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Commercial Drone Market Size, Share & COVID-19 Impact Analysis, By Product (Fixed-wing, Rotary Wing and Hybrid Multi-rotor), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (Airframe, Payloads, Avionics, Propulsion, and Software), By Application (Aerial Photography, Agriculture, Disaster Relief & Management, Logistics, Surveillance & Inspection, Remote Sensing & Mapping) and Regional Forecasts, 2020-2027

Region : Global | Format: PDF | Report ID: FBI102171

 

KEY MARKET INSIGHTS

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The global commercial drone market size was valued at USD 1,590.9 million in 2019 and is projected to reach USD 8,527.4 million by 2027, exhibiting a CAGR of 25.07% during the forecast period.

COVID-19 Cover

This report covers COVID-19 impact analysis on Commercial Drone Market

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Drones are widely perceived as a gadget to capture attractive aerial photography and high definition videos for various applications around the world. Drone images and videos are widely required in commercial industries such as media, entertainment, and the surveillance industry. Growing awareness is also triggering the business outlook, which is gaining wide attention from investment companies in drone technology.


Some companies are investing in the new start-ups through well-funded strategic approaches to address the demand for drone’s portfolios such as air taxis, logistics, surveying, mapping, monitoring, and surveillance. Other applications include long-range surveillance, also called Beyond-Visual-Line-of-Sight (BOVSL). The advancement in recent years is primarily driving the demand due to important parameters such as lighter components, high battery energy, microprocessors, sensors, and lightweight structural materials. Thereby, it is expected to fuel market growth in the next few years.


Global Opportunities for Commercial Drone Industry During Covid-19 Health Crisis


In April 2020, the U.S. Department of Transportation held a meeting in North Carolina regarding the commercial use of cargo drones to deliver healthcare gear, PPE kits, and medicines. Key companies od Silicon Valley companies such as Zipline and Matternet already operated in North Carolina. Matternet team up with CVS to deliver prescribed medication to the 135,000 residents living in a retirement community by drones due to lockdown to prevent coronavirus spread.


In April 2020, the UK government announced plans to trail out drones for delivering food, medicines, and other help through drones. In the future, the trial will use petrol-fuelled fixed-wing drones with a capacity of 100 kg and 1000 km range. In Singapore, F-Drones company is the first company to receive authorization from the Civil Aviation Authority of Singapore (CAAS) for beyond-visual-line-of-sight (BVLOS) medicine deliveries to cargo ships. The drone shipped around Vitamins to the cargo ships to reduce direct human contact and reduce helicopter cost by 80% to 90% in an environment-friendly way.


LATEST TRENDS


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Successful integration of Artificial Intelligence Technology in Commercial Drones to drive market


An increase in demand for unmanned aerial vehicles (UAV) and its components due to high adoption in various industries is projected to spur market growth during the forecast period. The industry is experiencing major implantation for software, avionics, and other integrated concepts that provide accurate results. These drones are used widely in photography and mapping applications. The new advancement in camera and sensors will experience significant expansion in the future due to excellent development in their parts and components.


Recent technological advancement in electronics such as cameras, mobile hardware, processors, micro-controllers, and modern computing is modernizing the drone product portfolio. These developments are helping companies to produce and develop inbuilt measurement tools, annotation tools for calculating distance, volume, and area. Therefore, to manage a large amount of information and data collected from millions of data points, companies now require machine learning and artificial intelligence solutions to extract accurate results. Some companies are using the latest tools, which include automatic ground control points (GCP) processing using 150,000 images of targeted GCPs. These improvements by the manufacturing companies are expected to boost the market growth in the future years.


DRIVING FACTORS


The emergence of Drone Technology for Numerous Applications to drive market growth


The successful design for small remote-controlled aircraft has now become the most popular commercial industry from the past few years around the world. The commercial drone industry is strongly supporting the overall economic development of several countries in key sectors such as agriculture, construction & infrastructure, mining, surveying, and power generation. The industry has witnessed exponential development due to Extensive R&D efforts by the major players.


In which the development has brought down the cost of drones along with its components, hardware, software, and avionics. This has resulted in successful adoption in several applications such as surveying, aerial mapping, and precision agriculture. There is a need for real-time data analysis on the actual ground to understand the actual potential of projects that are driving the market expansion. Strongly supported by the huge investment from the major players such as DJI, Yuneec, and 3D Robotics are supporting the global business outlook. These factors are expected to fuel market expansion during the forecast period.


Launch of Innovative Products to Propel Market Growth


Technological developments in unmanned systems are expected to have a huge impact on the drone industry. In 2018, newly found company Skydio launched commercial drone R1 in the consumer market. The company has established a new standard with a competitive advantage on the commercial platform. In 2019, the company launched Skydio2, which got sold out on the same day. It was designed with the most advanced artificial intelligence system in the world with a Skydio Autonomy Engine. Also, Yuneec is one of the top leaders in the industry who have developed a new product to cater to high-quality service to customers in various countries. In 2018, the company launched Mantis Q a fully equipped with a voiced-control system. This newly launched product portfolio is projected to boot market growth in the future years.


