Commercial Drones Market To Reach USD 247.50 Billion By 2027 | Reports And Data

Fri May 22, 2020 - 2:15am GMT+0000

Technological advancements in drone technology and supportive government regulations are among the significant factors influencing the market growth.

New York City, United States – May 21, 2020 /MarketersMedia/

The global commercial market is expected to reach USD 247.50 Billion by 2027, according to a new report by Reports and Data. Growing demand for commercial drones in several industry verticals, including agriculture, is a significant driver for market growth. The sector will make the monumental shift from traditional to digitalized farming methods. Advanced technology is creating state of the art automated solutions. Enhancement in the technical field has led to advanced imaging capabilities and features in drones. The manufacturers are focusing on developing advanced drones with the built-in ability of global positioning systems (GPS), geographic information systems (GIS), and the autopilot system.

COVID-19 :
The drones market is experiencing accelerated growth in the present year, especially owing to the lockdowns, quarantines, and COVID-19 safety measures adopted across the globe. In the present scenario, drones are an effective alternative to limit physical contact from humans for things comprising sanitization, crowd dispersals, deliveries of goods, and payloads. The COVID-19 pandemic has had a massive impact on the healthcare industry. One of the significant areas where the influence of coronavirus has been most acutely felt is in the distribution of medical supplies and drugs to affected zones and the conveyance of test samples to diagnostic labs.

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Competitive Landscape
Key participants include DJI, Parrot Drones, Zipline International, Hardis Group, 3D Robotics, INSITU, Flirty, Matternet, PrecisionHawk, Uber Techniologies, and Flytrex Aviation Limited, among others.

For the purpose of this report, Reports and Data have segmented the global commercial drones market on the basis of product type, application, mode of operation, industry vertical, and region:

Product Type Outlook (Revenue, USD Million; 2017-2027)
• Fixed Wing Drone
• Rotary Blade Drone
• Hybrid Drone

Application Outlook (Revenue, USD Million; 2017-2027)
• Filming & Photography
• Inspection & Maintenance
• Mapping & Surveying
• Precision Agriculture
• Surveillance & Monitoring
• Others

Mode of Operation Outlook (Revenue, USD Million; 2017-2027)
• Remotely Operated
• Semi-Autonomous
• Autonomous

Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
• Agriculture
• Delivery & Logistics
• Media & Entertainment
• Energy
• Construction & Real Estate
• Security & Law Enforcement
• Others

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Further key findings from the report suggest
• By product type, rotary blade drones dominated the market in 2019. The main benefit of rotary commercial drones is the capability for vertical takeoff and landing, enabling the user to operate within a smaller surrounding area. Their ability to hover and perform agile maneuvering makes rotary-wing drones appropriate to applications such as inspections where accuracy maneuvering and the ability to uphold a visual on a single target for prolonged periods of time is required.
• By mode of operation, autonomous commercial drones are likely to witness the fastest growth rate in the period 2020-2027
• By application, filming & photography contributed to the largest market share of over 25.0% in 2019. The advantage of using commercial drones for filming & photography is that it enables to take images from a higher perspective. The majority of drones, predominantly the ones made for advanced users, have built-in cameras that have the ability to rotate and swivel to let the operator to capture photos and videos from varied angles.
• By industry vertical, construction and real estate is projected to grow at a rate of 51.7% in the forecast period. Drones can fly in unreachable and hazardous areas and gather data easily, while providing real-time information, resulting in significant enhancement in surveying precision.

Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America

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To summarize, the global Commercial Drones market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry.

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