Commercial Drone Market Overview:
The growing adoption of smartphones, rising demand for aerial services, and increased demand for drone services from various sectors would supplement the growth of commercial drone market. Leading players are aiming to explore new technologies and applications to meet the growing demands of customers. Collaborations and acquisitions would enable them to enhance their product portfolios and expand into different geographies. Emerging economies would provide opportunity for growth and expansion. Vendors are developing specialized solutions for small and medium-sized businesses to meet their specific business requirements.
Stringent government regulations regarding national security and satellite imagery as a substitute option are expected to hamper the commercial drone market growth. Another possible restraint is the increasing adoption of satellite imagery that can limit the growth of commercial drone market.
The report covers the study of the commercial drones market, focusing on three types of products including fixed wing drones, rotary drones, and hybrid drones. The commercial drones market is divided into six major sectors according to their application, which include agriculture & environment, media & entertainment, energy, government, construction & archaeology, and others. The report also covers key trends and opportunities of drone products across various geographical regions including North America (U.S., Canada, Mexico), Europe (UK, France, Germany, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa). The drivers, restraints, and opportunities present in the market are explained in the report along with the analysis of their impact. The report describes key strategies adopted by market leaders to facilitate effective planning for the growth and development of the commercial drone market.
Key Market Segmentation
Source: Primary Research, Secondary Research, and AMR Analysis
Top Impacting Factors
Prominent factors affecting the world commercial drone market include technologically advanced products, privacy and security concerns, rising demands of high resolution satellite imagery, and research & development initiatives. Majority of these factors have led to increase in adoption of commercial drones across different parts of the world.
Top impacting factors for world commercial drone market are elaborated below:
Top Impacting Factors
Source: Primary & Secondary Research and AMR Analysis
Technologically Advanced Products
Digitization and technological advancements in camera, drone specifications, mapping software, multidimensional mapping, and sensory applications are expected to fuel the commercial drone market growth during the forecast period. Persistent innovations in the market and emergence of technologically advanced products, such as Mavic Pro by SZ DJI Technology Co., Ltd.; Hero5 camera by GoPro, Inc.; SPECTRO XR (Extra Range), a multispectral electro-optic system by Elbit Systems Ltd.; and M-19HD by Israel Aerospace Industries Ltd. launched by industry players, have increased the demand for the drone market in the recent years.
Privacy and Security Concerns
Privacy issues and national security regulations are expected to negatively affect the market in the coming years. Aerial services sometimes require filming and photography in civilian areas, which affects the privacy of people. Most of the countries in Asia-Pacific and the Middle East do not have effective rules for aerial imaging & mapping services. On the contrary, countries such as the U.S. and U.K. have regulations specified for aerial services, but there is a lack of clarity and implementation in the regulatory framework, which would negatively affect the commercial drone market growth.
High-Resolution Satellite Imagery as a Substitute
Earlier, satellite imagery was a costly proposition, but now companies focus on developing technologically advanced, high precision, and cost effective imagery solutions. One such example is the WorldView-3 satellite by DigitalGlobe, which offers high definition panchromatic images. Satellites can perform services such as mapping, GIS, LiDAR, surveillance, and others. Additionally, satellite services do not have any regulatory issues as opposed to aerial imagery, thus negatively affecting the commercial drone market share during the forecast period.
Increased Application Areas for GIS, LiDAR, Mapping Services, and Others
Increase in demand for GIS, LiDAR, and mapping services from various sectors such as agriculture, energy, tourism, and others fuels the commercial drone market growth. The agriculture sector is experiencing effective changes in yield production, enhanced crop health management, and improved soil condition with the implementation of LiDAR, GIS, and other mapping services. Real estate and civil engineering sectors are advancing in terms of new technology adoption such as multidimensional modeling, architectural planning, and monitoring civil engineering projects. Additionally, drones are used for various purposes, including research & exploration, archeological surveys, mining, cargo management, telecom network management, oil & gas resource management, and others. The rise in application areas is expected to boost commercial drone market growth during the forecast period.
- The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global commercial drones market.
- Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets of the market.
- Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.
- The quantitative analysis of the market through 2014-2022 is provided to elaborate the market potential.
Commercial Drone Market Key Segments
- Fixed wing drones
- Rotary bade drones
- Hybrid drones segment
- Agriculture and Environment
- Media and Entertainment
- Construction & Archaeology
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Players Profiled in the Report
- AeroVironment, Inc.
- SZ DJI Technology Co., Ltd.
- Parrot SA
- 3D Robotics, Inc.
- Leptron Unmanned Aircraft Systems, Inc.
- PrecisionHawk Inc.
- Yuneec International Co. Ltd.
- Aeryon Labs Inc.
- Trimble Navigation Ltd.
- Insitu Inc.
Other Market Players Mentioned in the Report
senseFly, Dragany Innovations, Xiaomi Inc., Sentera, LLC, General Electric Co., Quadrocopter, Identified Technologies, and others.