Global Commercial Drones Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Fixed Wing, Single Rotor, Multi-Rotor), By End-Use Industry (Agriculture, Energy, Retail, Government, Media And Entertainment, Others), And By Geography - Forecasts From 2022 To 2027

Published:  Nov 2022 Report Code: KSI061610415 Pages: 140

The global commercial drone market was valued at US$9.325 billion in 2020. It is anticipated to grow at a CAGR of 30.78% to reach a final value of US$61.018 billion by 2027.

Implementation of strict yet simple regulations regarding the use of commercial drones is the major driver of the global commercial drone market. All these favourable regulations across different countries or regions are paving the way for a wider application of drone technology worldwide. Businesses across various end-user industries are using drones for multiple commercial applications apart from basic surveillance and photography. For instance, farmers are using drones to monitor crops and soil while insurance companies are using the same data to inspect damaged assets in the agricultural sector. In the retail sector, drones are being increasingly used for delivery services by retail stores.

Growing investments to propel market expansion

Rising R&D investments in developing new drone applications, as well as the use of drones for testing applications, are also fueling global commercial drone market growth.  In August 2018, Shanghai’s Jinshan Industrial Zone officially opened a UAV base, allowing China to carry out multi-scenario testing and applications using drones. Increasing applications of commercial drones in industries such as oil and gas, nuclear power, and renewables will further continue to propel the market growth of commercial drones during the next five years. ExxonMobil, BP, and Royal Dutch shell are some of the major oil and gas companies that are deploying drones to obtain real-time insights while enhancing their productivity.

The recent novel COVID-19 global pandemic outbreak has significantly boosted the demand for commercial drones for various applications.

Countries are using drones in order to prevent further transmission of this deadly disease. For example, Terra Drone's business partner Antwork used drones RA3 and tr7s to transport medical samples and quarantine materials between Xinchang County disease control center, Xnchang County People’s Hospital, and Dashiju branch of Xinchang County People’s Hospital. Tamil Nadu (India) used a drone to spray disinfectant over Rajiv Gandhi Government General Hospital in Chennai.

Retail sector poised to grow at a significant rate during the forecast period

The retail industry will experience a significant CAGR during the forecast period. Drones are capturing the interest of global retailers as competition in this industry is pushing them to develop new ways to make their supply chains more efficient while reducing delivery costs. As such, commercial drone manufacturers are expanding their market base across the global retail industry, thereby driving the market growth. In 2019, Alphabet’s Wing launched a full-fledged drone delivery service in Canberra, Australia. The company also announced a similar service trial for a suburb in Helsinki, Finland, including its first such effort in Europe. The agriculture sector is also increasingly adopting the use of drones for various applications, including soil monitoring and spraying fertilizers and pesticides. Growing demand for drones for disaster management services will also fuel the overall market growth of commercial drones during the next five years. In September 2019, DJI launched two that can be used during natural disasters and recovery missions.  

By geography, APAC and North America are projected to witness a significant CAGR

By geography, the global commercial drone market is classified into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America accounted for a significant share of the global Commercial Drones market in 2019. Implementation of simple and relaxed regulations in the U.S. and Canada regarding the use of commercial drones has boosted the demand for commercial drones across this region. In 2018, the FAA (Federal Aviation Administration) launched the UAS Integration Pilot Program (UAS IPP) to allow states to test drone flights in various ways otherwise prohibited by the FAA’s rules governing the operation of drones weighing less than 55 pounds. In June 2019, Canada also implemented simplified drone regulations for commercial, recreational, and research purposes. APAC will witness a substantial CAGR during the forecast period on account of the rising use of drones across various industries in countries like China and India. In July 2017, the State Council of China released the ‘New Generation Artificial Intelligence (AI) Development Plan’ with UAV as one of the focus sectors. On August 27, 2018, the Indian Ministry of Civil Aviation released the National Drone Policy 1.0, making flying drones in India legal.

Market Developments

  • In January 2021, Sompo International Holdings Ltd., a Bermuda-based specialist provider of property and casualty insurance and reinsurance, collaborated with Flock, a UK insurtech that provides commercial drone operators with data-driven insurance solutions. This collaboration advances the future of unmanned aircraft by boosting the availability of crucial insurance for growing use cases like drone freight deliveries and drone swarm exhibitions, among others.
  • In February 2021, AgEagle Aerial Systems, an industry-leading provider of drone systems and solutions, announced the acquisition of MicaSense from Parrot, Europe's largest drone firm, for $23 million in cash and shares.

Global Commercial Drones Market Scope:

 

Report Metric Details
 Market Size Value in 2020  US$9.325 billion
 Market Size Value in 2027  US$61.018 billion
 Growth Rate  CAGR of 30.78% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Type, End-Use Industry, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered DJI, Harris Aerial, Parrot Drones SAS, PrecisionHawk, 3DR, AeroVironment, Inc., Aeronavics Ltd, Autel Robotics, Draganfly Innovations Inc, Holy Stone
 Customization Scope  Free report customization with purchase

 

Segmentation

  • By Type
    • Fixed Wing
    • Single Rotor
    • Multi-Rotor
  • By End-Use Industry
    • Agriculture
    • Energy
    • Retail
    • Government
    • Media and Entertainment
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • United Kingdom
      • Italy
      • France
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • Australia
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the commercial drones market size by 2027?
A1. The global commercial drone market is anticipated to reach a total market size of US$61.018 billion by 2027.


Q2. What is the size of the global commercial drones market?
A2. Commercial Drones Market was valued at US$9.325 billion in 2020.


Q3. What are the growth prospects for the commercial drones market?
A3. The commercial drone market is anticipated to grow at a CAGR of 30.78% during the forecast period.


Q4. What factors are anticipated to drive the commercial drones market growth?
A4. Implementation of strict yet simple regulations regarding the use of commercial drones is the major driver of the global commercial drone market.


Q5. Which region holds the largest share of the commercial drones market?
A5. North America accounted for a significant share of the global commercial drone market owing to the implementation of simple and relaxed regulations in the U.S. and Canada regarding the use of commercial drones.


1. INTRODUCTION

1.1. Market Overview

1.2. COVID-19 Scenario

1.3. Market Definition

1.4. Market Segmentation

 

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

 

3. EXECUTIVE SUMMARY

3.1. Research Highlights

 

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

 

5. GLOBAL COMMERCIAL DRONES MARKET ANALYSIS, BY TYPE 

5.1. Introduction

5.2. Fixed Wing

5.3. Single Rotor

5.4. Multi-Rotor

 

6. GLOBAL COMMERCIAL DRONES MARKET ANALYSIS, BY END-USE INDUSTRY

6.1. Introduction

6.2. Agriculture

6.3. Energy

6.4. Retail

6.5. Government

6.6. Media and Entertainment

6.7. Others

 

7. GLOBAL COMMERCIAL DRONES MARKET ANALYSIS, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. United Kingdom

7.4.3. Italy

7.4.4. France

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. South Korea

7.6.4. Australia

7.6.5. India

7.6.6. Others

 

8.  COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

 

9. COMPANY PROFILES

9.1. DJI

9.2. Harris Aerial

9.3. Parrot Drones SAS

9.4. PrecisionHawk

9.5. 3DR

9.6. AeroVironment, Inc.

9.7. Aeronavics Ltd

9.8. Autel Robotics

9.9. Draganfly Innovations Inc

9.10. Holy Stone

DJI

Harris Aerial

Parrot Drones SAS

PrecisionHawk

3DR

AeroVironment, Inc.

Aeronavics Ltd

Autel Robotics

Draganfly Innovations Inc

Holy Stone

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