Commercial Drone Market 2021 – 2027 | Geography Insights and Recent Developments Analysis
Growing urge to deploy highly advanced technologies in numerous industry verticals, especially in mining, construction, agriculture, has impelled the commercial application of drones. Besides, increasing technology investments and growing digitization in multiple business sectors is further fueling the product adoption. With the significant rise in the product demand, commercial drone market is anticipated to observe a commendable growth by recording more than USD billion revenue by 2027, quoted the latest report by Global Market Insights, Inc.
The heightened product adoption is compelling various industry players to develop advanced drone technology that can cater to the consumer demands effectively. To illustrate, in 2021, FlyNex GmbH announced collaboration with KSI Data Sciences to integrate technologies in the drone that can facilitate real-time data transfer including video. Reportedly, the companies have integrated the FlyNex Enterprise Suite with the latter’s MissionKeeper platform.
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Quoting yet another instance, in 2020, the U.S. drone maker Skydio introduced a new X2 series of drones designed for government and enterprise customers. The company is also known to have raised USD 100 million in Series C funding to expedite the product development and expand its footprint into enterprise and public sector markets.
Commercial drones find wide application in remote sensing & mapping applications. This in turn makes these drones useful in agriculture sector as they can be utilized for monitoring the vegetation and nurture the farms. They offer appropriate information pertaining to crop damage assessments which allow farmers to make better decisions leading to effective crop management.
Drones usually have three modes of operation- autonomous, semi-autonomous and remote-controlled. Semi-autonomous drones are, however, are in huge demand as compared to the remote-controlled ones. This can be ascribed to the independence of this drone technology in executing a successful flight. It also reduces the dependence on human operators and facilitates the adoption of in-use drone technique. In light of these technology aspects, semi-autonomous segment is anticipated to witness a lucrative CAGR of above 10% through 2027.
Speaking of type, fixed wing drones are gaining massive traction in the market owing to their simple structure. Their simple structure ensures that they are relatively more efficient in aerodynamics, which offers the advantage of long flight durations at high speeds. Growing necessity across enterprises to make data-driven decisions in monitoring, inspection, remote sensing and mapping is fueling the product demand to a large extent.
Regionally, the industry is observing strong growth in Europe on account of increasing adoption of advanced technologies. The regional commercial drone market is expected to capture a sizeable share of 10% by 2027 with growing interest in experimenting and testing the potential uses of commercial drones among the EU nations. Various regional enterprises are now focusing on developing innovative drone technologies while undertaking strategic initiatives to strengthen their market position.
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Some of the key players operating in the market are 3D Robotics, AeroEnvironment Inc., Airobotics Ltd., BAE Systems, Cyberhawk, Delair, DJI, DroneDeploy, Ehang Inc., Guangzhou Jifei Technology Co., Ltd., Hoverfly Technologies, Inc., Intel Corporation, Kespry, Parrot SA, PrecisionHawk, Prime Air (Amazon.com, Inc.), senseFly, Walkera Technology Co., Ltd., Xiaomi Inc., and Yuneec International.
Citing an instance, in 2021, Netherlands based Acecore Technologies launched a new commercial UAV dubbed- the Zoe Zetona. The company claims that this new drone will allow operators to inspect different assets and conduct land surveying missions without obstructions.
Rising interest in technological solutions that can improve the efficiency across various sectors like agriculture, mining, construction, etc. has fostered the demand of commercial drones. On the other hand, consistent efforts by the manufacturers to develop more innovative solutions is also favoring their adoption, supporting the industry progression.
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