Commercial Drones Market to Reach $21.69 Billion, Globally, by 2030 at 23.7% CAGR: Allied Market Research

Rise in demand for location-based services including e-commerce sector, food delivery and shopping applications, favorable growth rate of drone industry, and technological advancements in products drive the growth of the global commercial drones market.

PORTLAND, Ore., Feb. 24, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Commercial Drones Market by Type (Fixed Wing, Rotary, and Hybrid), Mode of Operation (Remotely Operated, Semi-Autonomous, and Autonomous), and Application (Agriculture and Environment, Media and Entertainment, Energy, Government, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global commercial drones industry was pegged at $2.72 billion in 2020, and is expected to reach $21.69 billion by 2030, growing at a CAGR of 23.7% from 2021 to 2030.

Major determinants of the market growth-

Increase in the market for location-based services such as food delivery, e-commerce companies, and shopping apps, promising growth rate of the drone market and technologically advanced products have boosted the growth of the global commercial drones market. On the other hand, surge in privacy and security concerns hinder the market growth. However, increased application areas for LiDAR, GIS, mapping services, and others are expected to open new opportunities for the market players in the future.

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Covid-19 scenario-

• The outbreak of the Covid-19 pandemic and implementation of strict lockdown measures to curb the spread of the virus across the world have had a significant impact on global commercial drones.
• The commercial drone market faced several challenges such as logistics challenges, disruption in the supply chain of raw materials, partial or complete shutdown of manufacturing activities, and others due to the pandemic.
• On the contrary, commercial drone technology manufacturers had to curtail R&D investments and expansion to cope with the drop in revenue and operating performance of various companies.

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The rotary segment to dominate by 2030-

By type, the rotary segment accounted for more than two-thirds of the global commercial drones market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the high demand for rotary-type commercial drones that are being deployed for numerous commercial applications throughout the world. The hybrid segment, however, would showcase the fastest CAGR of 25.7% by 2030. Rise in demand for drones that offer a higher range and capabilities drives the growth of the segment. The report also includes an analysis of the fixed wing segment.

The remotely operated segment held the lion's share in 2020-

Based on mode of operation, the remotely operated segment held the lion's share in 2020, contributing to more than three-fourths of the global commercial drones market, and is expected to continue its lead during the forecast period. This is owing to high demand for remotely controlled drones across different industry applications worldwide. However, the autonomous segment is expected to witness the highest CAGR of 25.2% by 2030, due to the increase in investments in making self-driven commercial drones. The report also includes an analysis of the semi-autonomous segment.

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North America held the lion's share-

By region, North America dominated the market in 2020, contributing to nearly two-fifths of the global commercial drones market, due to high usage of commercial drones in the region across several applications. However, Asia-Pacific is expected to portray the highest CAGR of 25.8% during the forecast period, owing to the rise in demand for commercial drones across several nations in the country.

Major market players-

• PrecisionHawk Inc.
• AeroVironment, Inc.
• Delair
• Insitu Inc.
• Yuneec International Co. Ltd.
• SKYDIO
• Aeryon Labs Inc.
• DJI Technology Co., Ltd.
• Parrot SA
• Leptron Unmanned Aircraft Systems, Inc.

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