COMMERCIAL DRONES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The Commercial Drones market is estimated to be valued at USD 22.29 Bn in 2024, growing at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.

The commercial drone market has experienced significant growth over the past few years and is expected to witness substantial expansion in the coming years. Commercial drones, also known as unmanned aerial vehicles (UAVs), are seeing increasing adoption across various industry verticals for applications like delivery, agriculture, infrastructure inspection, and filmmaking. The ability of commercial drones to capture aerial images and videos cost-effectively is boosting their utilization. Additionally, ongoing technological advancements like increased payload capacity and flight time are further expanding the capabilities of these drones. However, strict regulations around drone operations and privacy continue to pose challenges to the commercial drone market.

Market Dynamics:

The global commercial drone market is driven by factors such as the growing adoption of drones across industries, technological advancements, and increased investments from top companies. Drones are increasingly being used for applications like deliveries, inspections, surveillance, and aerial photography due to their benefits over traditional methods. Recent innovations focused on improving flight time, payload capacity, and autonomy are also fueling the market growth. However, stringent regulations around drone operations and privacy continue to restrain the market. Conversely, the development of urban air mobility and cargo delivery services present high opportunities for commercial drone vendors. In addition, growing demand for drone data analytics solutions is expected to create new avenues in the coming years.

Key features of the study:

• This report provides an in-depth analysis of the global commercial drone market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global commercial drone market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Lockheed Martin Corporation, Northrop Grumman., The Boeing Company, BAE Systems PLC, Airbus S.A.S., FLIR Systems, Inc., Aero Vironment, Inc., Textron Inc., Aeryon Labs Inc., General Atomics, Thales, Quantum Systems, Elistair, Delair, DJI, Ehang, The Holospace, Korea Aerospace Industries, Hanwha Aerospace, Israel Aerospace Industries, Elbit Systems Ltd., and Aeronautics Defense Systems Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global commercial drone market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global commercial drone market.

Market Segmentation

• By Type
  • Fixed Wing Drone
  • Rotary Blade Drone
  • Hybrid Drone
• By Maximum
  • Less than 2 KG
  • Between 2–5 KG
  • More than 5 KG
• By Duration
  • Less than 30 Min
  • More than 30 Min
• By Range
  • Short (<25 Kilometers)
  • Long (25 Kilometers)
• By Application 
  • Aerial Photography
  • Agriculture
  • Emergency and Disaster Management
  • Inspection & Monitoring
  • Remote Sensing & Mapping
  • Wildlife Research & Preservation
• By Region 
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Key Players Insights
  • Lockheed Martin Corporation
  • Northrop Grumman.
  • The Boeing Company
  • BAE Systems PLC
  • Airbus S.A.S.
  • FLIR Systems, Inc.
  • Aero Vironment, Inc.
  • Textron Inc.
  • Aeryon Labs Inc.
  • General Atomics
  • Thales
  • Quantum Systems
  • Elistair
  • Delair
  • DJI
  • Ehang
  • The Holospace
  • Korea Aerospace Industries
  • Hanwha Aerospace
  • Israel Aerospace Industries
  • Elbit Systems Ltd.
  • Aeronautics Defense Systems Ltd.