Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Global Commercial Drones Market Size, Share & Industry Trends Analysis Report By Product, By End-use, By Application, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Commercial Drones Market size is expected to reach $167 billion by 2028, rising at a market growth of 34.5% CAGR during the forecast period.
Key Market Players
List of Companies Profiled in the Report:
- AeroVironment, Inc.
- SZ DJI Technology Co., Ltd.
- PrecisionHawk, Inc.
- Autel Robotics Co., Ltd.
- Draganfly Inc.
- Intel Corporation
- Teledyne FLIR LLC (Teledyne Technologies Incorporated)
- Aeronavics Ltd.
- Parrot Drones SAS
- EHang Holdings Limited
Uncrewed aircraft that can perform a variety of tasks autonomously are called drones. From military operations to commercial purposes, they are employed. Nowadays, the usage of drones to facilitate work seems to have changed significantly.
The drones may be big or small, but they don't require a pilot to fly them since they can be controlled remotely and, in the case of smart drones, through smartphones. Drones are employed for various tasks, such as recording and responding to emergencies.
These gadgets are also in great demand in the building and real estate industries since they can scan the property, provide precise and ongoing project notifications, improve safety, and stop dangerous incidents on construction sites.
Over the last several years, many more corporate drone use cases have existed. For instance, drone software makers and suppliers are constantly developing, testing, and improving new products for various applications.
Moreover, industries with high crime rates and labor expenses are more likely to see the emergence of conventional use cases like monitoring, surveillance, and security. Drones are often used in search and rescue operations and in locating elevated infrastructure that may have broken electrical wires and unstable roofs in hazardous and inaccessible locations.
The drone product line up has been simplified by technological developments in electronics, including contemporary computers, microcontrollers, processors, mobile devices, and cameras.
Due to these advancements, businesses may now create measuring and annotation tools for calculating area, volume, and distance. Consequently, businesses are continually using artificial intelligence and machine learning techniques to extract reliable information from a mass of data and information obtained from millions of data points. AI technology effectively handles and retains enormous amounts of data, which enables Drones to function.
Market Growth Factors
Products with cutting-edge technology and more uses for GIS, LIDAR, and other services
Using cutting-edge technologies like multidimensional modeling, architectural planning, and project monitoring is progressing in the real estate and civil engineering industries.
Drone-based solutions are also utilized for various tasks, such as research and exploration, archaeological surveys, mining, freight management, telecom network management, oil and gas resource management, and others. They save time and improve workflow.
Also, the expansion of application sectors fuels demand for sophisticated drone systems and is anticipated to boostmarket growth during the projectedperiod.
Public safety as commercial drone use rises
Drones may be used in the hours or days after a catastrophe, such as an earthquake, storm, flood, etc., to map the whole region. The destruction may be analyzed using2D and 3D maps, enabling the disaster management team to allocate resources wisely. Drones may also aid disaster preparation by mapping regions vulnerable to natural disasters.
By doing so, disaster response teams can identify high-risk areas and implement strategies to lessen potential damage from catastrophes and save lives. Thus, the rising adoption of commercial drone for public safety will drive market growth.
Market Restraining Factors
Security and privacy issues
Drones are not permitted to break any security or privacy rules or enter NOAA or flight-restricted zones. Nevertheless, many countries laws are still being developed.
Hence, there is no clear regulatory framework for this sector. Drones are increasingly being used for various purposes, which has raised the risk to users' cyber security. By obtaining access to drones' unencrypted Wi-Fi and GPS systems, hackers may be able to exploit them. These security issues are expected to hinder the market growth of commercial drone.
Scope of the Study
By Product
- Rotary Blade
- Fixed-wing
- Hybrid
By End-use
- Media & Entertainment
- Security & Law Enforcement
- Agriculture
- Energy
- Real Estate & Construction
- Others
By Application
- Filming & Photography
- Mapping & Surveying
- Surveillance & Monitoring
- Inspection & Maintenance
- Precision Agriculture
- Others
For more information about this report visit https://www.researchandmarkets.com/r/siciqn
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