Categories: Market Research

Construction Drone Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Construction Drone Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/construction-drone-global-market-report

According to The Business Research Company’s Construction Drone Global Market Report 2024, The construction drone market size has grown rapidly in recent years. It will grow from $6.01 billion in 2023 to $6.99 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to evolving regulations and guidelines, rapid urbanization, increased disaster, infrastructure development, labor shortages.

The construction drone market size is expected to see rapid growth in the next few years. It will grow to $12.27 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to adoption of 5G technology, rise of DaaS models, rise of smart cities, adaptation to remote work, growing emphasis on sustainability. Major trends in the forecast period include hybrid drone solutions, drone swarms, adoption of subscription-based models, specialized drones, AI-driven analytics.

Rapid urbanization is expected to propel the growth of the construction drone market going forward. Urbanization refers to the process of increasing population in cities due to migration and the settlement of more people there than in rural areas. Increasing urbanization increases the need for residential and infrastructural construction, which increases the demand for construction drones as they are helpful in surveying and monitoring construction work. For instance, in 2022, according to the World Bank, a US-based financial institution, over 50% of the world’s population are living in urban areas. The number is expected to increase by 1.5 times, to 6 billion, by 2045. Therefore, rapid urbanization is driving the growth of the construction drone market.

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The construction drone market covered in this report is segmented –

1) By Type: Fixed Wing Drones, Rotary Wing Drone

2) By Component: Solution, Services

3) By Application: Surveying, Inspection, Security And Surveillance, Disaster Recovery, Filming And Photography, Other Applications

4) By End User: Residential, Commercial, Industrial

Major companies operating in the construction drone market are focusing on innovative products, such as cloud-connected base stations for drones, to better meet the needs of their existing consumers. Cloud-connected base stations for drones are ground-based stations that are cloud-connected and act as communication hubs for managing and directing drone operations. For instance, in December 2022, Skydio, a US-based manufacturing firm of drone and autonomous flight technology, launched Skydio Dock and Skydio Dock Lite, powered by the latest Remote Ops software. Dock and Dock Lite are the tiny, lightest, and smartest cloud-connected drone base stations on shelves today. Skydio’s Dock solutions, built on sophisticated AI models, provide clients with comprehensive remote and autonomous insight into activities like site examination and tracking, visualization, and situational awareness inside and outdoors from anywhere in the globe.

The construction drone market report table of contents includes: