Drones Market - Growth, Trends, and Forecast (2020 - 2025)

The drones market is anticipated to register a CAGR of 15. 37% during the forecast period to reach USD 47. 76 billion by 2025. - For several years, the drone market was in a nascent phase with a lack of adoption into the commercial sector.

New York, April 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drones Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05881491/?utm_source=GNW
Initially viewed as a military device, the drones have established a significant presence in the commercial world over the past five years.
- Over the years, with hundreds of exemptions from the governing bodies like FAA and EASA, demand for drones have emerged from various industries, like infrastructure, agriculture, transport, entertainment, security, insurance, and many more. Hence, enterprise drones are expected to register higher growth during the forecast period compared to consumer drones.
- Advancements in drone technologies have allowed the manufacturers to produce a wide range of models in different sizes, weights, and shapes that can carry different sensor payloads, making them favorable across a broad application base.
- However, the lack of regulations and restrictions on the flying of drones beyond the visual line of sight in several countries across the world have restrained the market growth to its full potential. Other factors, like security and safety concerns, and scarcity of trained pilots are also anticipated to challenge the growth of the drone market to certain extent.

Key Market Trends
Construction Segment Held the Largest Market Share in 2019

In 2019, the construction segment held the largest market share. The proliferation of drones has revolutionized the operational processes in the construction industry. Drones are rapidly replacing the traditional land-surveillance methods, as they offer a significant reduction in labor and time to capture the necessary data while eliminating the scope of human error. Drones are being increasingly utilized to perform visual inspection of high-risk areas of a construction site. The efficiency of on-site communication and management is also bolstered by the ability to collect real-time data from drones. Drones also help engineers and surveyors carry out inspection of high-rise structures and visualize project progress through aerial shots. Drones also provide site managers with an overview of potential issues and facilitate the key decision-making to streamline operations at a construction site. The increasing demand has encouraged the drone manufacturers to manufacture drones, made specifically for the construction industry. For instance, in October 2018, DJI launched the Phantom 4 RTK for surveying and mapping at the European Drone Summit in Frankfurt, Germany. The drones are designed for ensuring significant improvement in the surveying, mapping, and inspection. German construction giant, STRABAG, has publicly shown its interest on Phantom 4 RTK for aerial data for 3D modeling to reduce costs and improve operational efficiencies. Also, in April 2018, DroneDeploy Inc. launched its construction solution that allows users to intuitively plan photo flights, automatically capture corner images, immediately create a visual timeline of a job site, and generate a replicable weekly progress report. Such developments helped the market to witness a higher demand from the construction segment in the year studied.

Asia-Pacific Region to Experience the Highest Growth During tthe Forecast Period

The Asia-Pacific region is anticipated to have the highest growth during the forecast period. The recent changes in drone regulations in several countries across the region are expected to support the growth of the market. China has become the global hub for drone industry manufacturing over the past six years. About 70% of the world’s civilian drone market is supported by China, with about 1,200 drone manufacturers at the start of 2019 (up from 130 manufacturers in 2013). The Government of China is providing various subsidy schemes and other favorable domestic policies for drone purchases to promote the adoption of drones in industrial sectors. The growing application areas of drones is simultaneously propelling the demand for these UAVs in China. Hobbyist drones have dominated the Chinese drones market in the past. However, increasing demand for drones for monitoring, inspection, surveying and surveillance application in construction, agriculture, infrastructure, energy, telecommunications, mining, and insurance industries is propelling the growth of the commercial segment of the drones. On the other hand, Japan’s UAV market segments (consumer, enterprise, and military) are expected to witness rapid growth, in terms of technology and procurement. The government recently implemented new regulations for drones and their users, which are expected to support the Japanese drone market in the future. The government took initiatives to improve the country’s forefront in the commercial drone industry and reach its goal to offer drone delivery in Tokyo by 2020. The government announced to get a streamlined registry system by 2022, in order to offer more opportunities for drones. The consumer market for the Japanese drones is also witnessing growth. The enterprise (commercial) segment is expected to witness higher levels of growth in the years to come. The security firms engaged in surveillance and the construction companies conducting on-site inspections are expected to increase their usage of drones. In addition,Australia is a major hub in Asia-Pacific, which has a rising importance for BVLOS testing. As of July 2019, there were more than 1,200 drone operators in Australia. These operators are rapidly developing technologies and services to support the larger drone ecosystem. The supportive drone regulations in Australia introduced by the Civil Aviation Safety Authority (CASA), in support of many domestic and international players, is helping the penetration of drone usage into many applications. By virtue of such factors, the market in the Asia-Pacific is expected to grow at a rapid pace during the forecast period.

Competitive Landscape
Some of the prominent players in the market are SZ DJI Technology Co. Ltd (DJI), The Boeing Company (Insitu), Terra Drone Corporation, Intel Corporation, BirdsEyeViewAerobotics, Parrot Drones SAS, Yuneec, and Delair SAS. The market comprises of a handful of established players, who enjoy a strong foothold in the market. SZ DJI Technology Co. Ltd (DJI) is one such company, that controls a significant amount of market share. However, there are many small companies and startups which have entered the market in the past few years, due to the high profitability of the industry. The companies are competing to gain market share and are developing advanced technology-integrated drone hardware and software solutions that reduce the human effort in applications, such as mining, construction, and aerial mapping, among others. Additionally, the entry of companies, like Boeing, Alphabet, and Intel, into the commercial sector of drones is expected to make the market fragmented over the coming years.

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