PUBLISHER: KBV Research | PRODUCT CODE: 1642291
PUBLISHER: KBV Research | PRODUCT CODE: 1642291
The Global Commercial Drones Market size is expected to reach $74.96 billion by 2031, rising at a market growth of 12.1% CAGR during the forecast period.
With the integration of sensors, cameras, and mapping technologies, drones have enabled farmers to monitor crop health, assess soil conditions, and optimize irrigation, increasing efficiency and sustainability. These drones allow precision farming, where resources like water, fertilizers, and pesticides are applied only where needed, minimizing waste and environmental impact. Hence, in 2023, the precision agriculture segment procured 14% revenue share in the market. This not only boosts crop yields but also helps in reducing operational costs. As agriculture continues to adopt more technologically advanced solutions to meet the growing food demand, drones are becoming an indispensable part of the industry, contributing significantly to their rising share in the market.
Drones play a growing role in urban safety by assisting in traffic monitoring and crowd management. By providing aerial perspectives, drones can identify potential risks and streamline operations in real-time. These capabilities are driving their adoption by government agencies and private organizations dedicated to public safety. Thus, the rising adoption of commercial drones for public safety will drive market growth. Additionally, continuous advancements in artificial intelligence (AI) and machine learning (ML) improve drones' data processing capabilities. These technologies enable real-time analysis and actionable insights, making drones a critical tool for industries aiming to optimize operations and ensure sustainability. In conclusion, the growth of advanced technology and expanded GIS and LIDAR services applications is driving the market's growth.
However, Drones pose security risks when used maliciously for spying, smuggling, or even as weapons. Governments and businesses face the challenge of preventing unauthorized drone activities, which can compromise national security and corporate confidentiality. Implementing counter-drone technologies and legal frameworks is crucial to mitigating these risks. The lack of standardized global regulations further complicates the issue. While some countries have established comprehensive guidelines for drone usage, others lag, creating inconsistencies. Therefore, security and privacy issues related to drones are hampering the market's growth.
Product Outlook
Based on product, the market is divided into rotary blade, fixed-wing, and hybrid. In 2023, the rotary blade segment garnered 62% revenue share in the market. This is because the ability of rotary blade drones to hover and perform agile manoeuvres while retaining a visual on a specific target for extended periods is expected to raise demand for inspection operations. These drones are often a good substitute for various commercial uses, including surveillance, filming, photography, and monitoring.
End-use Outlook
On the basis of end-use, the market is segmented into media & entertainment, security & law enforcement, agriculture, energy, real estate & construction, and others. The agriculture segment held 14% revenue share in the market in 2023. Due to their ability to provide real-time data on crop health, conditions of the soil, and irrigation requirements, drones have become an essential part of modern farming. These aerial devices help in precision agriculture, allowing farmers to optimize resources such as water, fertilizers, and pesticides, enhancing crop yields and reducing environmental impact. As the agriculture industry continues to seek more efficient and sustainable practices to meet global food demands, drones play a pivotal role, leading to their increasing presence in the market.
Application Outlook
By application, the market is divided into filming & photography, mapping & surveying, surveillance & monitoring, inspection & maintenance, precision agriculture, and others. In 2023, the filming & photography segment registered 27% revenue share in the market. Drones are gradually becoming essential to professional photography as photographers eagerly embrace them to gain a competitive advantage. Small drone cameras with the ability to take high-quality photographs for professional photographers are being developed by companies. Additionally, the rise of social media platforms, where visual content plays a pivotal role, further propelled the demand for drones in both professional and amateur filming, contributing to the segment's dominance in the market.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 38% revenue share in the market in 2023. This is due to advancements in drone technology, beneficial government initiatives, and rising demand from businesses in various sectors. The United States, in particular, has been a key player in the commercial drones sector, with a well-established regulatory framework, a high level of technological innovation, and significant investments in drone technology. Some regional governments are releasing new regulations to establish more consistent and reasonable criteria for the safe and lawful use of UAVs in commercial settings.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Commercial Drones Market Report Segmentation
By Product
By End-use
By Application
By Geography