PUBLISHER: Meticulous Research | PRODUCT CODE: 1576694
PUBLISHER: Meticulous Research | PRODUCT CODE: 1576694
Commercial Drones Market by Type (Single-rotor, Multi-rotor, Fixed-wing, Fixed-wing Hybrid VTOL), Payload (Up to 2kg, 2kg to 10kg, 10kg to 25kg, More than 25kg), Application, End-use Industry, and Geography-Global Forecast to 2031.
The research report titled, 'Commercial Drones Market by Type (Single-rotor, Multi-rotor, Fixed-wing, Fixed-wing Hybrid VTOL), Payload (Up to 2kg, 2kg to 10kg, 10kg to 25kg, More than 25kg), Application, End-use Industry, and Geography-Global Forecast to 2031', provides an in-depth analysis of the commercial drones market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.
The commercial drones market is projected to reach $9.8 billion by 2031, at a CAGR of 17.2% from 2024 to 2031.
The growth of this market is driven by the rising trend of using commercial drones for capturing high-quality images and videos, the integration of Artificial Intelligence (AI) & Machine Learning (ML) into drones, and the increasing popularity of on-demand deliveries. However, drones' limited battery life and flight duration and the lack of qualified personnel to operate and maintain drones restrain the growth of this market.
The increasing demand for BVLOS drones among enterprise customers is expected to generate significant growth opportunities for the players operating in the commercial drones market. However, unclear regulatory frameworks for drone adoption and operation are a major challenge impacting market growth.
Meticulous Research(R) has segmented the commercial drones market based on type (single-rotor, multi-rotor, fixed-wing, and fixed-wing hybrid VTOL), payload (up to 2kg, 2kg to 10kg, 10kg to 25kg, and more than 25kg), application (inspection, monitoring & management, surveying & aerial mapping, construction, photography & videography, last-mile deliveries, and other applications), end-use industry (telecommunications, utilities, oil & gas, transportation, real estate & construction, agriculture, media & entertainment, government, mining, retail & e-commerce, healthcare, logistics, food & beverage, and other end-use industries), and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the commercial drones market is segmented into single-rotor, multi-rotor, fixed-wing, and fixed-wing hybrid VTOL. In 2024, the multi-rotor segment is expected to account for the largest share of 35% of the commercial drones market. The segment's large market share can be attributed to the benefits offered by multi-rotor drones, such as superior maneuverability, affordability, precise flight control, capability to operate closely around structures and buildings, and enhanced operational efficiency due to its capability to carry multiple payloads per flight.
Based on payload, the commercial drones market is segmented into up to 2kg, 2kg to 10kg, 10kg to 25kg, and more than 25kg. In 2024, the up to 2kg segment is expected to account for the largest share of the commercial drones market. The segment's large market share can be attributed to the easy portability, fewer regulatory requirements, cost-effectiveness, quick deployment, and reduced operational risks associated with drones carrying payloads up to 2kg.
Based on application, the commercial drones market is segmented into inspection, monitoring & management, surveying & aerial mapping, construction, photography & videography, last-mile deliveries, and other applications. In 2024, the photography & videography segment is expected to account for the largest share of the commercial drones market. The segment's large market share is attributed to drones' capability to enable creative and dynamic visual content, capture detailed images, and transmit high-resolution images and videos in real time.
Based on end-use industry, the commercial drones market is segmented into telecommunications, utilities, oil & gas, transportation, real estate & construction, agriculture, media & entertainment, government, mining, retail & e-commerce, healthcare, logistics, food & beverage, and other end-use industries. In 2024, the media & entertainment segment is expected to account for the largest share of 26% of the commercial drones market. This segment's large market share can be attributed to the cost-effectiveness of drones compared to traditional aerial filming methods, their capability to offer dynamic and real-time aerial perspectives for live event coverage such as sports events, concerts, and festivals, and their seamless integration with post-production tools and software.
Based on geography, the commercial drones market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 36% of the commercial drones market. North America's significant market share can be attributed to the widespread adoption of drones for delivery applications, supportive policies promoting commercial drone use, and increasing adoption by U.S. businesses to enhance global competitiveness, reduce operational costs, and improve safety measures.
The key players operating in the commercial drones market include 3D Robotics, Inc. (U.S.), Aeronavics Ltd. (New Zealand), AeroVironment Inc. (U.S.), Autel Robotics (China), Wing Aviation LLC (U.S.), Guangzhou EHang Intelligent Technology Co. Ltd (China), Red Cat Holdings (Puerto Rico), AgEagle Aerial Systems Inc. (U.S.), Parrot Drone SAS (France), PrecisionHawk, Inc. (U.S.), Skydio, Inc. (U.S.), ideaForge Technology Ltd. (India), Garuda Aerospace Pvt. Ltd. (India), DELAIR SAS (France), and SZ DJI Technology Co., Ltd. (China).
Commercial Drones Market Assessment-by Type
Commercial Drones Market Assessment-by Payload
Commercial Drones Market Assessment-by Application
Commercial Drones Market Assessment-by End-use Industry
Commercial Drones Market Assessment-by Geography
(Note: SWOT analysis of the top 5 companies will be provided.)