Commercial Drone Market Size, Share | Global Forecast

Overview and Scope
Commercial drone refers to unmanned aerial vehicles that are used for industrial and business purposes. These multi-functional flying devices are used by entities to collect and consolidate data and conduct safety and security checks and inspections.

Sizing and Forecast
The commercial drones market size has grown rapidly in recent years. It will grow from $1.95 billion in 2023 to $2.17 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to technological advancements, regulatory frameworks, industry-specific applications, growing awareness.

The commercial drones market size is expected to see strong growth in the next few years. It will grow to $2.88 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to expanding use cases, data analytics and ai integration, environmental and sustainability initiatives, investment and research, urbanization and infrastructure development. Major trends in the forecast period include increased adoption in various industries, technological advancements, use of drones in e-commerce and delivery, rise of drone-as-a-service (daas) model.

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Segmentation & Regional Insights
The commercial drones market covered in this report is segmented –

1) By Type: Fixed wing drones, Rotary blade drones, Hybrid drones
2) By Technology: Remotely Operated, Semi-Autonomous, Autonomous
3) By Application: Agriculture and environment, Media and entertainment, Energy, Government, Construction & archaeology, Others

North America was the largest region in commercial drones market in 2023. North America is expected to be the fastest-growing region in the commercial drones market during the forecast period. The regions covered in the commercial drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Commercial drones are being considered by companies that have last-mile delivery as their main business process. The drones will help reduce the cost per delivery and delivery time, thus increasing profits. Increasing the growth of the commercial drones market. According to a McKinsey report, if companies save 40% of their delivery costs using drones, then they will enjoy a 15%–20% increase in their profit margin and a 15-20% decrease in their product or service prices. For example, in June 2022, Amazon.com, Inc., a US-based web service provider and online retailer, started Prime Air Service in California, the USA. Using drones, Amazon’s Prime Air service is expected to deliver packages weighing up to five pounds in less than an hour. Customers in Lockeford, California, and College Station, Texas, will be able to use the service.

Key Industry Players
Major companies operating in the commercial drones market include SZ DJI Technology Co. Ltd., Parrot SA, AeroVironment Inc., PrecisionHawk Inc., Draganfly Inc., 3D Robotics Inc., AsTec, XAIRCRAFT Technology Co. Ltd., ZeroTech Robotics, Yamaha Motor Co. Ltd., Lockheed Martin Corporation, Yuneec International Co. Ltd., DroneDeploy Inc., senseFly Ltd., Insitu a Boeing Company, Kespry Inc., LiDARUSA, EHang Holdings Limited, Delair, Nutel Communications Pvt Ltd, CyPhy Works Inc., Aerialtronics (Note: The company is now part of DroneMatrix), GoPro Inc., FLIR Systems Inc., Intel Corporation, Skycatch Inc., Raptor Maps Inc., DroneBase Inc., Cape Analytics Inc., Drone Volt, Cyberhawk Innovations Ltd, Flytrex Aviation Ltd., Volansi Inc., Flirtey, Skyfront, Vaayu Drones

The commercial drones market report table of contents includes:

1. Executive Summary

2. Commercial Drones Market Characteristics

3. Commercial Drones Market Trends And Strategies

4. Commercial Drones Market – Macro Economic Scenario

5. Global Commercial Drones Market Size and Growth

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31. Global Commercial Drones Market Competitive Benchmarking

32. Global Commercial Drones Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Commercial Drones Market

34. Commercial Drones Market Future Outlook and Potential Analysis

35. Appendix