New York, April 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drone Servicing/Repair Global Market Report 2023" - https://www.reportlinker.com/p06229768/?utm_source=GNW
, Phoenix Drone Services, Dronedeploy, Unmanned Experts Inc., Identified Technologies, The Sky Guys, Skylark Drones Private Limited, and Edall Systems.
The global drone servicing/repair market grew from $13.14 billion in 2022 to $19.82 billion in 2023 at a compound annual growth rate (CAGR) of 50.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The drone servicing/repair market is expected to grow to $101.03 billion in 2027 at a CAGR of 50.3%.
The drone services market includes revenues earned by entities by providing services such as drone repair, drone training courses, package delivery by drones, drone advertising, and marketing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Drone services, also referred to as unmanned aerial vehicle (UAV) services are centered on flying robots that may be commanded remotely or operated autonomously utilizing software-controlled flight plans in their embedded devices.
North America was the largest region in the drone servicing/repair market in 2022.Europe was the second-largest region in the drone servicing/repair market.
The regions covered in the drone servicing/repair market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of drone servicing or repair are drone platform service, MRO, training, and education.The drone platform service companies are engaged in providing global distribution, easy monetization, and partner integrations services.
Platform service for drones develops, expands, and monetizes the apps using drone deploy capability.It includes different solutions such as enterprise solutions, and point solutions and provides short-duration service, long duration service.
It is used in aerial photography and remote sensing, data acquisition and analytics, mapping and surveying, 3D modelling, inspection and environmental monitoring, and others and is employed in various sectors such as oil and gas, agriculture, logistics, media and entertainment, and utility and power, others.
The growing adoption of precision agriculture practices is expected to drive the growth of the drone servicing or repair market in the coming years.Precision farming is a farming management approach that emphasizes the use of contemporary technology at all stages of the process.
Precision farming technologies enable the identification of heterogeneous zones as well as the management of the variability that comes with a varied field.Drones are becoming more significant in precision farming, allowing farmers to lead the way in environmentally friendly farming practices while also safeguarding and growing profits.
For instance, precision agricultural techniques, which can aid farmers in making better decisions, have advanced greatly in recent years, with the global industry expected to reach $43.4 billion by 2025. Therefore, the growing adoption of precision agriculture practices propels the growth of the drone servicing or repair market.
The growing technological advancements are an emerging trend in the drone servicing or repair market.Major companies operating in the drone servicing or repair sector are focused on developing technological solutions for drone services to strengthen their position.
For instance, in August 2021, Qualcomm Technologies Inc., a US-based provider digital wireless telecommunication products and service, unveiled Qualcomm Flight RB5 5G Platform, the world’s first drone platform and reference design with 5G and AI functionality. Based on Qualcomm Technologies’ latest IoT offerings, the Qualcomm Flight RB5 5G Platform delivers high-performance, low-power, 5G drones powered by Qualcomm QRB5165 processors. A broad range of sectors are supported by the Qualcomm Flight RB5 5G Platform, including film and entertainment, security, emergency response, delivery, defense, inspection, and mapping.
In January 2021, AgEagle Aerial Systems Inc., a US-based drone systems and solutions provider acquired MicaSense, Inc., from Parrot for $23 million. This acquisition will empower AgEagle to drive true innovation and advancements of commercial drone systems and solutions for several high-growth industry segments. MicaSense, Inc., is a US-based provider of high-quality drone-based cameras to a global market.
The countries covered in the drone servicing/repair market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The drone servicing/repair market research report is one of a series of new reports that provides drone servicing/repair market statistics, including drone servicing/repair industry global market size, regional shares, competitors with a drone servicing/repair market share, detailed drone servicing/repair market segments, market trends and opportunities, and any further data you may need to thrive in the drone servicing/repair industry. This drone servicing/repair market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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