by Market Overview:
Drones offer a quick and efficient means of delivering goods such as medicines, parcels and food. Their autonomous navigation abilities allow for contactless delivery that is gaining importance during the ongoing pandemic.
Market key trends:
One of the major trends in the drone service market is the rising adoption of drones for delivery services. The convenience and contactless nature of drone deliveries has increased their usage during the pandemic. Several e-commerce giants are actively testing drone delivery programs to deliver packages within 30 minutes. Drone delivery services can help reduce delivery time and costs significantly. The ease of drone operations is also encouraging more companies to utilize drones for delivery of emergency medicines, and parcels in remote areas.
One key trend in the Drone Service Market is the rising adoption of drones for aerial photography and videography services. With advancements in drone and camera technology, drones are able to capture high-quality aerial footage and images which are being used by various industries such as real estate, media & entertainment, construction, etc. Drones provide an efficient and cost-effective method for aerial imaging compared to traditional methods.
The global Drone Service Market Demand is estimated to be valued at US$ 12.57 Bn in 2023 and is expected to exhibit a CAGR of 39. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Drones offer a safe, cost-effective and efficient method for aerial services compared to manned aircrafts. They can access hazardous and hard to reach areas.
Weakness: Strict regulations around drone operations and privacy issues limit their widespread adoption. They also have short battery back up.
Opportunity: Growing industries like infrastructure, agriculture, and insurance which present opportunities for drone usage. Technological advancements increasing payload, range and battery capacity of drones.
Threats: Development of alternatives like high-resolution satellite imagery and manned aircraft. Weather conditions affect drone flight.
Key Takeaways
The global Drone Service Market is expected to witness high growth, exhibiting CAGR of 39.% over the forecast period, due to increasing infrastructure projects globally. Drones help construction companies monitor progress, inspect works, and collect data faster.
Regionally, North America accounts for the largest share in the drone service market owing to early adoption and rapid technological advancement. However, Asia Pacific is expected to grow at the fastest pace due to rising construction projects, increasing agricultural activities, and government support for drone usage in various sectors across China and India.
Key players operating in the Drone Service Market are Unmanned Experts Inc., Aerodyne Group, Terra Drone Corporation, Cyberhawk, Sharper Shape, Dronedeploy, Sensefly, Edall Systems, PrecisionHawk, and Phoenix Drone Services LLC. These companies offer an array of drone services including aerial photography, inspection, mapping & surveying, and others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
