to maintain social distance, where the use of drones has surged to combat the pandemics. The epicenter of the pandemic, Wuhan, drone were used in order to deliver medical essentials, which reduced the direct exposure to medical staff. Further, drones were used to check the temperature in a bid to slow the spread of coronavirus. In addition, drones adoption in various other applications such as surveillance, surveying, broadcasting, and delivery necessary items including food has increased to avoid people to people contact.
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