The Drone Services Market Size was valued at USD 18.0 billion in 2023 and is expected to reach USD 100.7 billion by 2031 and grow at a CAGR of 24.0% over the forecast period 2024-2031.
Technological advances have reached far behind and have led to the development of various advanced technologies. The drone Services Market is one of the developed markets included. Drones are used for a variety of commercial purposes around the world. Drone Services are rapidly replacing other applications in the commercial sector, such as aerial surveys, film, and search and rescue.
To get more information on Drone Services Market - Request Free Sample Report
Drone Services Market share has shown full growth in these marketing applications. The use of drones in the military field to an effective role. They are used in military operations to carry out destructive missions, and searches, and to detect dangerous features and threats. The use of drones in the defense sector is driving the market growth dramatically.
The aerial research includes various wildlife surveillance programs, deforestation, and pollution beyond the group. These critical systems are in dire need of drone resources. Drones can be used longer and remotely by human users or automatically by internal computers. Drone services have expanded into various social and commercial systems due to their high endurance and low operating costs. Incorporating new technologies, such as artificial intelligence, IoT, and cloud computing, into the Drone Services Market will increase their demand in a variety of fields.
MARKET DYNAMICS
KEY DRIVERS
Safety
High-quality data requirement
Cost-effective
RESTRAINTS
Delivery risk
Lack of skill
OPPORTUNITIES
Urban region
Massive Air mobility
Less pollution due to electric drone
CHALLENGES
Safety of package
Safety of product
Hacking
THE IMPACT OF COVID-19
During the COVID-19 pandemic, drones have proven to be ideal for providing a variety of services. As a result, the Drone Services Market Value increased significantly during the pandemic period. During the pandemic, delivering essential products, medicines, and vaccines has become a concern and priority. Drones played an important role during this time, propelling the Drone Services industry Trends. Because of its widespread use in commercial and industrial sectors, the market will continue to grow at a rapid pace.
Drones are gradually demonstrating high work efficiency and productivity, from prompt delivery during peak hours and dispensing medicines and essentials to remote areas to screening in inaccessible location. Nonetheless, many countries have missed out on the potential of drone technology due to its low adoption. The pandemic's outbreak and spread have increased demand for and use of drones, as their benefits outweigh their potential risks. Drones have been used by police departments and governments all over the world to conduct remote policing and impose social distancing. Despite the fact that many law enforcement budgets have been impacted by reduced tax revenues and budget reallocations, current pilot programs are increasing drone usage.
By Type
The global market is divided into three sections based on product type: Drone Platform Services, Drone Maintenance, Repair, and Overhaul (MRO) Services, and Drone Training & Education Services. Due to rising demand, the drone Platform Services segment will hold the largest share of the Global Drone Services Market over the forecasted period. Drone Platform Services are essential for inspection, imaging, and other solutions.
By Application
The global market is divided into five applications: aerial photography and remote sensing, data acquisition and analytics, mapping and surveying, modeling, disaster risk management, and mitigation, inspection and environmental monitoring, and others. Among these sub-segments, Aerial Photography & Remote Sensing will account for the largest share of the Global Drone Services Market during the forecast period. Aerial photography and remote sensing services are in high demand across military and defense, construction, and infrastructure. In addition, due to the rising demand for environmental protection and green practices, inspection, and environmental monitoring are growing at a faster CAGR.
By Industrial Verticals
The global market is further classified into Construction & Infrastructure, Agriculture, Utility, Oil & Gas, Mining, Defense, Transport, Logistics & Warehousing, and Others. Among these sub-segments, agriculture will hold the largest share of the Global Drone Services Market during the forecast period. The factors can be attributed to the rising demand for Drone Services in countries such as India, China, and the United States. These nations produce a lot of vegetables, legumes, grains, fruits, and pulses.
By Solution
The Drone Services Market is divided into two segments: enterprise and point-based solutions. Due to its end-to-end solution and support for all industries, the enterprise segment is expected to grow at a faster CAGR during the forecast period. The point segment has dominated in recent years due to the growing demand for customized services in the industries.
By Type
Drone Platform Services
Drone Maintenance
Repair
Overhaul Services
By Industry Verticals
Utility
Power
Security
Search
Rescue
By Application
Aerial Photography
Remote Sensing
Analytics
Mapping
Surveying
By Solution
Enterprise
Point
REGIONAL ANALYSIS
The location of Drone Services Market Outlook reflects major market-covered regions, such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these regions, the North American Region is recognized for its outstanding players in this region. The European market is expected to grow slowly due to the increasing use of drones in the infrastructure industry in a large country like the UK. Asia Pacific is expected to register the highest CAGR due to the growing rate of drone’s production and the adoption of drone services in the agricultural sector.
