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Global Commercial Drone Market to Grow at a CAGR of 57% over the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Commercial Drone Market Report and Forecast 2021-2026’, the global commercial drone market size was around USD 10.2 billion in 2020. The commercial drone industry is further expected to grow at a CAGR of 57% globally over the forecast period of 2021-2026.

The global commercial drone market is being driven by the rising demand for unmanned aerial vehicles that can be used for various applications like deliveries, security, and surveillance, agriculture, etc. Unmanned aircraft systems are experiencing a healthy growth in the United States and around the world. According to FAA (Federal Aviation Administration), the commercial drone market value could triple in size between 2020 and 2023. While North America is the largest market for the product, the Asia Pacific region is expected to be the emerging market for the product over the forecast period.

The thriving e-commerce sector is leading to a rise in the trend of online delivery services. Thus, to fulfill the growing demand for online and timely deliveries, the courier and product delivery service giants such as, Inc. (NASDAQ: AMZN) and DHL are adopting drones to enhance their services. Such players are investing and making collaborations with other firms for implementing drones in the delivery of goods and services. Further, drones are also being adopted for entertainment purposes. In February 2020, Intel Corporation (NASDAQ: INTC), a leading player in the industry, collaborated with the NFL to create the first-ever live drone light show during Pepsi Super Bowl LIII Halftime Performance by deploying 150 Custom Intel Drones, illuminating the stadium, while, the installed Intel True View in 13 NFL stadiums, including Super Bowl LIII host Mercedes-Benz Stadium enabled immersive highlights of the game and enhanced the experience of the audience and fans. Such developments are expected to aid the growth of the commercial drone market globally over the forecast period.

Market Breakup by Types, Mode of Operation, Application, Services, and Region:

  • By type, the global commercial drone industry can be divided into fixed-wing, multi-rotor, and hybrid.
  • On the basis of mode of operation of drones, the industry can be segmented into remotely operated, semi-autonomous, and autonomous. 
  • Commercial drones find applications in sectors like agriculture, logistic, energy and utility, security and law enforcement, and real estate and construction, among others. 
  • On the basis of services, the market can be divided into delivery, weather, inspection and management, filming and entertainment, and surveillance and monitoring, among others.
  • Region-wise, the global commercial drone market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global commercial drone market is being driven by the rapid innovation in the field of unmanned aerial vehicles and vast improvements in sensors, software cameras, and processing technology. 
  • The growing need to enhance business efficiency, further satisfying consumer demand with timely deliveries, is propelling the industry growth.
  • The deployment of drones for diverse applications in diverse industries and its growing adoption to reduce manpower is further contributing to the growth of the commercial drone market.
  • The growing focus of drone manufacturers to launch products with advanced and enhanced features is aiding the industry further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global commercial drone market for the periods (2016-2020) and (2021-2026), providing various trends in the industry for these periods.
  • The report offers historical (2016-2020) and forecast (2021-2026) market information for the types, mode of operation, applications, services, and regional markets of the global commercial drone industry.
  • It also provides an assessment of the industry based on the Porter’s Five Forces model along with a SWOT and consumer analysis.

The major players in the global commercial drone market are Aeronavics Ltd., Draganfly Innovations Inc., Aeryon Labs Inc. Aero, AeroVironment, Inc., Ehang UAVs, Intel Corporation, Parrot Drones SAS, and PrecisionHawk, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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