Research Nester recently published report titled “Drone Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global drone market in terms of market segmentation by type, by capability, by capacity, by components, by applications, and by regions.
The global drone market is segmented by type into fixed wing and multi rotor; by capability type into passenger drone and cargo drone; by capacity into up to 100 kg and over 100 kg; by components into airframe, payload, guidance navigation and control and propulsion system; by applications into agriculture and industry, and by regions. The market is anticipated to record a CAGR of around 40% over the forecast period i.e. 2019-2027.
Drone is contributing in providing quick delivery services to the end-user in an optimized way. They are usually adopted for logistics applications. Apart from enabling optimization, they also contribute to cost reduction, which is another key parameter driving the growth of the drone market in logistics & supply chain industry over the forecast period.
The North America drone market is estimated to witness fast growth on account of increasing adoption for innovative capturing and discovering of events through filming, video and aerial photography. The relaxation on the use of UAVs for commercial applications by the Federal Aviation Administration (FAA) is contributing to the growth of market in this region. The Asia Pacific drone market is also anticipated to witness a significant growth attributable to developing countries like China and Japan increasingly adopting automation and advanced technologies across a wide range of industries.
Increase in Demand for GIS, LiDAR, Mapping Services, and Others
Increase in demand for GIS, LiDAR, and other mapping services from various sectors such as agriculture, energy, tourism, and others drives the drone market growth. The agriculture sector is experiencing effective changes in yield production, enhanced crop health management, and improved soil condition. These changes are experienced with the implementation of LiDAR, GIS, and other mapping services. Civil engineering sector is advancing in terms of new technology adoption such as multidimensional modeling, architectural planning, and monitoring civil engineering projects. The rise in application areas is expected to drive the growth of drone market over the forecast period.
However, privacy issues and national security regulations are expected to restrict the growth of drone market. Aerial services sometimes require filming and photography in civilian areas, which affects the privacy of people. Strict government regulations regarding national security and satellite imagery as a substitute option and increasing adoption of satellite imagery are expected to hamper the growth of the market.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global drone market which includes company profiling of Parrot Drones, AeroVironment, Aeryon Labs Inc., AgEagle Aerial Systems, Agribotix LLC, Delair SAS, Parrot Drones SAS, PrecisionHawk, 3D Robotics, Inc., HoneyComb Corporation and Other Prominent Players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global drone market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.