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Drone Service Market Growth – at a CAGR of 46.8% | Increasing demand for drone service due to development of urban air mobility services

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Drone Service Market Growth – at a CAGR of 46.8% | Increasing demand for drone service due to development of urban air mobility services

September 17
16:00 2022
Drone Service Market Growth - at a CAGR of 46.8% |  Increasing demand for drone service due to development of urban air mobility services
Drone Service Market | Emergen Research
Drone service market size was USD 9.60 Billion in 2021 and is expected to register a revenue CAGR of 46.8%

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.

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Key Players Profiled 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.

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.

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

Key Questions Answered in the Report:

What is the growth rate of the Drone Service market? What is the anticipated market valuation of Drone Service industry by 2030?

What are the key growth driving and restraining factors of the Drone Service market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Drone Service industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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Thank you for reading our report. Please connect with us to know more about the report or for requesting the customization of the report. Our team will ensure the report is best suited to your requirements.

About Emergen Research 

At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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