RESTRAINING FACTORS


Limited Air Traffic Management and Stringent Regulations projected to Limit Market Adoption


Commercial drones are widely used across industries from the past few years, due to highly effective technology for various aerial applications. However, most companies are facing major concerns due to a lack of air traffic management by the aviation authorities in various countries. Many countries have implemented stringent regulations for flying drones near the airport air space and surroundings. Most countries are facing criticism regarding the violation of privacy and personal space via drone usage, mainly hampering commercial expansion.


The industry is also facing allegation safety concerns for drone operations due to improper handling and battery failure in numerous incidences. These cases are witnessing a strong requirement of skilled and professional operators from remote control devices. The damages are creating a heavy financial loss due to improper handling, which directly impacting the safety and security concerns across the regions. These factors are expected to hamper future growth during the forecast period.


SEGMENTATION


By Product Analysis


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Strong demand for Hybrid Multi-rotor Drones projected to grow at a Significant Rate in the Future.


Based on the product, the market includes fixed-wing, rotary-wing, and hybrid multi-rotor. The hybrid multi-rotor segment is projected to grow at the fastest rate during the forecast period. This product range is highly capable of vertical takeoff and landing at a very small space fuelling the demand across the globe. The drone requires the advance stabilization system for which can balance the payload movement during the flight time.


The requirement was dependent on accelerometers and gyroscope. However, the technological up-gradation and industrial development of the low-cost micro-electro-mechanical system are adopting in drone technology. The small high torque motors and powerful microcontroller benefits are highly integrated into these drones. Fixed-wing drones are widely expected to witness a strong demand due to advanced cameras, GPS, lightweight payloads, and avionics projected to drive market growth during the forecast period.


By application Analysis


Aerial Photography Application Segment Dominated the Market in 2019


Based on application, the market is segmented into aerial photography, agriculture, disaster relief & management, logistics, surveillance & inspection, remote sensing & mapping, and environment monitoring. The aerial photography application segment is projected to account for a large share during the forecast period. Growing demand for an aerial photo shoot in media, entertainment, and advertisement industry due to the emergence of social media platforms around the world anticipated driving industry expansion in the coming years.


Agriculture is one of the most prominent areas of innovation in which drones are likely to be used significantly across the world in the future years due to low-cost product portfolio advantages. Architects, engineers, and contractors are widely adopting small drones for real estate projects for site analysis to create 3-dimensional prospects for project completion. The new concept for image mapping is helping business to generate great results in various countries. These factors are projected to boost market growth during the forecast period.


By System Analysis


The software segment is Set to Register a Higher CAGR in Market during the Forecast Period


Based on the system, the market is segmented into software, avionics, propulsion, airframe, and payload. The software segment is expected to grow at a rapid pace in the market during the forecast period. The drone software is considered as the brain of the drone that can analyze and process the information in less time. The software majorly provides the maximum output through its advanced camera, sensors, GPS, and other tools. These can prevent damage from drones by battery failure in several cases. The modern drone software is capable of enabling backup power to the safe return of drones to the base stations in wide range operation. Aerial image mapping and real-time maps are majorly operated through the software tools to create an accurate 3D image for various applications by analyzing a million images. Hardware majors include payloads, propulsion, airframe and avionic according to the size. A rise in demand for modern unmanned aerial vehicles (UAVs) in several regions is expected to fuel the market at a rapid pace in the coming years.


By Technology Analysis


Fully Autonomous to Register a Higher CAGR in this Market of Commercial Drone during the Forecast Period


In terms of technology, the market is segmented into fully autonomous, semi-autonomous, and remote operated. The remotely operated segment is expected to have a dominant share in the market during the forecast period and expected to continue the leading position. The dominance is due to an increase in end users to operate wide range drones at easy flying techniques with the user-friendly mode is fuelling the demand around the world.


Remote operations are widely used for surveys, monitoring, and tracking applications in various industries. Therefore, in various countries, the increase in demand for the semi-autonomous drone is fuelling growth in a major application such as precision agriculture due to limited field range. These factors are projected to accelerate Commercial Drone market growth in the coming years.


REGIONAL INSIGHTS


North America Commercial Drone Market Size, 2019 (USD Million)

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North America held a major commercial drone market share in 2019 and projected to lead during the forecast period. The dominance of this region is attributable to the increasing demand from various industries and sectors in the U.S. and Canada. The U.S. has a strong presence of key players such as 3D Robotics (U.S.), Go Pro (U.S.), and Autel Robotics (U.S.) contributing to the regional revenue generation.


However, federal aviation administration faa restricted the use of these drones within the line of sight, which has still limited the growth of the North America market.


