Global commercial drones market is expected to grow from US$0.755 billion in 2017 to US$2.034 billion in 2022, at a CAGR of 21.91% over the forecast period.
Drones are unmanned aerial vehicles which are used for surveillance, photography, forest fire monitoring, soil moisture imaging, flood mapping and other applications. The market for commercial drones is majorly driven by the relaxation of the regulatory policies for the use of drones.
Growing adoption of drones for law enforcement is also boosting the demand for commercial drones as these devices can transfer high-resolution images and videos and other surveillance data in real time to base stations. The demand for commercial drones is also augmenting due to their increased use by the governments for infrastructure, R&D activities, environmental studies, and disaster management activities.
By application, agriculture is projected to grow at the highest CAGR over the forecast period on account of growing need for crop monitoring. Moreover, continuous technological advancements comprising improved design and better data processing capabilities will propel the market growth in the next five years.
Geographically, North America dominates the global commercial drones industry due to high production and early adoption of new technologies in various sectors. Supportive government initiatives, building retrofits, and increasing applications in law enforcement and agriculture will spur the demand for commercial drones in Europe.
APAC region will also witness a significant regional market growth owing to the high adoption of commercial drones for agriculture and disaster management activities. However, restraints such as stringent government regulations regarding safety and security issues, scarcity of trained pilots, and lack of air traffic management systems will hamper the growth of the global commercial drones market during the forecast period.
Rotary Blade Drones
Fixed Wing Drones
By Industry Vertical
Media and Entertainment
Key industry players are Hoovy, Trimble UAS, Drone Deploy, Precision Hawk, and Parrot SA among others.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Commercial Drones Market Forecast by Type (US$ billion)
6. Commercial Drones Market Forecast by Industry Vertical (US$ billion)
7. Commercial Drones Market by Geography (US$ billion)