Drones are specialized aircraft that have the ability to fly independently using a pre-programmed set of instructions or be controlled by a pilot on the ground. Commercial drones, specifically designed for business purposes, are unmanned aerial vehicles used in a wide range of industries. These industries include agriculture, where they assist in managing crops and livestock, and environmental applications, where they aid in assessing and monitoring ecological conditions. Additionally, drones are utilized in the media and entertainment sector for capturing captivating aerial footage. Other industries like energy, government, and engineering also utilize drones for tasks such as inspecting infrastructure, planning urban areas, and conducting research. Drones are valuable tools for various commercial applications, including aerial imaging, cargo management, weather monitoring, traffic control, and green mapping. These industries rely on drones as practical solutions to enhance their operations and achieve specific business objectives.
Global Commercial Drone Market Driving Factors and Challenges
The Commercial Drone market is being driven by several key factors. The global commercial drone market has grown significantly in recent years, and there are various factors driving this expansion. Many countries' regulatory environments for commercial drones have improved, encouraging more enterprises to utilize drone technology. Demand for commercial drones is likely to rise as organizations and individuals become more aware of the benefits of drones, such as enhanced efficiency, improved safety, and lower prices.
Despite the worldwide commercial drone market's development and promise, the industry faces a number of hurdles. Limited payload capacity is one of these difficulties. Drones have limited payload capacity, which limits their utility in some areas like agriculture and construction. Drones are subject to cyberattacks, which can jeopardize data security and pose safety issues. There are public worries about privacy and security in the use of drones, which might lead to bad perceptions and resistance to their use. Also, as the number of drones in use grows, so do safety concerns. There have been cases of drones crashing with structures, other aircraft, and people, leading to stronger rules and increased liability issues. Furthermore, Drones' flight time is restricted by battery life, making it difficult for enterprises to conduct large-scale activities efficiently.
Impact of COVID-19 on Global Commercial Drone Market
The COVID-19 pandemic has had both beneficial and negative effects on the worldwide commercial drone sector. Increased demand for drone delivery is one way the pandemic has impacted the industry. The pandemic has raised demand for drone delivery services as more people have stayed at home and relied on internet shopping. Drones have grown in popularity since they have been employed for contactless delivery of groceries, medicines, and other necessary things. The epidemic has affected global supply lines, creating delays in the production and delivery of drones and drone components. This has had an impact on the industry's producers and suppliers. As a result of the pandemic, demand for aerial imaging services in areas such as real estate and construction has decreased.
Commercial Drone Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; AeroVironment Inc., Agua Drone LCC, Autel Robotics Co. Ltd., BAE Systems PLC, Draganfly Inc., DRONE VOLT Group, Freefly Systems, General Atomics Aeronautical Systems Inc., Israel Aerospace Industry, Kespry Inc., Leonardo S.P.A., Lockhead Martin Corp., Northrop Grumman, Parrot Drone SAS, Safran SA, SYMA International Trade Development Ltd., Tata Advanced Systems Ltd., Thales Group, Others.
Global Commercial Drone Market Segmentation:
By Product Type: Based on the Product Type, Global Commercial Drone Market is segmented as; Flexed Wing Drones, Hybrid Drones, Rotary Blade Drones.
By Weight: Based on the Weight, Global Commercial Drone Market is segmented as; <2 kg, 2 kg – 25 kg, 25 kg – 150 kg.
By System: Based on the System, Global Commercial Drone is segmented as; Airframe, Hardware, Payloads, Propulsion System, Software, Others.
By Mode of Operation: Based on the Mode of Operation, Global Commercial Drone is segmented as; Autonomous, Remotely Operated, Semi-Autonomous.
By Application: Based on the Application, Global Commercial Drone is segmented as; Agriculture and Environment, Construction & Archaeology, Energy, Filming and Photography, Government, Inspection and Maintenance, Mapping and Surveying, Media and Entertainment, Precision Agriculture, Surveillance and Monitoring, Others.
By End Use: Based on the End Use, Global Commercial Drone is segmented as; Agriculture, Delivery & Logistics, Energy, Media & Entertainment, Real Estate & Construction, Security & Law Enforcement, Others.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.