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Redding, California - January 16, 2024

Commercial Drones Market to be Worth $9.8 Billion by 2031

Commercial Drones Market by Type (Single-rotor, Multi-rotor, Fixed-wing, Fixed-wing Hybrid VTOL), Payload (Up to 2kg, 2kg to 10kg, 10kg to 25kg, More than 25kg), Application, End-use Industry, and Geography - Global Forecast to 2031

Meticulous Research^®—leading global market research company, published a research report titled, ‘Commercial Drones Market by Type (Single-rotor, Multi-rotor, Fixed-wing, Fixed-wing Hybrid VTOL), Payload (Up to 2kg, 2kg to 10kg, 10kg to 25kg, More than 25kg), Application, End-use Industry, and Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the commercial drones market is projected to reach $9.8 billion by 2031, at a CAGR of 17.2% from 2024 to 2031. The growth of the commercial drones market is driven by the rising trend of using commercial drones for capturing high-quality images and videos, the integration of Artificial Intelligence (AI) & Machine Learning (ML) into drones, and the increasing popularity of on-demand deliveries. However, drones’ limited battery life and flight duration and the lack of qualified personnel to operate and maintain drones restrain the growth of this market.

The increasing demand for BVLOS drones among enterprise customers is expected to generate significant growth opportunities for the players operating in the commercial drones market. However, unclear regulatory frameworks for drone adoption and operation are a major challenge impacting market growth.

Meticulous Research^® has segmented the commercial drones market based on type, payload, application, end-use industry, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the commercial drones market is segmented into single-rotor, multi-rotor, fixed-wing, and fixed-wing hybrid VTOL. In 2024, the multi-rotor segment is expected to account for the largest share of the commercial drones market. The segment’s large share is attributed to multi-rotor drones’ higher maneuverability, affordability, better control during flight, ability to fly extremely close to structures & buildings, and increased operational efficiency due to the ability to carry multiple payloads per flight.

Based on payload, the commercial drones market is segmented into up to 2kg, 2kg to 10kg, 10kg to 25kg, and more than 25kg. In 2024, the up to 2kg segment is expected to account for the largest share of the commercial drones market. The segment’s large share is attributed to the easy portability, lesser stringent regulatory compliances, cost-effectiveness, quicker deployment, and low operational risks of drones with up to 2kg payload.

Based on application, the commercial drones market is segmented into inspection, monitoring & management, surveying & aerial mapping, construction, photography & videography, last-mile deliveries, and other applications. In 2024, the photography & videography segment is expected to account for the largest share of the commercial drones market. The segment’s large share is attributed to its drones’ ability to facilitate creative and dynamic visual content, capture detailed images, and transmit high-resolution images and videos in real time.

Based on end-use industry, the commercial drones market is segmented into telecommunications, utilities, oil & gas, transportation, real estate & construction, agriculture, media & entertainment, government, mining, retail & e-commerce, healthcare, logistics, food & beverage, and other end-use industries. In 2024, the media & entertainment segment is expected to account for the largest share of the commercial drones market. The segment’s large share is attributed to the cost-effectiveness of drones compared to traditional methods of capturing aerial footage, drones’ ability to provide dynamic and real-time aerial perspectives for live event coverage, including sports events, concerts, and festivals, and the easy integration of drones with post-production tools and software.

Based on geography, the commercial drones market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the commercial drones market. North America’s large share is attributed to the region’s high adoption of drones for delivery applications, policy support for the adoption of commercial drones, and the increasing adoption of drones among businesses in the U.S. to bolster their competitive positions in the global market, reduce operational costs, and increase safety.

Key Players:

The key players operating in the commercial drones market include 3D Robotics, Inc. (U.S.), Aeronavics Ltd. (New Zealand), AeroVironment Inc. (U.S.), Autel Robotics (China), Wing Aviation LLC (U.S.), Guangzhou EHang Intelligent Technology Co. Ltd (China), Red Cat Holdings (Puerto Rico), AgEagle Aerial Systems Inc. (U.S.), Parrot Drone SAS (France), PrecisionHawk, Inc. (U.S.), Skydio, Inc. (U.S.), ideaForge Technology Ltd. (India), Garuda Aerospace Pvt. Ltd. (India), DELAIR SAS (France), and SZ DJI Technology Co., Ltd. (China).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5768

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, payload, application, end-use industry, and geography?
What is the historical market size for commercial drones?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the commercial drones market?
Who are the major players, and what shares do they hold in the commercial drones market?
What is the competitive landscape like?
What are the recent key developments in the commercial drones market?
What are the strategies adopted by major players in this market?
What are the key geographic trends and high-growth countries?

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Redding, California - January 16, 2024

Commercial Drones Market to be Worth $9.8 Billion by 2031

Commercial Drones Market by Type (Single-rotor, Multi-rotor, Fixed-wing, Fixed-wing Hybrid VTOL), Payload (Up to 2kg, 2kg to 10kg, 10kg to 25kg, More than 25kg), Application, End-use Industry, and Geography - Global Forecast to 2031

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