New York, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Commercial Drones Global Market Report 2022" - https://www.reportlinker.com/p06240598/?utm_source=GNW
58 billion in 2021 to $ 1.78 billion in 2022 at a compound annual growth rate (CAGR) of 12.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $ 2.74 billion in 2026 at a CAGR of 11.4%.
The commercial drones market consists of sales of commercial drones.These multi-functional flying devices are used by entities to collect and consolidate data, conduct safety, and security checks and inspections.
This market mainly comprises fixed-wing drones, rotary blade drones, and hybrid wing drones supported by a variety of services and used for a variety of applications.
The main types of commercial drones are fixed-wing drones, rotary blade drones, and hybrid drones.A fixed-wing drone is a plane that doesn’t have a human pilot on the platform.
Fixed-wing UAVs can be commanded remotely by a human or autonomously by onboard systems. The different technologies include remotely operated, semi-autonomous, autonomous, and is used in agriculture and environment, media and entertainment, energy, government, construction and archaeology, others.
North America was the largest region in commercial drones market in 2021.North America is expected to be the fastest growing region in the forecast period.
The regions covered in the commercial drones market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Commercial drones are being considered by companies that have last-mile delivery as the main business process.The drones will help reduce cost per delivery and delivery time, thus increasing profits.
Therefore, increasing the growth of the commercial drone market.According to a McKinsey report, if companies save 40% of their delivery costs using drones, then they will enjoy a 15-20% increase in their profit margin and a 15-20% decrease in their product or service prices.
For example, in March 2019, Zomato, an Indian food delivery company, has conducted experiments to enable drone delivery in their value chain.
Increasing supply chain and manufacturing disruptions are limiting the sales of drones owing to the COVID19 outbreak.Drones manufacturers are struggling to meet production schedules across the world owing to the disruptions caused by coronavirus lockdowns in Chinese manufacturing systems.
According to Drone Life’s article posted in March 2020, Skydio, a US-based company engaged in assembling drones, is suffering from supply chain disruptions caused by the slowdown in the manufacturing of the parts.Moreover, many companies are experiencing slowdowns of shutdowns in manufacturing activities due to COVID19 lockdowns, which is impacting the availability of subcomponents to the assembling companies in a snowball effect.
Therefore, the disruptions in the supply chain and manufacturing disruption are expected to restrict the growth of the commercial drone market during 2020.
Drone leasing is a better offer for most companies seeking to save on drone-related investments.Many entry-level companies that do not have sufficient financial backing can aid themselves with leasing drone-related solutions rather than purchasing them at full price.
For example, Kespry and LiDARUSA are companies that focus on leasing commercial drones to other companies.
In January 2019, FLIR systems Inc., a US-based company that designs, manufactures, and markets thermal imaging and infrared camera systems, acquired Aeryon Labs for $200 million. With this acquisition, FLIR Systems will integrate its current offerings with drone technology to provide multiple solutions to many different issues. Aeryon Labs is a leading developer of high-performance unmanned aerial systems (UAS) for the global military, public safety, and critical infrastructure markets.
The countries covered in the commercial drones market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06240598/?utm_source=GNW
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