Increased acceptance of oil test drones by leading oil and gas companies drives the Drone Services Market in the Middle East and Africa. Increasing investment by key players in the Latin American region is expected to boost the regional market.
Need any customization research on Drone Services Market - Enquiry Now
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are Phoenix Drone Services, Precision Hawk, Vermeer, Cyberhawk Innovations Ltd, Sky-Futures, DroneDeploy, DJI, Martek Aviation, Terra Drone Corporation, SHARPER SHAPE INC, and Other players
Phoenix Drone Services-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 18.0 Billion |
| Market Size by 2031 | US$ 100.7 Billion |
| CAGR | CAGR of 24.0% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Drone Platform Services, Drone Maintenance, Repair, and Overhaul (MRO) Services) • By Application (Aerial Photography & Remote Sensing, Data Acquisition & Analytics, Mapping & surveying) • By Industry Verticals (Utility & Power, Security, Search & Rescue) • By solution (Enterprise and Point) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Phoenix Drone Services, Precision Hawk, Vermeer, CYBERHAWK INNOVATIONS LIMITED, Sky-Futures, DroneDeploy, DJI, Martek Aviation, Terra Drone Corporation, SHARPER SHAPE INC, and Other players. |
| DRIVERS | • Safety • High-quality data requirement • Cost-effective |
| RESTRAINTS | • Delivery risk • Lack of skill |
The expected CAGR of the Drone Services Market is 24.0% during the forecast period of 2024-2031.
The forecast period of the Drone Services Market is 2024-2031.
The leading players in the Drone Services Market include Market Trends. Phoenix Drone Services, Precision Hawk, Vermeer, CYBERHAWK INNOVATIONS LIMITED, Sky-Futures, DroneDeploy, DJI, Martek Aviation, Terra Drone Corporation, and SHARPER SHAPE INC.
The Covid-19 pandemic impacted the Drone Services Market positively with increased numerous opportunities to expand in the market. The detailed analysis is included in the final report.
North America region dominated the Drone Services Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Drone Services Market Segmentation, By Type
8.1 Drone Platform Services
8.2 Drone Maintenance
8.3 Repair
8.4 Overhaul Services
9. Drone Services Market Segmentation, By Industry Verticals
9.1 Utility
9.2 Power
9.3 Security
9.4 Search
9.5 Rescue
10. Drone Services Market Segmentation, By Application
10.1 Aerial Photography
10.2 Remote Sensing,
10.3 Data Acquisition
10.4 Analytics
10.5 Mapping
10.6 surveying
11. Drone Services Market Segmentation, By Solution
11.1 Enterprise
11.2 Point
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Phoenix Drone Services
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Precision Hawk
13.3 Vermeer
13.4 CYBERHAWK INNOVATIONS LIMITED
13.5 Sky-Futures
13.6 DroneDeploy
13.7 SHARPER SHAPE INC.
13.8 DJI
13.9 Martek Aviation
13.10 Terra Drone Corporation
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Deployable Military Shelter Systems Market Size was valued at USD 2.0 billion in 2023 and is expected to reach USD 7.69 billion by 2032 with an emerging CAGR of 14.89% over the forecast period 2024-2032
The UAV Propulsion System Market was valued at USD 5.76 billion in 2023 and is projected to reach USD 9.66 billion by 2032, growing at a CAGR of 5.92% over the forecast period of 2024-2032.
The Aerospace Bearings Market Size was valued at USD 9.80 billion in 2023 and is expected to reach USD 19.8 billion by 2032 with a growing CAGR of 7.5% over the forecast period 2024-2032.
The Air Charter Services Market size was valued at USD 33.94 Billion in 2023 & is estimated to reach USD 53.85 Billion by 2031 and develop at a CAGR of 6% between 2024 and 2031.
The Caliber Ammunition Market size was valued at USD 25.12 billion in 2023 and is expected to reach USD 35.14 billion by 2032, growing at a CAGR of 3.8% over the forecast period of 2024-2032.
The Aircraft Wire and Cable Market size was valued at USD 1.70 billion in 2023 and is projected to reach USD 2.90 billion by 2032, growing at a CAGR of 6.2% over the forecast period of 2024–2032.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
