Press Release

Global Commercial Drones Market to Reach USD 651.87 Billion by 2032, Aided by the Increasing Use of Drones in Various Industries

Global Commercial Drones Market

According to a new report by EMR titled, ‘Global Commercial Drones Market Report and Forecast 2024-2032’, the global market attained a value of about USD 41.37 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 35.9% to reach nearly USD 651.87 billion by 2032.

North America holds a significant share in the commercial drones industry owing to the extensive use of drones in the region. The increasing manufacturing of drones in countries such as the United States and Canada are leading to a surge in the availability of drones for commercial uses, which is propelling the market growth. For instance, the United States Department of Defence (DoD) selected five local companies to deliver commercial drones to the military and government agencies to reduce reliance on imported products in August 2020. In addition, the growing deployment of commercial drones for the delivery of products in the region is augmenting the industry growth. Technological advancements and the rapid adoption of the latest technology such as machine learning, big data, and artificial intelligence (AI) in the region is leading to the development of advanced drones, which is expected to fuel the growth of the commercial drone industry.

 

Draganfly (CNSX: DPRO), one of the leading companies, announced that it would launch its new, North American designed and built, Draganfly Commander2 drone in August 2021. The drone is extensively designed, developed, and manufactured in Canada and complies with “Built-in-North America” requirements. The drone takes maximum advantage of the federal regulatory requirements concerning the origin and security of drone systems and devices. It is a small Unmanned Aerial System (sUAS) and replaces the Commander platform launched in 2015. The model improves operational capabilities and payload options while offering North American built and sourced flight controllers, sensors and communications, and utilises Mav-Link based mission planning software. The development of such products is expected to augment the market growth.

 

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Market Analysis by Product Type, Application, End Use, and Region:

  • The market, on the basis of product type, can be divided into fixed wing, rotary blade, and hybrid.
  • Based on application, the industry can be divided into filming and photography, inspection and maintenance, mapping and surveying, precision agriculture, and surveillance and monitoring, among others.
  • The major end uses of commercial drones include agriculture, delivery and logistics, energy, media and entertainment, real estate and construction, and security and law enforcement, among others.
  • The regional markets for commercial drones include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The extensive use of commercial drones for surveillance and delivery of essentials during the COVID-19 crisis is augmenting the market growth.
  • The rising demand for drones in various applications, such as pesticide spraying and crop management, while providing insights to crop health and yield in precision agriculture is fuelling the growth of the commercial drones industry.
  • The growing deployment of commercial drones in the construction industry for data collection and surveillance is propelling the market growth.
  • The market is expected to be driven by advancements in imaging technologies, the integration of artificial intelligence (AI) and machine learning in drone technology, and the rising trend of smart mobility of drones.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for commercial drones for the periods (2018-2023) and (2024-2032).
  • The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, applications, end uses, and regions of commercial drones.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global commercial drones market are Aeronavics Ltd., AeroVironment, Inc., Autel Robotics, SZ DJI Technology Co., Ltd., and Draganfly Inc., 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.

 

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