Global Commercial Drones Market Drivers 2024, Forecast To 2033

9 Jan, 2024

The commercial drones market has experienced rapid growth, surging from $1.95 billion in 2023 to $2.17 billion in 2024, reflecting an 11.0% CAGR. Historical growth is attributed to technological advancements, regulatory frameworks, industry-specific applications, and increased awareness. Expectations for strong growth continue, projecting the market to reach $2.88 billion in 2028, with a CAGR of 7.4%. Contributing factors include expanding use cases, integration of data analytics and AI, environmental and sustainability initiatives, increased investment and research, and urbanization.

Global Commercial Drones Market Key Driver

Companies emphasizing last-mile delivery are exploring commercial drones to cut delivery costs and time, boosting profits. A McKinsey report suggests saving 40% of delivery costs with drones can elevate profit margins by 15%–20%. Amazon initiated its Prime Air Service in California, utilizing drones to deliver packages under five pounds in less than an hour, demonstrating the potential impact of drones on the commercial drones market.

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Global Commercial Drones Market Segments

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
By Geography: The regions covered in the commercial drones market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions 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

Major Commercial Drones Industry Players

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

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Commercial Drones Market Overview

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.

Commercial Drones Global Market Report 2023 provides data on the global commercial drones market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The commercial drones market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.