Newark, Aug. 22, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global commercial drones market is expected to reach USD 83.25 billion 2033, at a CAGR of 13.90% during the forecast period 2024 to 2033. North America region emerged as the most prominent global commercial drone market, with a 34.21% market revenue share in 2023. The favourable government regulations and the presence of the key regional players are the primary factors for the regional market growth and development. On the other hand, the Europe region is expected to have stable growth over the forecast period. Owing to the significant demand across various industries such as transportation, energy, and others, Europe can be considered one of the primary markets for commercial drones.
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Furthermore, countries including France, Germany, and UK are among the most active in the commercial drone industry sector. To achieve a competitive advantage in the market, the companies within the countries mentioned above have been investing in developing innovative technologies such as swarm technology, cloud-based systems, and UAV-based imaging systems. This is the primary factor which aided the expansion of the regional market.
Scope of the Report:
| Report Metrics | Details |
| Market size available for years | 2024–2033 |
| Base year considered | 2022 |
| Forecast period | 2024–2033 |
| Market Size in 2023 | $22.65 Billion |
| Projected Market Value in 2033 | $83.25 Billion |
| CAGR | 13.90% From 2024 to 2033 |
| Segments covered | Type, Application, Regions |
| Geographies covered | North America, Asia Pacific, Europe, Middle East and Africa, and Latin America |
| Companies covered | DJI, AeroVironment Inc., Autel Robotics, Aeronavics Ltd., EHang Inc., Intel Corporation, YUNEEC, Parrot Drones SAS, PrecisionHawk Inc., Draganfly Innovations Inc. |
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Leading companies in the industry include DJI, AeroVironment Inc., Autel Robotics, Aeronavics Ltd., EHang Inc., Intel Corporation, YUNEEC, Parrot Drones SAS, PrecisionHawk Inc. and Draganfly Innovations Inc. among others. These industry players are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The type segment is divided into fixed-wing, hybrid and rotary blade. The rotary blade segment dominated the market, with a market share of around 61.22% in 2023. Rotary-blade drones are expected to become more popular for inspection activities due to their ability to hover and make fast maneuvers while retaining a long-range view of a single target. These drones are feasible for various professional applications such as filming & photography, monitoring, surveillance, and others. Furthermore, they are easier to operate in comparison to fixed-wing and hybrid ones. The application segment is divided into mapping & surveying, filming & photography, surveillance & monitoring, inspection & maintenance and others. The filming & photography segment dominated the market, with a market share of around 31.11% in 2023. The segment growth is mainly attributed owing to the growing utilization of the drone cameras for visualization and recording purposes. Commercial drones have been identified as an essential component of the photographic industry. Furthermore, Commercial drones are helpful for behind-the-scenes footage, sweeping shots, motion pictures, live streaming and high-and-wide shots. The industry segment is divided into real estate & construction, agriculture, media & entertainment and others. The media & entertainment segment dominated the market, with a market share of around 37.11% in 2023. The commercial drones have many uses within the media and entertainment industry. Movie producers and filmmakers are increasingly utilizing commercial drones to capture frames cost-effectively and precisely. Additionally, the need for aerial photography for advertising public spaces, amusement parks, and other tourist attractions such as hotels and resorts is likely to drive the segment's growth.
Drones rely heavily on advanced technologies, but the majority of them are still in under-development currently. The introduction of autonomous flying technology is projected to positively impact market growth in the near future. The advancement of dynamic routing handoffs between machine and human controllers and system-failure reactions is expected to boost the demand for commercial drones. With improved autonomous control, the organizations will pursue the elusive utilization of commercial drones in the areas, including repetitive surveillance of construction projects, pipelines, and mines. Because of these attributes, the commercial sector is seeing a surge in demand for drones, which improves productivity by lowering total costs and boosting the visualization of projects. Additionally, the utilization of UAVs in determining accuracy, especially in the construction industry, is anticipated to provide lucrative growth opportunities in the upcoming years.
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