The smart commercial drones global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Commercial Drones Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart commercial drones market size has grown exponentially in recent years. It will grow from $11.65 billion in 2023 to $14.51 billion in 2024 at a compound annual growth rate (CAGR) of 24.6%. The growth in the historic period can be attributed to increase in demand for aerial surveillance, increase in regulatory changes facilitating commercial drone use, increase in e-commerce, rise in the need for cost-effective inspection and monitoring solutions, rise in interest in precision agriculture, and increase in use in environmental monitoring.
The smart commercial drones market size is expected to see exponential growth in the next few years. It will grow to $35.23 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to increasing demand for efficient delivery services, rising adoption of precision agriculture, growing need for infrastructure inspection and monitoring, expanding applications in law enforcement and disaster management, increasing use in environmental monitoring and conservation, and rising popularity of aerial cinematography in entertainment and media. Major trends in the forecast period include advancements in AI and machine learning, integration of IoT sensors and real-time data analytics, advancements in battery life and payload capacity, adoption of drone swarming technologies, and advancements in sensor technologies.
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Scope Of Smart Commercial Drones Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Commercial Drones Market Overview
Market Drivers –
The expansion of the e-commerce industry is expected to propel the growth of the smart commercial drone market going forward. The e-commerce industry refers to the buying and selling goods and services over the internet. It encompasses a wide range of activities, including online retail stores, digital marketplaces, auction sites, and online platforms for services. The expansion of the e-commerce industry is due to its convenience, global reach, increased internet penetration, diverse product selection, and cost efficiency. Smart commercial drones play a crucial role in enhancing the efficiency and effectiveness of e-commerce operations, contributing to faster delivery times, improved customer satisfaction, and reduced operational costs. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, in 2023, e-commerce sales were projected to reach $1,118.7 billion, marking a 7.6% (±1.2%) increase from 2022, while total retail sales saw a 2.1% (±0.4%) rise over the same period. In 2023, e-commerce sales constituted 15.4% of total sales, compared to 14.7% in 2022. Therefore, the expansion of the e-commerce industry drives the growth of the smart commercial drone market.
Market Trends –
Major companies operating in the smart commercial drone market are focused on developing innovative products such as remote drone surveillance technology (RDST) integrated cargo drones to enhance navigation, safety, and efficiency in commercial drone operations. RDST enables drones to monitor their surroundings, avoid obstacles, maintain communication with ground control, and adapt to changing environmental conditions during flight. For instance, in September 2023, A2Z Drone Delivery, a US-based commercial drone delivery solutions developer, launched RDST Longtail, a second-generation RDST integrated cargo drone. It features A2Z’s factory-integrated RDS2 drone winch, allowing payloads up to 5 kg to be safely deposited from altitude, keeping spinning rotors away from people and property. The upgraded platform aims to help scale commercial drone delivery applications by offering an off-the-shelf, ready-to-fly delivery drone with enhanced capabilities.
The smart commercial drones market covered in this report is segmented –
1) By Type: Fixed-Wing, Multirotor, Others Types
2) By Component: Airframe, Payload, Guidance, Navigation And Control, Propulsion System
3) By Application: Delivery Drones, Agriculture Monitoring, Oil And Gas, Law Enforcement, Disaster Management, Entertainment, Media And Mapping, Networking For Remote Areas, Environmental Drones, Other Applications
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Regional Insights –
North America was the largest region in the smart commercial drones market in 2023. The regions covered in the smart commercial drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the smart commercial drones market are Intel Corporation , Northrop Grumman Corporation, Yamaha Motor Co. Ltd., EHang Holdings Limited, Elbit Systems Ltd , Israel Aerospace Industries, General Dynamics Mission Systems Inc. , Hindustan Aeronautics Limited (HAL), Shenzhen DJI Sciences and Technologies Ltd , Yuneec International, AeroVironment Inc. , Insitu Inc., Aurora Flight Sciences Corporation, Zipline International Inc., Parrot SA, Autel Robotics Co. Ltd., Quantum-Systems GmbH, 3D Robotics Inc, Swellpro Technology Co. Ltd, Aeryon Labs Inc., Kespry Inc., Percepto Ltd., Draganfly Innovations Inc., Skycatch Inc. , Bots & Drones
Table of Contents
1. Executive Summary
2. Smart Commercial Drones Market Report Structure
3. Smart Commercial Drones Market Trends And Strategies
4. Smart Commercial Drones Market – Macro Economic Scenario
5. Smart Commercial Drones Market Size And Growth
…..
27. Smart Commercial Drones Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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