Commercial Drones Market to Garner .69 Billion, by 2030 with 23.7% CAGR: States Allied Market Research

The global commercial drones market is expanding rapidly due to robust demand for location-derived services involving e-commerce sector, shopping applications, and food delivery, technological advancements in products and ample growth rate of the drone sector.

Wilmington, Delaware, Oct. 25, 2023 (GLOBE NEWSWIRE) — 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.” The report states that the global market for commercial drones is projected to garner $21.69 billion by 2030, having experienced a value of $2.72 billion in 2020, with a noteworthy CAGR of 23.7% from 2021 to 2030.

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Drivers, Restraints, and opportunities:

The global commercial drones market is expanding rapidly due to robust demand for location-derived services involving e-commerce sector, shopping applications, and food delivery, technological advancements in products and ample growth rate of the drone sector. However, a rise in security and privacy concerns hamper market growth to some extent. On the contrary, increased application sectors for GIS, LiDAR, mapping services, and others will provide prolific growth opportunities in the upcoming future.

Key players profiled in the report:

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

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The rotary segment to rule the roost

In terms of type, the hybrid segment is expected to experience the fastest growth by 2030 with 25.7% CAGR. The growth is attributed to surge in demand for high range drones with huge capacity. The rotary segment, on the other hand, held the largest market revenue contributing to more than two-thirds of the overall market share and would retain its dominance in terms of revenue from 2021 to 2030. This is because of robust demand for rotary-type commercial drones that are used for several commercial applications across the world. The fixed wing segment is also analyzed in the report.

The remotely operated segment grabbed the largest share in 2020

Under the mode of operation category, the autonomous segment is projected to experience the highest growth rate with 25.2% CAGR from 2021 to 2030. The growth is attributed to the huge investments in self-driven commercial drone technology. The remotely operated segment, on the other hand, generated the highest share of more than three-fourths of the total market revenue in 2020 and will continue this trend throughout the forecast timeframe. The growth of segment is driven by high demand for remotely controlled drones in several industry applications across the world.

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North America dominated the market in the year 2020

As per the regional analysis, the APAC region would cite the fastest growth with 25.8% CAGR from 2021 to 2030, due to the increase in demand for commercial drones across numerous countries in the region. On the other hand, North America garnered the major share of nearly two-fifths of the total market revenue in 2020. The reason behind this substantial growth is extensive utilization of commercial drones in several applications across the region.

Similar Reports We Have on Drone Industry:

United States Commercial Drones Market Research Report 2023-2032

Drone-in-a-Box Solutions Market Research Report 2023-2032

Small Drones Market Research Report 2023-2032

Public Safety Drones Market Research Report 2023-2032

Drone Service Market Research Report 2023-2032

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