The Global Commercial Drones Market is Projected to driven by Increased Usage for Delivery Services
Commercial drones, also known as unmanned aerial vehicles (UAVs), are battery-powered aircrafts that do not require a human pilot and can be remote controlled or fly autonomously based on pre-programmed flight plans or more complex dynamic automation systems. Commercial drones find applications across various industries including agriculture, real estate, delivery services, infrastructure monitoring, and law enforcement operations. They allow conducting aerial filming and photography activities easily due to compact frame and onboard cameras. The rising adoption of drones for delivery services is a major factor bolstering the growth of commercial drones market. Drones offer cost-effective and efficient delivery of goods and are able to reach remote locations inaccessible by road.
The Global commercial drones market Demand is estimated to be valued at US$ 22.29 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the commercial drones market are Lockheed Martin Corporation, Northrop Grumman., The Boeing Company, BAE Systems PLC, Airbus S.A.S., FLIR Systems, Inc., Aero Vironment, Inc., Textron Inc., Aeryon Labs Inc., General Atomics, Thales, Quantum Systems, Elistair, Delair, DJI and Ehang. Lockheed Martin Corporation and Northrop Grumman are the leading manufacturers of high-end commercial drones for defense and government applications. The Boeing Company is focusing on developing autonomous drones for cargo delivery service.
The growing demand for commercial drones across industries such as infrastructure, energy, transportation, agriculture and law enforcement is fueling the market growth. Drones allow monitoring tough terrains and infrastructure easily with high-resolution imaging payloads. They help inspecting power lines, cell towers, pipelines, and transmission towers safely. Several companies are using drones for surveying construction sites, monitoring crop growth, and inspecting wind turbines.
The commercial drones market is witnessing increasing global adoption with growing approval for BVLOS (beyond visual line of sight) operations. Regulatory bodies in several countries are coming up with new regulations to integrate drones safely into controlled airspaces. Europe and North America currently dominate the market and major players are focusing on expanding to emerging markets of Asia Pacific and Middle East & Africa. China, India, and Middle East nations are expected to offer high growth opportunities for commercial drones over the coming years.
Market drivers
One of the major drivers for the growth of commercial drones market is increased adoption for delivery services. Online retail giants and food delivery companies are actively testing drones for cargo delivery. Drones offer low-cost and fast delivery of parcels without traffic hurdles. Several pilots are underway to deliver medicines and emergency services using drones. The reduced delivery time using drones is garnering increased interest from logistics industry. This will further accelerate the adoption of commercial drones globally over the forecast period.
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