Global Drone Market Description
A drone is an unmanned aerial vehicle. It is a component of an unmanned aircraft system, which includes adding a ground-based controller and a system of communications with the UAV. Multiple uses of drones are boosting the growth of the market at a rapid pace. The arena of the use of drones happens to be at a wider scale ranging from filmmaking, to education, to tourism to emergency response. The demand for the use of drones is witnessing its peak in the segment of real estate and construction. The ability of drones to survey lands, provide continuous and precise project notifications, improve safety, and prevent dangerous incidents on construction sites are boosting the growth of the market in this sector.
Global Drone Market Overview
It is estimated for the global drone market to witness a growth at a CAGR of 59.2% during the period 2021 to 2028.
The estimated market size of the global drones was USD 14.31 billion in the year 2020. The growth of the market is estimated to witness a rise owing to the increasing uses of business uses of these in various sectors in the recent period.
The market players of this segment are continuously engaged in new research and development in the sector in the form of designing, testing, and improving solutions for various markets.
Also, the increasing use of drones for security, surveillance, and monitoring in the sectors where there is high labour cost and an increasing crime rate is expected to boost the growth of the market at a tremendous rate.
The outbreak of the novel coronavirus has been a booster on the market of drones. The increased use of drones during various scenarios with the technology proving to be of immense assistance in difficult scenarios has stamped a positive impact on the growth of the market.
The introduction of advanced and modern technologies such as Artificial Intelligence and Machine Learning in the drone manufacturing segment has been proving to be a growth-changing scenario in the market for drones.
Global Drone Market Key Trends
The introduction of advanced 5G technology to boost the market growth
The global drone market is expected to witness lucrative growth with the advent of the 5G delivery model and the integration of cloud computing technology with the drone development process. The integration of 5G high-speed internet technology in the drones will enable the users to communicate in high demanding environments to perform operations such as media sharing, command and control, and autonomous flying.
Filmmaking and Entertainment to favour the growth of the market
The increasing use of drones in the arena of filmmaking for capturing precise frames in the best economical way is expected to boost the growth of the market. Clients from various sectors including resorts, hotels, tourist spots, public places, and amusement parks are demanding the use of drones for advertising through aerial photography and this factor is increasing the need for drones in the market.
Global Drone Market Segment Assessment
Segment assessment by Product Type
Fixed-wing
Rotary Blade
Hybrid
Segment assessment by Application Type
Filming & Photography
Mapping & Surveying
Inspection & Maintenance
Surveillance & Monitoring
Precision Agriculture and others
Segment assessment by End-Use
Real Estate & Construction
Media & Entertainment
Security & Law Enforcement
Agriculture
Delivery & Logistics
Energy
Global Drone Market Geographical Landscape
Owing to favourable government initiatives, advancements in drone technology, and the growing demand from businesses across various industries the market pertaining to the area of North America is expected to witness growth at the highest rate during the forecasted years (2021-2028). The region acquired the largest market share in terms of volume of 36.87% in the year 2020.
In the forecast period, the market of Asia Pacific is expected to witness growth at a CAGR of 63.7%. The demand for commercial drones in the region is anticipated to exceed 9 million units by the year 2028.
Global Drone Market Competitive Hierarchy
With an aim of effectively addressing the business needs of their customers the manufacturers and providers of drones worldwide are developing custom-made industry-specific solutions. With the advancements in technology, manufacturers are able to produce effective and increased quality drones in terms of sizes, weights, and shapes. These advanced drones are capable of carrying different sensor payloads, making them useful across a broad application base.
Some of the prominent players that are boosting the growth of the market for global drones include, DJI, EHANG, YUNEEC, Parrot Drones SAS and 3D Robotics.
Report Scope
Global Drones Market: Historical Years 2018-2021
Global Drones Market: Forecast Years 2022- 2030
Global Drones Market-CAGR 59.2%
Key Segments Reported
By Product Type
By Application
By End use
Major Regions and Countries Covered
North America (US, Canada)
Europe (Germany, UK, France, Italy)
Asia Pacific (China, Australia, Japan, South Korea)
Latin America (Brazil, Mexico)
Middle East and Africa (UAE, Israel, South Africa)
Top player profiled- DJI, EHANG, YUNEEC, Parrot Drones SAS and 3D Robotics.
