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Rapid adoption of drones for commercial applications and technological advancements in drones are some of the key factors driving market revenue growth

VANCOUVER, BC, CANADA, June 2, 2022 /EINPresswire.com/ -- The global smart commercial drones market size is expected to reach USD 985.61 Billion in 2028 and register a revenue CAGR of 79.8% over the forecast period, according to the latest report by Emergen. Rapid adoption of drones for commercial use and technological advancements in commercial drones are some key factors driving revenue growth of the global smart commercial drones market.

Smart commercial drones are technologically advanced and have features such as audio and video recording facilities. High Definition (HD) cameras and sensors as well as range of drone cameras visibility has improved, which is resulting in rapid adoption of these aircraft across various industries and sectors. Some of these include chemicals, media and entertainment, building and construction, agriculture, search and rescue, law and order, sports events, and others. In addition, these small pilotless aircraft or Unmanned Aerial Vehicles (UAVs) are gaining traction and deployment due to multipurpose areas of application and advantages, including monitoring and surveillance, disaster management, filming for movie production, and others. Advancements in drone technology and addition of new innovative and more advanced features, communication and connectivity, and enhanced navigation capabilities are key factors expected to continue to drive revenue growth of the global smart commercial market during the forecast period.

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Key Highlights From the Report
In August 2021, Qualcomm Technologies, Inc. introduced “Qualcomm Flight RB5 5G platform” for drones. This is stated to be world’s first ever 5G and Artificial Intelligence (AI) drone platform to offer powerful heterogeneous computing with low power consumption and long-range connectivity that supports camera frequency. This innovative advancement in drone technology is expected to open up more lucrative opportunities for deploying drones in a range of other areas and fields going ahead.

The fixed-winged segment accounted for a significantly large revenue share in 2020 due to increasing adoption of drones for aerial surveillance and monitoring. Beside aerial monitoring of COVID-19 affected areas, rising cross-border tensions are resulting in defense spending being allocated for security and surveillance of border areas and sensitive areas between borders, and demand for fixed-winged smart drones has been increasing owing to suitability of this type due to longer fly time at higher altitude and capability to carry more weight that other drone types.

The delivery & logistics segment accounted for a significantly large revenue share in 2020 due to rising demand for different smart commercial drones in the logistics and transportation sector. Technological advancements and development of smarter features have led to increasing use of drones for various applications in the transportation sector, and the trend is expected to continue over the forecast period.

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Key Companies Profiled in the Report: AeroVironment, Inc., Da-Jiang Innovations (DJI), Parrot Drone SAS, 3D Robotics (3DR), Elbit Systems Ltd., HUVRData, LLC, XAIRCRAFT Technology Co., Ltd., Yamaha Motor Co., Ltd., DraganFly Innovations Inc.

Emergen Research has segmented the global smart commercial drones market on the basis of type, component, application, end use, and region:
Type Outlook (Revenue, USD Million, 2018–2028)
Fixed-Wing
Multi-Rotor
Helicopters
Others

Component (Revenue, USD Million, 2018–2028)
Payload
Guidance, Navigation & Control
Propulsion System

Application Outlook (Revenue, USD Million, 2018–2028)
Delivery & Logistics
Agriculture Monitoring
Security & Law Enforcement
Disaster Management
Mapping
Film Making
Networking for Remote Areas
Environmental Drones
Others

End Use Outlook (Revenue, USD Million, 2018–2028)
Transport & Logistics
Agriculture
Oil & Gas
Entertainment & Media
Real Estate & Construction
Others

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Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Dynamics:
The report offers insightful information about the market dynamics of the Smart Commercial Drones Market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Smart Commercial Drones Market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Flame Retardant Plastics market.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.emergenresearch.com/industry-report/smart-commercial-drones-market/toc

Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Smart Commercial Drones Market Segmentation & Impact Analysis
4.1. Smart Commercial Drones Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rapid advancement in electronic drone technologies
4.2.2.2. Growing use of drones for monitoring industrial operations
4.2.3. Market restraints analysis
4.2.3.1. Issues associated with data processing
4.2.3.2. Stringent government regulations regarding drone usage
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis

Chapter 5. Smart Commercial Drones Market By Type Insights & Trends, Revenue (USD Million)
5.1. Type Dynamics & Market Share, 2021 & 2028
5.1.1. Fixed-Wing
5.1.2. Multi-Rotor
5.1.3. Helicopters
5.1.4. Others

Chapter 6. Smart Commercial Drones Market By Component Insights & Trends Revenue (USD Million)
6.1. Component Dynamics & Market Share, 2021 & 2028
6.1.1. Payload
6.1.2. Guidance, Navigation & Control
6.1.3. Propulsion System

Chapter 7. Smart Commercial Drones Market By Application Insights & Trends Revenue (USD Million)
7.1. Application Dynamics & Market Share, 2021 & 2028
7.1.1. Delivery & Logistics
7.1.2. Agriculture Monitoring
7.1.3. Security & Law Enforcement
7.1.4. Disaster Management
7.1.5. Mapping
7.1.6. Film Making
7.1.7. Networking for Remote Areas
7.1.8. Environmental Drones
7.1.9. Others

Chapter 8. Smart Commercial Drones Market By End Use Insights & Trends Revenue (USD Million)
8.1. End Use Dynamics & Market Share, 2021 & 2028
8.1.1. Transport & Logistics
8.1.2. Agriculture
8.1.3. Oil & Gas
8.1.4. Entertainment & Media
8.1.5. Real Estate & Construction
8.1.6. Others

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Finally, all aspects of the Smart Commercial Drones Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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Smart Commercial Drones Market Size Worth USD 985.61 Billion in 2028