09 May 2022
Visiongain has published a new report entitled the Drone Service Market Report 2022-2032: Forecasts by Solution (End-to-End Solution, Point Solution), by Type (Platform Service, Maintenance Repair Overhaul (MRO), Simulation & Training), by Application (Inspection & Monitoring, Mapping & Surveying, Spraying & Seeding, Filming & Photography, Transport & Delivery), by Industry (Defence & Law Enforcement, Media & Entertainment, Construction & Infrastructure, Consumer Industry, Agriculture, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global drone services market was valued at US$13,987 million in 2021 and is projected to grow at a CAGR of 19.8% during the forecast period 2022-2032.
Insurance Claims from Natural Disasters has Climbed Eight-Fold. Insurance Companies Will Most Likely Adopt Drone Technology
The average global annual cost of insurance claims from natural disasters has climbed eight-fold. Insurance companies will most likely adopt drone technology to perform faster and more accurate property assessments as a result of this. After a tragedy, enterprise drones can travel to hard-to-reach regions quickly. They can then take exact photographs and videos of the damage, which can then be sent back to mobile devices for real-time assessment. Finally, drones can assist claims adjusters in processing property much more quickly than they could manually.
Safety Concerns Regarding Commercial and Passenger Flights
Due of safety concerns from commercial and passenger flights, the US federal government has enacted strict laws for operating unmanned aircraft vehicles, or drones. To avoid serious accidents caused by drones or unmanned aerial vehicles (UAVs), some critical regulations have been put in place. Drones can only fly or carry people inside a one-kilometre radius, according to the authorities. Drones were also prohibited from flying at night or during periods of low light, and their altitude was limited to 400 metres. These factors stifle market expansion.
How has COVID-19 had a significant negative impact on the Drone Services Market?
Drone usage is quickly rising, and sales of drones are increasing year after year. COVID-19 changed how markets operate, and the ramifications and fallout of the epidemic have brought the world economy to a halt. Drones are changing the last-mile delivery business by delivering crucial pharmaceuticals to distant places and rural communities throughout the world. During such epidemics, there is also a desire for no-contact delivery. Pharma businesses are focused on novel and safe medicine delivery tactics, as well as increasing their reach through collaboration with drone delivery service providers. During COVID-19, it is critical to transfer patient samples to laboratories for testing as soon as possible, since this allows physicians to make treatment decisions more swiftly and improves patient outcomes.
How this Report Will Benefit you?
Visiongain’s 507-page report provides 281 tables and 271 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global drone services market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Drone Services. Get the financial analysis of the overall market and different segments including platform type, application, industry, service and capture higher market share. We believe that high opportunity remains in this fast-growing drone services market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Growing Demand for Aerial Photography and 3D Scanning in Building Information Modelling (BIM) to Aid Growth
Due to the widespread availability of low-cost drones, high-resolution photography has become popular for a variety of purposes. In huge township projects, multi-story building projects, and smart city projects, aerial photography provides a broader perspective. As a result, market growth is being driven by increased demand from the real estate and infrastructure industries. Drones use camera sensors and 3D scanning for BIM applications, which is propelling the drone services market forward. During the forecast period, the market for drone technology services is expected to grow due to an increase in the popularity of drones, particularly in advertisement and documentary production around the world.
Drone Has High Demand in Security Services
Drones in security applications have the advantage of being able to access remote and difficult-to-reach sites faster than hired employees. This is especially beneficial in facilities with inadequate employee protection, such as major industrial operations or places with expensive merchandise stored at a distance.
The emergence of FLIR (Forward Looking Infrared) and other night vision imaging tools, as well as their price reductions in recent years, has reduced the barrier to security teams conducting surveillance after dark. Drones with night vision lenses are available at a reasonable cost, allowing facility security to monitor gloomy areas from a fixed station.
Where are the market opportunities?
Tedious Human Labour will Decrease
Drones' capacity to transport a range of external sensors to remote regions for data collecting is likely to open up new prospects for the drone data service business. Farmers, for example, can collect data such as humidity in their crop region using unusual sensors on drones. They can utilise this data to strategically distribute water and minimise over-fertilization and watering to reduce environmental impact. Drones are also handy for getting to places that are difficult to reach by foot. Drones are a safer approach to collect data in such situations than deploying a real human.
Expanding Urbanization and Awareness about Technology
The global population accounted for 56.9% of the urban population in 2022. With the expanding urban population, transportation infrastructure must be well-managed in order to allow for mass mobility. As a result, cities all over the world are exploring for alternative modes of transportation to alleviate traffic congestion. The use of autonomous drones in urban air mobility is intended to cut pollution levels, reduce travel time, and relieve load on current transportation systems. Dubai, Singapore, Los Angeles, and Dallas are among the cities that have begun to test Urban Air Mobility initiatives. Because they make travelling secure and enjoyable, air taxis are predicted to be a promising sector in the approaching period.
The major players operating in the drone services market are Terra Drone Corporation, Cyberhawk Innovations Limited, Sky Futures, Delta Drone, AgEagle Aerial Systems Inc., DroneDeploy, ABJ Drones, Airpix, Sitemark, Skylark Drones, Sharper Shape, GarudaUAV, Landpoint, SkyX, Phoenix LiDAR Systems, Airobotics, Zipline, Aerodyne Group, Sensefly Ltd, PrecisionHawk, These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Notes for Editors
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