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Commercial Drone Market to Exhibit a CAGR of 25.39% by 2028; Increasing Focus on Adoption of Artificial Intelligence Technology to Stoke Demand

June 10, 2021 | Aerospace & Defense

The global commercial drone market size is expected to gain traction by reaching USD 11,295.1 million by 2028. Fortune Business Insights in its report, titled “Commercial Drone Market Size, Share & COVID-19 Impact Analysis, By Product (Fixed Wing, Rotary Wing, and Hybrid Multirotor), By System (Hardware (Airframe, Propulsion System, Payloads, and Others) and Software), By Technology (Fully Autonomous, Semi-autonomous, and Remote Operated), By Application (Filming & Photography, Horticulture and Agricultu45re, Inspection and Maintenance, Mapping and Surveying, Surveillance & Monitoring, Delivery and logistic, and Others), and Regional Forecast, 2021-2028.”, mentions that the market stood at USD 1,915.0 million in 2020 and is projected to exhibit an exceptional CAGR of 25.39% between 2021 and 2028. Factors such as the increasing adoption of modern technologies such as artificial intelligence will favor the demand for the product across the globe.


Heliguy Collaborates with Drone Survey School to Introduce Specialist Surveying Course


In August 2020, Heliguy announced its collaboration with Peter Franken of Drone Survey School. Peter is a specialist in conducting drone survey training. The collaboration is aimed at providing an innovative specialist drone surveying course to aid professionals conduct consistent and accurate surveys. The three-day training course is expected to provide theoretical knowledge and inform how drone technology can be leveraged to undertake aerial mapping missions. The course can be undertaken by anyone who plans to undertake aerial surveys through drones. Such initiatives by the companies are expected to bode well for the growth of the market for these drones during the forecast period.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/commercial-drone-market-102171


Increasing Focus on Adoption of Artificial Intelligence Technology to Spur Demand


The availability of large amounts of information and data obtained from several data points is propelling the manufacturers to adopt modern technologies such as artificial intelligence (AI) and machine learning. The AI technology aids in the management and storage of large amounts of data leading to the enhanced performance of UAVs globally. For instance, in October 2020, DJI, the China-based drone manufacturer, announced the integration of first-ever integrated LiDAR drone solution known as DJI Zenmuse L1 for efficient aerial surveying. Moreover, other manufacturers are developing AI-based advanced drones to cater to the growing demand for industrial applications. These factors are likely to contribute to the global commercial drone market growth in the forthcoming years.


Key Players Focus on Joint Ventures to Amplify Their Market Positions


The market is fragmented by the presence of key players that are striving to maintain their presence by focusing on joint ventures to develop advanced commercial drones to cater to the rising demand from end-user applications. Other key players are adopting strategies such as collaboration, partnership and facility expansion that will bode well for the growth of the market in the forthcoming years.


Industry Development:



  • August 2020 – Volansi, a California-based company, secured a new agreement from the U.S. Department of Transport to collect information on drone delivery programs for transportation infrastructure and regulations. The company is expected to collaborate with the Federal Aviation Administration (FAA).


List of the Companies Operating in the Global Market:



  • 3D Robotics, Inc. (The U.S.) 

  • Aeronavics Ltd. (New Zealand)

  • AeroVironment Inc. (The U.S.)

  • Autel Robotics (China)

  • Draganfly Innovations Inc. (Canada)

  • Ehang (China)

  • FLIR Systems, Inc. (The U.S.)

  • GoPro, Inc. (The U.S.)

  • Holy Stone (China)

  • Intel Corporation (The U.S.)

  • Kespry Inc. (The U.S.)

  • Parrot Drones SAS (France)

  • PrecisionHawk, Inc. (The U.S.) 

  • SenseFly SA (Switzerland)

  • Skydio, Inc. (The U.S.)

  • SZ DJI Technology Co., Ltd. (China)

  • Yuneec Holding Ltd (China)


Further Report Findings:



  • North America is expected to remain at the forefront and hold the largest global commercial drone market share in the forthcoming years. This is owing to the surging demand for drones for several industrial purposes in countries such as the U.S. North America stood at USD 730.0 million in 2020.

  • The market in Asia-Pacific is anticipated to showcase significant growth owing to the increasing investment by the companies to develop advanced commercial drones between 2021 and 2028.

  • Based on product, the fixed-wing segment held a market share of about 16.47% in 2020 and is expected to experience significant growth in the forthcoming years. This is attributable to the growing demand for fixed-wing drones for agriculture and surveillance purposes worldwide.


Table of Segmentation:


















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Million)



Segmentation



  Product; Technology; System; Application and Geography



By Product



  • Fixed Wing

  • Rotary Wing

  • Hybrid Multirotor



By Technology



  • Fully Autonomous

  • Semi-autonomous

  • Remote Operated



By System



  • Hardware

    • Airframe

    • Propulsion System

    • Payload

    • Others





  • Software



By Application



  • Filming & Photography

  • Horticulture and Agriculture

  • Inspection and Maintenance

  • Mapping and Surveying

  • Surveillance & Monitoring

  • Delivery and logistic

  • Others



By Geography


 




  • North America (By Product, Technology, System, Application, and Country)

    • The U.S. (By Product)

    • Canada (By Product)



  • Europe (By Product, Technology, System, Application, and Country)

    • The U.K. (By Product)

    • Germany (By Product)

    • France (By Product)

    • Italy (By Product)

    • Spain (By Product)

    • Rest of Europe (By Product)



  • Asia Pacific (By Product, Technology, System, Application, and Country)

    • China (By Product)

    • India (By Product)

    • Japan (By Product)

    • Australia (By Product)

    • Rest of Asia Pacific (By Product)



  • Rest of the World (By Product, Technology, System, Application, and Sub-Region)

    • The Middle East & Africa (By Product)

    • Latin America (By Product)




Commercial Drone Market
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  • 2017-2019
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