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The global commercial drone market size was valued at USD 8.77 billion in 2022. Fortune Business Insights™ in its report titled “Commercial Drone Market Size, Share & COVID-19 Impact Analysis, By Weight (<2 Kg, 2 Kg – 25 Kg, and 25 Kg – 150 Kg), By System (Hardware (Airframe, Propulsion System, Payload, and Others) and Software), By Technology (Fully Autonomous, Semi-autonomous, and Remote Operated), By Application (Filming & Photography, Horticulture and Agriculture, Inspection and Maintenance, Mapping and Surveying, Surveillance & Monitoring, Delivery and Logistics, and Others), and Regional Forecast, 2023– 2030” observes that the market is projected to grow from USD 10.98 billion in 2023 to USD 54.81 billion by 2030, exhibiting a CAGR of 25.82% during the forecast period. Drones are ideal for the quasi-static positioning of advanced sensors in 3D space with high precision. Moreover, they enable precise flight control and operations even in poor weather conditions owing to their maneuverability and ability to fly at a low speed. As a result, there is a growing interest in drone deployment for infrastructure inspection, photogrammetric surveys, and forest monitoring based on remote sensing facility. These factors are responsible for market proliferation in the coming years.
U.S. Department of Defense and Indian Ministry of Defense Signed an Agreement to Co-Develop Air-Launched Drones
In September 2021, the U.S. Department of Defense and the Indian Ministry of Defense signed a Project Agreement (PA) for Air-Launched Unmanned Aerial Vehicle (ALUAV) under the Joint Working Group Air Systems in the Defense Technology and Trade Initiative (DTTI). This agreement will help strengthen defense technology collaborations between the two countries. The primary aim of DTTI is to promote a collaborative technology exchange and create opportunities for co-development and co-production of future technologies for Indian and U.S. military forces. The agreement also outlines the collaboration between Indian Air Force, Air Force Research Laboratory, and DRDO to focus on the development, design, demonstration, and evaluation of systems to co-develop an ALUAV Prototype.
Increasing Usage of Drones in Various Applications Boosted Market Expansion Amid the Pandemic
The demand for commercial drones escalated substantially during the COVID-19 pandemic. The spread of the virus encouraged government agencies to make efforts to enhance basic medical facilities, hospital infrastructure, and health facilities worldwide. Moreover, social distancing norms and lockdowns were imposed to prevent the spread of the virus. Recently, several industries worldwide have started using drones to perform important operations successfully. Leading players are designing and developing lightweight drones for various commercial applications such as inspection & maintenance, medical emergency transportation, filming & photography, surveillance & monitoring, mapping & surveying, and precision agriculture. The rising usage of drones in different sectors aided market expansion during the outbreak
Surging Demand for Smaller Drones from Power Generation, Logistics, and Oil and Gas Sectors to Aid Market Growth
The rising adoption of small UAVs for different applications such as relief & rescue operation, filmmaking, law & enforcement, logistics & transportation, agriculture, wildlife monitoring, disaster management, aerial photography, research & development, entertainment, and construction will boost the commercial drone market growth.
Several companies are extensively adopting small drones for numerous commercial projects. Few key commercial applications of drones include inspection, in-depth project maintenance, and oil pipeline & transmission cable inspection. The rising demand for small drones in the energy, oil & gas, and power generation sector will aid market expansion in the upcoming years. Moreover, small drones are also increasingly used by logistics and delivery service providers such as DHL, UPS, and FedEx for home delivery services, thus contributing to market progression.
On the other hand, the lack of uniform air traffic management, skilled operators, and adequate infrastructure will hinder market augmentation in the forthcoming years.
Product Launches by Industry Players to Propel Market Progression
Renowned players are focused on integration of advanced technologies, product launches, mergers and acquisitions, and partnerships to strengthen their foothold in the forthcoming years. For instance, in September 2022, DJI introduced the DJI Mavic 3 Enterprise, a versatile and lightweight entry-level enterprise drone designed for commercial use. The company also gave a first look of the same in collaboration with Drone Nerds at the latter’s Commercial UAV Roadshow, held North Miami.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/commercial-drone-market-102171
Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2020-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 25.82% from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | By Weight
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By Technology
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By System
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By Application
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| By Geography
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