DUBLIN--(BUSINESS WIRE)--The "Commercial Drone Market Size, Share & Trends Analysis Report by Product, by Application, by End-use, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
Market Dynamics
Market driver analysis
- Increasing economic opportunities provided by drones
- Favourable regulatory landscape
- Drone technological proliferation
- Escalating demand from various application areas
- Effective adoption of drones in law enforcement
- Integration of intelligent technologies in drones
- 5G and cloud computing
Market restraint analysis
- Stringent government regulations
- Scarcity of trained pilots
- Air traffic management Issues
- Safety and privacy issues
Key Topics Covered:
Chapter 1 Report Scope
Chapter 2 Methodology
Chapter 3 Research Objective
Chapter 4 Executive Summary
Chapter 5 Market Definitions
Chapter 6 Industry Outlook
Chapter 7 Regulatory and Political Forces
Chapter 8 Competitive and Vendor Landscape
Chapter 9 Product Type Estimates & Trend Analysis
Chapter 10 Application Estimates & Trend Analysis
Chapter 11 End-Use Estimates & Trend Analysis
Chapter 12 Commercial Drone Regional Outlook
Chapter 13 Competitive Landscape
- Aeronavics Ltd.
- AeroVironment Inc.
- Autel Robotics
- DJI
- Draganfly Innovations Inc.
- EHang, Inc.
- Intel Corporation
- Parrot Drones SAS
- PrecisionHawk Inc.
- YUNEEC
For more information about this report visit https://www.researchandmarkets.com/r/ntx4kg
