Commercial drones market expected to reach $21.69 billion by 2030
According to a recent report published by Allied Market Research, titled, “Commercial drones Market by Type, Mode of Operation, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”the global commercial drones market was valued at $2.72 billion in 2020, and is projected to reach $21.69 billion by 2030, registering a CAGR of 23.7%.
North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global commercial drones market share in North America in 2020, owing to increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making reliable, precise, and efficient commercial drones. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of commercial drones along across several Asian nations, for instance, China, India, Japan, and South Korea.
By type, the commercial drones market is segregated into fixed wing, rotary, and hybrid. The rotary segment accounted for the highest revenue in 2020, owing to high demand for rotary type commercial drones that are being deployed for numerous commercial applications throughout the world.
On the basis of mode of operation, the market is segmented into remotely operated, semi-autonomous, and autonomous. The remotely operated segment garnered the highest revenue in 2020, owing to high demand for remotely controlled drones across different industry applications worldwide.
Depending on application, the commercial drones market is fragmented into agriculture and environment, media and entertainment, energy, government, construction, and others. The construction segment was the highest revenue contributor in 2020, owing to high demand for commercial drones, which are used for different applications in the commercial sector.
COVID-19 Impact Analysis
- The COVID-19 impact on the commercial drones market is unpredictable, and is expected to remain in force for a few years.
- The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import–export of raw materials items for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for manufacturing commercial drones.
- Moreover, nationwide lockdown forced drone manufacturing facilities to partially or completely shut their operations.
- Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of advanced commercial drones globally.
Key Findings Of The Study
- By type, the hybrid segment is expected to register a significant growth during the forecast period.
- On the basis of mode of operation, the autonomous segment is anticipated to exhibit significant growth in future.
- Depending on application, the media and entertainment segment is anticipated to exhibit significant growth in future.
- Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The key players that operate in the global commercial drones market include AeroVironment, Inc., Aeryon Labs Inc., Delair, DJI Technology Co., Ltd., Insitu Inc., Leptron Unmanned Aircraft Systems, Inc., Parrot SA, PrecisionHawk Inc., SKYDIO, and Yuneec International Co. Ltd. Allied Market Research
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