The market in Europe is expected to grow at a moderate CAGR owing to the rising demand for small drones, and mini drones in the region due to the prominent manufacturer and service providers in the region. Several countries have manufacturing facilities, service providers, and training centers, driving market expansion. The market in the Asia Pacific is expected to exhibit an exponential growth owing to the increasing operation and production companies across the region.


The regional growth is projected to continue at a rapid pace due to the wide potential and customer base in the region.  In addition to this, market players such as DJI, Yuneec, and Holy Stone in this region are making heavy investments, which in turn, will fuel demand for these drone. Latin America &the Middle East & Africa are analyzed for a comparatively lower share of the market owing to the increase in consumer awareness for drone use in the oil & gas industry.


KEY INDUSTRY PLAYERS


Strong Product Portfolio of DJI, Yuneec, and Parrot Drone is likely to lead the Market of Commercial Drones.


The commercial UAVs market is fragmented in nature owing to the strong product portfolio and remarkable distribution network of drone companies in developed and emerging countries. Currently, DJI (China), Yuneec (China), and Parrot Drone (France) are leading the market with a dominant revenue share in 2019. However, a lack of strong barriers and strong domestic demand is projected to increase in the number of domestic players in the future years. That is projected to witness a highly fragmented nature of the market by 2027 due to attractive competition among the global players.


Most companies are focusing on enhancing the product portfolio, attractive pricing strategy and marketing activities anticipated to boost revenue share in the next few years. Other key players such as AeroVironment Inc. (U.S.), SenseFly (Switzerland), Kespry (U.S.), 3D Robotics (U.S.), Go Pro (U.S.), and Autel Robotics (U.S.) and PrecisionHawk (U.S.) have also entered the market competition with wide commercial drone products. New development, innovation product launch, acquisition, partnership, and collaboration are some of the major strategies adopted by market players operating in the market. In 2019, the leading company DJI launched two new drones for the agriculture sector to support production output across the world. The new drone products include P4 Multispectral and Agras T16. Both products launched in Airwork’s conference in Los Angeles, the U.S.


LIST OF KEY COMPANIES PROFILED:



  • DJI (China)

  • Yuneec (China)

  •  Parrot Drone (France)

  • AeroVironment Inc. (U.S.)

  • SenseFly (Switzerland)

  • Kespry (U.S.)

  • 3D Robotics (U.S.)

  • Go Pro (U.S.)

  • Autel Robotics (U.S.)

  • PrecisionHawk (U.S.)

  • Holy Stone (Taiwan)

  • Other Players


KEY INDUSTRY DEVELOPMENTS:



  • June 2020 – China-based global leader DJI launched a new full drone range, handheld imaging system, and cost-effective LiDAR technology. The drone LiDAR is very economic and excellent in broad applications due to advancement and new development. It is designed for key applications such as autonomous operations in smart cities image mapping and mobile drone operations.

  • August 2020 – Heliguy Australia based drone company collaborated with training provider company for new surveying courses. The specialist in drone surveying will provide full support and professional help at the Drone Survey Fundamentals training course to the pilots.

  • August 2020 – Seattle based company Wibotic received final approval from the Federal Communication Commission (FCC) for the wireless drone charging technology. In June 2020, the company raised around US$ 5.7 million to develop wireless charging technology. This will enhance high power transmitters and receiver up to 300 watts with wireless power. It is capable enough to charge robots, drones, and industrial automation equipment.


REPORT COVERAGE


The commercial drone market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product.


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Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.


Report Scope & Segmentation














































  ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



By Product



  • Fixed Wing

  • Rotary Wing

  • Hybrid multi-rotor



By Application



  • Aerial Photography

  • Agriculture

  • Disaster relief & Management

  • Logistics

  • Surveillance &Inspection

  • Remote sensing & Mapping

  • Environment Monitoring.



By System



  • Software

  • Avionics

  • Propulsion

  • Airframe

  • Payload



By Technology



  • Fully Autonomous

  • Semi-Autonomous

  • Remote Operated



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, and Rest of Asia- Pacific)

  • Rest of World (Latin America, and the Middle East& Africa)



Frequently Asked Questions

Fortune Business Insights says that the global Commercial Drone market size was USD 1,590.9 Million in 2019 and is projected to reach USD 8,527.4 Million by 2027.

In 2019, the North America market value stood at USD 634.5 Million.

Growing at a CAGR of 25.07%, the market will exhibit steady growth in the forecast period (2020-2027).

The rotary-wing segment is expected to be the leading segment in this market during the forecast period.

Increasing demand for advanced cameras and low-cost products by commercial users are major factors driving the growth of the market.

DJI, Yuneec, and 3D Robotics., are major players of the global market.

North America dominated the market share in 2019.

Launch of advanced technologies by commercial UAVs market players like DJI, PrecisionHawk, and Parrot Drones, will aid the adoption of drones in the global market.

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