Drone Service Market Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2030
Rising demand for drone services for industry-specific solutions and time-efficient delivery services is a key factor driving global drone service growth
VANCOUVER, BC, CANADA, August 3, 2022 /EINPresswire.com/ -- The Global Drone Service Market size was USD 9.60 Billion in 2021 and is expected to register a revenue CAGR of 46.8%, during the forecast period, according to the latest analysis by Emergen Research. Rising demand for drone services for geographical surveillance and time-efficient delivery services, is a major factor driving global drone service market revenue growth. In addition, increasing demand for aerial photography & videography is another factor driving revenue growth of the market. Moreover, rising demand for cost-efficient industrial solutions and increase in need for affordable, easy implementation and high-value-added customized systems for distinct requirements are driving market revenue growth.
Drones manufacturers are producing customized drones for various purposes such as warehouse management, capturing, aerial imagery analyzation, logistics, oil & gas, and others. Furthermore, high-quality data is required by companies in agricultural, construction, mining, and other sectors, hence satellites and helicopters were the only sources to rely on to collect photogrammetric and geospatial data to continue business operations. Drones contain high technology image processing software and Global Positioning System (GPS) system, which helps to capture detailed information and high-quality image at a very low height. However, incorporation of new technologies is increasing demand for drone services.
However, privacy and cybersecurity concerns about using drone services and lack of insurance cover for aerial delivery drones are factors expected to restrain market revenue growth.
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The report further explores the key business players along with their in-depth profiling, product catalog, and strategic business decisions. The key players studied in the report are Aerodyne Group, AgEagle Aerial Systems Inc., CYBERHAWK, Matternet, Phoenix Drone Services LLC, Terra Drone Corporation, SenseFly, DroneDeploy, Precision Hawk, Sky Futures, Unmanned Experts Inc., and Agribotix LLC.
Some Key Highlights in the Report
The platform service segment is expected to expand at a significantly rapid CAGR during the forecast period due to organizations increasing emphasis on protecting platforms for drone services and providing valuable information to customers.
The filming & photography segment is expected to register a significantly robust revenue growth rate over the forecast period. Digital conversion leads construction and infrastructure industries to acquire drone services to collect digital data for asset management. Increasing aerial photography and filming applications coupled with rising demand for collection of data for different projects are driving demand for drone services.
The North America market is expected to account for a larger revenue share than other regional markets over the forecast period due to increasing demand for high-quality data across various industries including agricultural, construction, mining, gas, oil, and many others in countries in the region. Besides, presence of some major companies, such as Precision Hawk Innovations Ltd., Aerodyne Group, and others, are driving drone service market growth.
On 24 May 2021, Aerodyne Group, AI & Robotics Venture Company Ltd. and Digital Creation Co., Ltd. announced a joint venture company’s launch, AeroSky (Thailand) Company Ltd., which lead to drone-based infrastructure inspection solutions for Thailand based infrastructure industry.
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Emergen Research has segmented the global drone service based on type, duration, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019–2030)
Platform Service
Training and Education
Maintenance Repair Overhaul
Others
Duration Outlook (Revenue, USD Billion; 2019–2030)
Short Duration Service
Long Duration Service
Application Outlook (Revenue, USD Billion; 2019–2030)
Remote Sensing and Monitoring
Aerial Photography and Filming
Mapping & Surveying
Spraying & Seeding
Transport & Delivery
Security, Search, and Rescue
Medical Aids
Others
End-Use Outlook (Revenue, USD Billion; 2019–2030)
Defense and Homeland Security
Agriculture
Building, Construction, and Infrastructure
Media and Entertainment
Healthcare
Transport, Logistics, and Warehousing
Others
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Regional Outlook (Revenue, USD Billion; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Israel
Rest of Middle East & Africa
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