Commercial Drone Market Is Expected to Grow at an Estimated CAGR of 57.5% During 2021 – 2028 | Grand View Research, Inc.

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According to a new report published by Grand View Research, In terms of volume, the demand was recorded at 689.4 thousand units in 2020. Drones are used for multiple applications ranging from filmmaking to emergency response

Commercial Drone Market Growth & Trends

The global commercial drone market size is anticipated to reach USD 501.4 billion by 2028, registering a CAGR of 57.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The rising demand for commercial drones can be attributed to the growing application base across a wide range of end-use verticals, including real estate and construction, media and entertainment, and agriculture. Majority of the end-use verticals that involve a high proportion of operational processes are expected to experience substantial productivity gains from drone usage owing to the automation of business operations.

UAVs or drones are reinventing old businesses and even creating new prospects. In 2016, the Federal Aviation Administration (FAA) released regulations related to the usage of commercial drones that clarified the legal landscape for businesses and workers. Since then, the industrial applications of commercial drones have significantly increased. Drones are expected to emerge as versatile tools, which can transform the existing business operations and help to establish new startups.

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The prominent industry players are involved in the manufacturing as well as supply of accessories required for drone operation. Additionally, they provide applications for Android/iOS-based smartphones and tablets to efficiently operate and maneuver the drones during flight. These manufacturers offer drones for various verticals, such as security & law enforcement, energy, agricultural, retail, media, and entertainment.

Commercial Drone Market Report Highlights

The ability of drones to perform increasingly complex tasks is likely to improve with advancements in technologies such as collision avoidance and autonomy
Commercial drones are anticipated to become a potential alternative for the logistics activities of companies, helping them increase their competitive advantage
Drones are widely being used to inspect power plants, oil and gas, and other industrial sites to ensure proper operations and safeguard these sites
Newer drone-supportive regulations are expected to lower the entry barriers for startups providing commercial operations of drones
The advent of drones is set to transform the media industry as it allows the journalism sector to cover news in areas where human entry is prohibited

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Commercial Drone Market Segmentation

Grand View Research has segmented the global commercial drone market based on product, application, end-use, and region:

Commercial Drone Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 – 2028)

Fixed-wing
Rotary Blade
Hybrid

Commercial Drone Application Outlook (Revenue, USD Million, 2016 – 2028)

Filming & Photography
Inspection & Maintenance
Mapping & Surveying
Precision Agriculture
Surveillance & Monitoring
Others

Commercial Drone End-use Outlook (Revenue, USD Million, 2016 – 2028)

Agriculture
Delivery & Logistics
Energy
Media & Entertainment
Real Estate & Construction
Security & Law Enforcement
Others

Commercial Drone Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy

Asia Pacific
China
Australia
Japan
South Korea

Latin America
Brazil
Mexico

Middle East & Africa (MEA)
UAE
Israel
South Africa

List of Key Players in the Commercial Drone Market

DJI
Parrot Drones SAS
YUNEEC
3D Robotics
EHANG

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About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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