Driven by the advancement of remote sensing and surveillance technologies, and favorable government guidelines regarding the utilization of drones across industries, the Global Commercial Drones Market is forecasted to Cross US$ 30 Bn by 2028 says Ken Research Study.
Drones are basically aircraft that can be controlled remotely or fly autonomously by utilizing software-controlled flight information in their embedded systems. Commercial drones are basically used for specific tasks, including cargo delivery, inspection, mapping, and more. Most commercial drones include an infrared camera, which provides useful thermal imaging for location search, surveying, and rescue services. Most commercial drones are equipped with the necessary payloads and safety equipment, such as extra lighting and parachute systems.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
- Commercial Drones Market Has Seen Significant Market Growth after a Rise in Labour Shortage in 2020.
The Global Commercial Drones Market is expected to witness stable growth during the forecast period, owing to the development of remote sensing technologies, as well as the increasing labor shortage caused by factors, such as the aging population, low wages, and immigration disruption in the COVID-19 pandemic. The global commercial drone market was valued at ~US$ 5 billion in 2017, it is estimated to be ~US$ 12 billion in 2022 and is expected to reach a market size of ~US$ 30 billion by 2028 growing with a CAGR of ~15% during the forecast period (2022-2028).
North America dominated the Global Commercial Drones Market in 2021, primarily due to the increased utilization of high-tech equipment across industries, and rising government expenditure to support the expansion of UAVs/drones is fueling the region’s market growth.
2. Advancements in Remote Sensing and Surveillance Technologies Acts as a Major Growth Driver for the Global Commercial Drones Market
Continuous advances in component, sensing technology, and size have accelerated the growth of automation and monitoring systems, including UAVs/drones, which utilize a number of tools and methods to forecast data and ensure higher productivity, reliability, increased performance, and reduced operating costs. Furthermore, the steadily increasing focus on improving field efficiency and productivity has increased the demand for agricultural UAVs/drones to grow more and better products by making better use of resources such as soil, water, nutrient solution, chemicals, and so on. In addition, the advancement in sensing technologies helps in ensuring that the crop and soil receive appropriate care. So, farmers will then be able to plan their actions or activities accordingly. Similarly, they help support the construction industry by providing real-time construction data viewing, accurate imaging and infrastructure inspection, reducing personnel risks and accidents, and cost-effective photography and videography.
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3. Higher Cost Associated with Drones, And Individuals’ Disinclination To Adapt Advanced Technologies Around Them Are Expected To Stifle Market Growth
The high costs associated with UAVs/drones are confining the market growth, as they are mainly embedded with expensive autonomous functionalities that operate using AI-powered navigation and operational software that raise the finished cost of a product. Furthermore, the continued use of traditional techniques, including truck and manual processes for monitoring, surveying, mining, crop spraying, equipment tracking, and more indicates that the portfolio of drones has yet to capture the potential customer base.
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