Commercial Drone Market Expands Vigorously at a CAGR of 57% by 2030

Introduction

Commercial drones operate in the same way that personal drones do. They are outfitted with flight control computers and sensors to hover and perform programmed movements. On the other hand, commercial drones can do more than hover or fly back and forth. Commercial drones are outfitted with high-definition thermal cameras that allow the pilots to see what the drone sees in real-time. Furthermore, some drones can stay in the air for hours and fly hundreds of feet. Commercial drone use is now legal in the United States and many other countries worldwide. Commercial drone use in the United States, on the other hand, is strictly regulated by the Federal Aviation Administration (F.A.A.).

Market Dynamics

Widescale Usage of Drone and the Growing Emphasis on the Development of UAVs to Drive the Market

The successful design of small remote-controlled aircraft has become the most popular commercial industry worldwide. Several countries' economies benefit significantly from the commercial drone industry. Agriculture, mining, surveying, oil and gas, and power generation have experienced significant growth. As a result of extensive research and development efforts by key players, this industry is expected to grow exponentially. Due to such advancements, drones, payloads, and software systems have become less expensive.

In addition, technological advancements in unmanned systems are expected to impact the drone industry significantly. In 2021, an IIT Hyderabad scientist designed and built an uncrewed aerial vehicle that could handle packets of various sizes and shapes. Skydio 2, a product launched in the United States by Skydio, Inc in 2019, was sold out on the same day. Patent holders' ideas for potential future drone technologies may influence UAV usage in the future. Such technologies include hydrogen-powered drones, improved computer vision, environmental awareness, and self-charging.

Growing Demand from the Energy Industry Creates Lucrative Opportunities for Commercial Drones

As outlined in a recent North American Electric Reliability Corporation (NERC) Lesson Learned, drones, or unmanned aircraft systems, are more commonly used in the energy sector. Drones can aid energy companies in improving productivity and safety by accomplishing high-risk or time-consuming duties like extensive storm damage surveys, substation/switching station and line inspections, wind farms, line fixing, power plant and gas pipeline reviews, and security architecture.

Participants in the energy sector involved in using drones should know the Federal Aviation Administration's (F.A.A.) extensive regulation of their procedure. Energy firms that want to use drones weighing less than 55 pounds to assist their operations must adhere to the F.A.A.'s Small U.A.S. Rule (14 C.F.R. Part 107) controls the commercial use of military drones and contains location and time of operation restrictions. These are vital resources for society to work.

Moreover, since a drone can access and record information, many drone applications are ideal for maximizing processes in the energy sector. As a result, the market for using drones for energy is projected to be valued at USD 6 billion. Hence, it provides immense potential for the global commercial drone market to flourish. 

Regional Insights

North American commercial drone market occupied the largest market share. It is estimated to reach a predicted value of USD 370 billion by 2030 at a CAGR of 55.4%. This is due to rising demand in the United States and Canada from numerous businesses and sectors. Key firms such as 3D Robotics, GoPro Inc, and Autel Robotics have a prominent presence in the United States, contributing to regional income growth. 

Asia-Pacific is the fastest-growing region. It is estimated to reach a predicted value of USD 465 billion by 2030 at a CAGR of 61.3%. The favorable regulatory framework is expected to fuel the regional market, mainly developed countries. Several governments in the region are continually attempting to create new legislation for commercial drone use. Several start-up companies around the area are experimenting with new commercial drone uses and striving to improve drone safety.

Key Highlights

• The global commercial drone market share was valued at USD 20.8 billion in 2021. It is expected to reach USD 1,205 billion by 2030, growing at a CAGR of 57% during the forecast period (2022–2030).
• Based on the product, the global commercial drone market is segmented into Fixed-Wing, Rotary Blade, and Hybrid. Rotary Blades occupied the largest market share of the global commercial drone market. It is expected to reach USD 872 billion by 2030, generating a CAGR of 54.5%. The rotary blade Unmanned Aerial Vehicle (UAV) drones generate vertical lift by rotating rotor blades around a central mast, forcing air downwards and propelling the aircraft into the air.

• Based on application, the global commercial drone market is segmented into Filming and Photography, Inspection and Maintenance, Mapping and Surveying, Precision Agriculture, Surveillance and Monitoring, and Others. Filming and Photography applications occupied the largest market share of the global commercial drone market. It is expected to reach USD 357.5 billion by 2030, generating a CAGR of 55.31%. Drone photography allows human photographers to capture photographs and audio/video that would otherwise be impossible.

• Based on end-user, the global commercial drone market is segmented into Agriculture, Delivery and Logistics, Energy, Media and Entertainment, Real Estate and Construction, Security and Law Enforcement, and Others. Media and Entertainment dominated the market. It is estimated to reach a value of USD 260 billion by 2030 at a CAGR of 53.5%. It consists of film, print, radio, and television. These segments include movies, T.V. shows, radio shows, news, music, newspapers, magazines, and books.

• Based on region, the market for a global commercial drone is segmented into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. Asia-Pacific is the fastest-growing region.

Competitive Players

1. 3D robotics
2. Aeronavics
3. Aero Vironment Inc
4. Autel Robotics
5. Draganfly Innovations Inc
6. Ehang
7. FLIR Systems, Inc
8. GoPro, Inc
9. Holy Stone
10. PrecisionHawk Inc
11. Intel Corporation
12. Kespry Inc
13. Parrot Drones SAS
14. SenseFly SA
15. Skydio
16. SZ DJI Technology Co., Ltd
17. Yuneec Holding Limited

Recent Developments

Recent Developments

• In December 2022, a New Flight Facility for Land Mine and Anomaly Detection Protocols was Launched by Draganfly.
  In December 2022, Drone Harmony expanded the open platform capabilities of the Parrot ANAFI Ai.
• In September 2022, The debut of the newest VAPOR® Helicopter unmanned aircraft system (UAS), the VAPOR 55 MX, was announced by AeroVironment, Inc. (NASDAQ: AVAV), a leader in intelligent, multi-domain robotic systems.

Segmentation

1. By Product
   1. Rotary Blade
   2. Fixed-Wing
   3. Hybrid
2. By Application
   1. Commercial
      
      1. Filming & Photography
      2. Inspection & Maintenance
      3. Mapping & Surveying
      4. Precision Agriculture
      5. Surveillance & Monitoring
      6. Others
   2. Government & Law Enforcement
      1. Firefighting & Disaster Management
      2. Search & Rescue
      3. Maritime Security
      4. Border Patrol
      5. Police Operations
      6. Traffic Monitoring
      7. Others
3. By Propulsion Type
   1. Gasoline
   2. Electric
   3. Hybrid
4. By Operation Mode
   1. Remotely Piloted
   2. Partially Piloted
   3. Fully Autonomous
5. By End-User
   1. Agriculture
   2. Delivery and Logistics
   3. Energy
   4. Media and Entertainment
   5. Real Estate and Construction
   6. Security and Law Enforcement
   7. Others
6. By Component
   1. Hardware
   2. Software
7. By Range
   1. Visual Line of Sight (VLOS)
   2. Extended Visual Line of Sight (EVLOS)
   3. Beyond Visual Line of Sight (BVLOS)
8. By Endurance
   1. <5 Hours
   2. 5-10 Hours
   3. >10 Hours
9. By Maximum Takeoff Weight
   1. Remotely Piloted
   2. Partially Piloted
   3. Fully Autonomous
10. By Function
    1. Passenger Drones
    2. Inspection & Monitoring Drones
    3. Surveying & Mapping Drones
    4. Spraying & Seeding Drones
    5. Cargo Air Vehicles
    6. Others