Commercial Drones Market size to grow by USD 44,850.06 million from 2022 to 2027; The rising applications of drones to boost the market growth – Technavio

NEW YORK, June 21, 2023 /PRNewswire/ — The commercial drone market size is estimated to grow by USD 44,850.06 million from 2022 to 2027, growing at a CAGR of 38.97%. North America is estimated to contribute 44% to the commercial drone market growth during the forecast period. In North America, there is a high investment in the R&D of advanced electronics and sensors for military UAVs by the US DoD and the National Aeronautics and Space Administration (NASA). As a result, this will replace the existing avionics systems. For example, in May 2021, the US Army awarded a contract of USD 15.4 million to FLIR for its FLIR Black Hornet 3 personal reconnaissance systems. Furthermore, governing bodies are becoming more reliant on drones because of the success of drone strikes, which are likely to increase their demand and drive the growth of the commercial drone market in the region during the forecast period. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) – View the Sample report

Vendor Landscape

The commercial drone market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances and the price of the products –The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Commercial Drone Market – Market Dynamics

Major Drivers & Challenges

The rising applications of drones will drive the commercial drone market growth during the forecast period. Technological advancements have led to the use of drones in various fields, including agriculture, construction, mapping, logistics, and surveillance. Moreover, numerous logistics companies are conducting tests and trials for drone-based deliveries. For Instance, the partnership between Zipline International Inc. and Walmart Inc. in September 2020, where commercial drone delivery services were introduced in the US. In addition, drones offer the advantage of enabling faster delivery of goods compared to traditional road transport. Hence, these advancements are expected to drive the growth of the commercial drone market during the forecast period.

Cybersecurity threats will challenge the commercial drone market growth during the forecast period. UAVs use several technologies for effective communication. Furthermore, they depend on onboard sensors to determine flight parameters such as speed and altitude. Any external interference can affect one or more flight parameters. The onboard flight computer handles the pre-programmed flight paths which are used by Modern UAVs. This creates an easy chance for hackers to introduce malware into the computer. They can reprogram the flight computer or steal data from the computer. Hence, these challenges have led to mistrust toward the adoption of UAVs, which will restrict the adoption of commercial drones during the forecast period.

Key Trends

The development of lithium-metal batteries is a key trend influencing the commercial drone market growth. As they employ a non-flammable electrolyte, lithium-metal batteries are a viable alternative to lithium-ion batteries. They also have a high energy density, allowing drones to fly for extended periods. Furthermore, these batteries are more compact than lithium-ion batteries. The expanding range of drone flights is driving the use of drones by e-commerce enterprises, logistics organizations, and the construction and industrial sectors. Hence these factors will provide profitable opportunities for the growth of the commercial drone market during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report

Company Profiles

The commercial drones market report includes information on the product launches, sustainability, and prospects of leading vendors including Aeronavics, AeroTargets International LLC, AeroVironment Inc., Anadrone Systems Pvt. Ltd., Arc Sky LLC, Autel Robotics Co. Ltd., DELAIR SAS, Denel SOC Ltd., Draganfly Inc., Field Group AS, Geotech Environmental Equipment Inc., Guangzhou EHang Intelligent Technology Co. Ltd, iFlight Innovation Technology Ltd., Intel Corp., Parrot Drones SAS, Red Cat Holdings Inc., Skydio Inc., Teledyne Technologies Inc., The Boeing Co., and Yuneec International Co. Ltd.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Market Segmentation

This commercial drone market research report extensively covers market segmentation by product (software and services and hardware), end-user (infrastructure, media and entertainment, public safety, agriculture, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The software and services segment held the largest share of the market in 2022 and is expected to dominate the market during the forecast period. The increasing demand for software in drones is a key factor driving the growth of this segment. Software solutions help companies validate and analyze drone data.  The high cost associated with manufacturing commercial drones has forced many other vendors to stop manufacturing drones and shift to offering technical platforms and software solutions that are suitable for the drones available in the market. Hence all these above-mentioned factors will increase the segment growth during the forecast period.

What are the Key Data Covered in this Commercial Drones Market Research Report?

• CAGR of the commercial drone market during the forecast period
• Detailed information on factors that will drive the growth of the commercial drones market between 2023 and 2027
• Precise estimation of the commercial drones market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of commercial drones market vendors

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Related Reports:

The consumer drone market is estimated to grow at a CAGR of 14.76% and the size of the market is forecasted to increase by USD 5,362.6 million between 2022 and 2027. Furthermore, this report extensively covers market segmentation by product (multirotor, fixed wing, and single rotor), distribution channel (offline and online), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The advancements in sensors and the emergence of low-cost drones are the factors driving the growth of the consumer drone market.

The tethered drone market size is estimated to grow at a CAGR of 5.72% between 2022 and 2027, and the size of the market is forecast to increase by USD 21.64 million. Furthermore, this report extensively covers market segmentation by end-user (defense, telecommunication, and inspection and others), type (multi-copter and quadcopter), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The growing demand for drones in telecommunications is one of the key factors driving the growth of the market.

Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global commercial drones market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global commercial drones market 2017 – 2021 ($ million)

• 4.2 Product Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product – Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Software and services – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Software and services – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Software and services – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Software and services – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Software and services – Year-over-year growth 2022-2027 (%)

• 6.4 Hardware – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Hardware – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Hardware – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Hardware – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Hardware – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product ($ million)
• Exhibit 43: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 44: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user

• 7.3 Infrastructure – Market size and forecast 2022-2027 
• Exhibit 48: Chart on Infrastructure – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Infrastructure – Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Infrastructure – Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Infrastructure – Year-over-year growth 2022-2027 (%)

• 7.4 Media and entertainment – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Media and entertainment – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Media and entertainment – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Media and entertainment – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Media and entertainment – Year-over-year growth 2022-2027 (%)

• 7.5 Public safety – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Public safety – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Public safety – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Public safety – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Public safety – Year-over-year growth 2022-2027 (%)

• 7.6 Agriculture – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Agriculture – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Agriculture – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Agriculture – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Agriculture – Year-over-year growth 2022-2027 (%)

• 7.7 Others – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by End-user 
• Exhibit 68: Market opportunity by End-user ($ million)
• Exhibit 69: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 83: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027 
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 France – Market size and forecast 2022-2027 
• Exhibit 103: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.11 UK – Market size and forecast 2022-2027 
• Exhibit 107: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027 
• Exhibit 111: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Aeronavics
• Exhibit 123: Aeronavics – Overview
• Exhibit 124: Aeronavics – Product / Service
• Exhibit 125: Aeronavics – Key offerings

• 12.4 AeroVironment Inc.
• Exhibit 126: AeroVironment Inc. – Overview
• Exhibit 127: AeroVironment Inc. – Business segments
• Exhibit 128: AeroVironment Inc. – Key news
• Exhibit 129: AeroVironment Inc. – Key offerings
• Exhibit 130: AeroVironment Inc. – Segment focus

• 12.5 Arc Sky LLC
• Exhibit 131: Arc Sky LLC – Overview
• Exhibit 132: Arc Sky LLC – Product / Service
• Exhibit 133: Arc Sky LLC – Key offerings

• 12.6 Autel Robotics Co. Ltd. 
• Exhibit 134: Autel Robotics Co. Ltd. – Overview
• Exhibit 135: Autel Robotics Co. Ltd. – Product / Service
• Exhibit 136: Autel Robotics Co. Ltd. – Key offerings

• 12.7 DELAIR SAS
• Exhibit 137: DELAIR SAS – Overview
• Exhibit 138: DELAIR SAS – Product / Service
• Exhibit 139: DELAIR SAS – Key offerings

• 12.8 Draganfly Inc.
• Exhibit 140: Draganfly Inc. – Overview
• Exhibit 141: Draganfly Inc. – Business segments
• Exhibit 142: Draganfly Inc. – Key offerings
• Exhibit 143: Draganfly Inc. – Segment focus

• 12.9 Field Group AS
• Exhibit 144: Field Group AS – Overview
• Exhibit 145: Field Group AS – Product / Service
• Exhibit 146: Field Group AS – Key offerings

• 12.10 Geotech Environmental Equipment Inc. 
• Exhibit 147: Geotech Environmental Equipment Inc. – Overview
• Exhibit 148: Geotech Environmental Equipment Inc. – Product / Service
• Exhibit 149: Geotech Environmental Equipment Inc. – Key offerings

• 12.11 Guangzhou EHang Intelligent Technology Co. Ltd 
• Exhibit 150: Guangzhou EHang Intelligent Technology Co. Ltd  – Overview
• Exhibit 151: Guangzhou EHang Intelligent Technology Co. Ltd  – Product / Service
• Exhibit 152: Guangzhou EHang Intelligent Technology Co. Ltd  – Key news
• Exhibit 153: Guangzhou EHang Intelligent Technology Co. Ltd  – Key offerings

• 12.12 iFlight Innovation Technology Ltd. 
• Exhibit 154: iFlight Innovation Technology Ltd. – Overview
• Exhibit 155: iFlight Innovation Technology Ltd. – Product / Service
• Exhibit 156: iFlight Innovation Technology Ltd. – Key offerings

• 12.13 Parrot Drones SAS
• Exhibit 157: Parrot Drones SAS – Overview
• Exhibit 158: Parrot Drones SAS – Product / Service
• Exhibit 159: Parrot Drones SAS – Key offerings

• 12.14 Skydio Inc.
• Exhibit 160: Skydio Inc. – Overview
• Exhibit 161: Skydio Inc. – Product / Service
• Exhibit 162: Skydio Inc. – Key offerings

• 12.15 Teledyne Technologies Inc. 
• Exhibit 163: Teledyne Technologies Inc. – Overview
• Exhibit 164: Teledyne Technologies Inc. – Business segments
• Exhibit 165: Teledyne Technologies Inc. – Key news
• Exhibit 166: Teledyne Technologies Inc. – Key offerings
• Exhibit 167: Teledyne Technologies Inc. – Segment focus

• 12.16 The Boeing Co.
• Exhibit 168: The Boeing Co. – Overview
• Exhibit 169: The Boeing Co. – Business segments
• Exhibit 170: The Boeing Co. – Key offerings
• Exhibit 171: The Boeing Co. – Segment focus

• 12.17 Yuneec International Co. Ltd. 
• Exhibit 172: Yuneec International Co. Ltd. – Overview
• Exhibit 173: Yuneec International Co. Ltd. – Product / Service
• Exhibit 174: Yuneec International Co. Ltd. – Key news
• Exhibit 175: Yuneec International Co. Ltd. – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations
• Exhibit 182: List of abbreviations

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