Press release
Drone Services Market 2024-2033: Growth Trends, Forecast & Competitive Landscape
The drone services market size is expected to see exponential growth in the next few years. It will grow to $55.65 billion in 2028 at a compound annual growth rate (CAGR) of 31.0%. The growth in the forecast period can be attributed to wider integration in logistics and delivery, advancements in environmental monitoring, expanding role in public safety, precision agriculture evolution, innovation in entertainment and media. Major trends in the forecast period include development of autonomous drone operations, integration with artificial intelligence (ai) and analytics, expansion of drone services in public safety, regulatory framework development, customization for industry-specific applications.
Market Overview -
Drone services refer to a new category of services centered around flying robots that can be remotely controlled or flown on their own using embedded systems with software-controlled flight plans. Drones are used to take pictures, do aerial inspections, and easily complete many other difficult tasks.
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Commercial Drones Fueling Expansion In The Drone Services Market
The increasing use of commercial drones is expected to boost the growth of the drone services market going forward. A commercial drone refers to a drone that weighs less than 55 pounds and is designed for commercial use. Commercial drones require training and simulation, maintenance, repair, and overhaul services. Hence, the increasing use of commercial drones is expected to boost the drone service market. For instance, according to a report published by the Federal Aviation Administration, a US-based organization that issues and enforces regulations covering manufacturing, operating, and maintaining aircraft, 880,294 drones are registered in the US in 2023. 349,580 drones registered for commercial use in the US. Therefore, the increasing use of commercial drones is driving the growth of the drone services market.
Competitive Landscape -
Major companies operating in the drone services market report are Phoenix Drone Services LLC, PrecisionHawk Inc., Cyberhawk Innovations Limited, Sky-Futures Limited, Terra Drone Corporation, AgEagle Aerial Systems Inc., Aerodyne Group, Aerial Drone Services Inc., Sharper Shape Inc., Arch Aerial LLC, Australian UAV Pty Ltd., Drone Services Canada Inc., FlyGuys Inc., Measure UAS Inc., Airware Inc., Delair Tech SAS, senseFly Ltd., Kespry Inc., Uplift Data Partners Inc., Skyward IO Inc., Flyability SA, HUVRData LLC, Identified Technologies Corporation, Airobotics Ltd., Flytrex Aviation Ltd., Zipline International Inc., Volansi Inc., Flirtey Holdings Inc., Matternet Inc., Wingcopter GmbH & Co. KG, Elroy Air Inc., Vayu Group Inc., Iris Automation Inc., Quantum-Systems GmbH, Percepto Ltd.
Smart Solutions Pioneering Innovation In Drone Delivery Services
Product innovation is the key trend gaining popularity in the drone services market. Major companies operating in the drone services market are developing innovative products with advanced features to strengthen their position in the market. For instance, in April 2022, Wing Aviation LLC., a US-based company that designs, manufactures, and deploys delivery drones, launched a new drone delivery service. This service's unique characteristic is that it should make it easier for users to order health and wellness products and have them delivered by drones to their residences. Each business shall be able to simply and swiftly deploy a small, dedicated fleet from its parking lot, on its roof, or in constrained locations next to the building due to the aircraft's anticipated arrival in small containers that serve as miniature hangars.
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Key Segments -
The drone services market covered in this report is segmented -
1) By Service Type: Drone Platform Service, Drone MRO (Maintenance, Repair, and Overhaul) Service, Drone Training And Simulation Services
2) By Solution: Enterprise, Point
3) By Application: Aerial Photography And Remote Sensing, Data Acquisition And Analytics, Mapping And Surveying, Modeling, Disaster Risk Management And Mitigation, Inspection And Environmental Monitoring, Other Applications
4) By End Use Industry: Agriculture, Infrastructure, Oil And Gas, Logistic, Other End Use Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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