PUBLISHER: The Business Research Company | PRODUCT CODE: 1546587
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546587
Smart commercial drones are unmanned aerial vehicles (UAVs) that incorporate advanced technologies such as artificial intelligence (AI), integration with the internet of things (IoT), and autonomous capabilities. These drones are specifically tailored for industrial and commercial uses, enhancing efficiency, safety, and operational capabilities across sectors such as agriculture, infrastructure inspection, and delivery services.
In the smart commercial drones market, the primary types include fixed-wing, multirotor, and others. Fixed-wing drones are sophisticated UAVs designed for various commercial applications. They consist of components such as airframes, payloads, guidance, navigation and control systems, and propulsion systems. Applications range widely, encompassing delivery services, agriculture monitoring, oil and gas operations, law enforcement, disaster management, entertainment and media, mapping, network connectivity in remote areas, environmental monitoring, and more.
The smart commercial drones market research report is one of a series of new reports from The Business Research Company that provides smart commercial drones market statistics, including the smart commercial drones industry global market size, regional shares, competitors with smart commercial drones market share, detailed smart commercial drones market segments, market trends, and opportunities, and any further data you may need to thrive in the smart commercial drones industry. These smart commercial drones market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart commercial drones market size has grown exponentially in recent years. It will grow from $11.65 billion in 2023 to $14.51 billion in 2024 at a compound annual growth rate (CAGR) of 24.6%. The growth observed in the historic period was driven by a surge in demand for aerial surveillance, regulatory changes enabling commercial drone usage, expansion of e-commerce, increased need for cost-effective inspection and monitoring solutions, growing interest in precision agriculture, and heightened use in environmental monitoring.
The smart commercial drones market size is expected to see exponential growth in the next few years. It will grow to $35.23 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. Anticipated growth in the forecast period is attributed to the rising demand for efficient delivery services, increased adoption of precision agriculture techniques, growing necessity for infrastructure inspection and monitoring, expanded applications in law enforcement and disaster management, heightened use in environmental monitoring and conservation efforts, and growing popularity of aerial cinematography in entertainment and media. Key trends expected in the forecast period include advancements in AI and machine learning, integration of IoT sensors and real-time data analytics, improvements in battery life and payload capacity, adoption of drone swarming technologies, and enhancements in sensor technology.
The growth of the smart commercial drone market is expected to be driven by the expanding e-commerce industry. E-commerce refers to the online buying and selling of goods and services, encompassing activities such as online retail stores, digital marketplaces, auction sites, and service platforms. This growth is fueled by factors such as convenience, global accessibility, increased internet penetration, diverse product offerings, and cost-effectiveness. Smart commercial drones enhance e-commerce operations by improving delivery speed, customer satisfaction, and operational efficiency. For instance, in February 2024, the United States Census Bureau reported that e-commerce sales in 2023 reached $1,118.7 billion, up 7.6% from 2022, constituting 15.4% of total sales, compared to 14.7% in 2022.
Leading companies in the smart commercial drone market are focusing on innovation, particularly in technologies such as Remote Drone Surveillance Technology (RDST) and integrated cargo drones, to enhance safety, navigation, and operational efficiency. RDST allows drones to monitor surroundings, avoid obstacles, maintain communication with ground control, and adapt to changing environmental conditions during flight. For instance, A2Z Drone Delivery launched the RDST Longtail in September 2023, equipped with advanced features such as the RDS2 drone winch for safe payload delivery.
In April 2024, TCOM L.P., a US-based aerospace company specializing in ISR solutions, acquired Equinox Innovative Systems to expand its portfolio in tethered and untethered unmanned aircraft systems (UAS). This acquisition enhances TCOM's capability to offer comprehensive products across various sectors, including aerospace, defense, and commercial industries. Equinox Innovative Systems is known for manufacturing drones that serve diverse operational needs within these sectors.
Major companies operating in the smart commercial drones market are Intel Corporation, Northrop Grumman Corporation, Yamaha Motor Co. Ltd., EHang Holdings Limited, Elbit Systems Ltd, Israel Aerospace Industries, General Dynamics Mission Systems Inc., Hindustan Aeronautics Limited (HAL), Shenzhen DJI Sciences and Technologies Ltd, Yuneec International, AeroVironment Inc., Insitu Inc., Aurora Flight Sciences Corporation, Zipline International Inc., Parrot SA, Autel Robotics Co. Ltd., Quantum-Systems GmbH, 3D Robotics Inc, Swellpro Technology Co. Ltd, Aeryon Labs Inc., Kespry Inc., Percepto Ltd., Draganfly Innovations Inc., Skycatch Inc., Bots & Drones
North America was the largest region in the smart commercial drones market in 2023. The regions covered in the smart commercial drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart commercial drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart commercial drones market consists of revenues earned by entities by providing services such as transporting goods, crop health monitoring and soil analysis, inspecting oil rigs, pipelines, and infrastructure, and surveillance and crowd monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart commercial drones market also includes sales of quadcopters, thermal imaging cameras, proximity sensors, real-time kinematic (RTK) GPS systems, central processing units, lithium polymer (LiPo) batteries, and motors and propellers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Commercial Drones Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart commercial drones market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart commercial drones ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart commercial drones market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.