Commercial Drone Market Size, Share & Trends Report

Commercial Drone Market Size, Share & Trends Analysis Report By Product, By Application, By End-use, By Propulsion Type, By Range, By Operating Mode, By Endurance, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-482-6
  • Number of Report Pages: 171
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the commercial drone market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for commercial drone market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of commercial drone market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Commercial Drone Market Categorization:

The commercial drone market was categorized into nine segments, namely product (Fixed wing, Hybrid, Rotary blade), application (Commercial, Government & Law Enforcement), end-use (Agriculture, Delivery & Logistics, Energy, Media & Entertainment, Real Estate & Construction, Security & Law Enforcement), propulsion type (Gasoline, Electric, Hybrid), range (Visual Line of Sight, Extended Visual Line of Sight, Beyond Visual Line of Sight), operating mode (Remotely Piloted, Partially Piloted, Fully Autonomous), endurance (<5 Hours, 5 - 10 Hours, >10 Hours), maximum takeoff weight (<25 Kg, 25 - 500 Kg, >500 Kg), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The commercial drone market was segmented into product, application, end-use, propulsion type, range, operating mode, endurance, maximum takeoff weight, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The commercial drone market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Ireland, Sweden; Denmark; Norway; Finland; China; Australia; Japan; South Korea; Brazil; Mexico; UAE; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Commercial drone market companies & financials:

The commercial drone market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Aeronavics Ltd. - Aeronavics Ltd., based in New Zealand, specializes in the design and manufacturing of industrial aerial robotics solutions, exporting its products globally. The company primarily focuses on providing aerial robotics systems for applications such as mapping and surveying, asset inspection, professional cinematography, and various service sector uses. Aeronavics Ltd. offers a comprehensive range of products, including airframes and parts, clearance items, transport cases, ready-to-fly packages, miscellaneous accessories, FLIR cameras, and motors. The company's market presence extends through an extensive network of distributors worldwide, facilitating the accessibility of its innovative aerial robotics solutions to a diverse clientele. With a commitment to quality and cutting-edge technology, Aeronavics Ltd. continues to play a pivotal role in meeting the evolving demands of industries requiring advanced aerial robotics capabilities.

  • AeroVironment Inc. - AeroVironment Inc., established in 1971 and headquartered in the United States, specializes in the design and manufacturing of small Unmanned Aircraft Systems (UAS) for both commercial and military applications. With nearly 700 employees dispersed globally, the company operates through its UAS business segment, producing small UAS equipped with real-time video capabilities, including infrared or electro-optical sensors. These UAS serve various purposes such as reconnaissance, surveillance, tracking, and providing geographic data to ground units. Additionally, through its Efficient Energy Systems (EES) business segment, AeroVironment manufactures PosiCharge fast-charge systems for industrial equipment batteries and Electric Vehicles (EV), along with EV testing systems widely utilized by the automobile, military, and utility sectors. The company has established strategic partnerships with industry leaders like Lockheed Martin Corporation, collaborating on the advanced "Global Observer" project aimed at delivering persistent airborne observation capabilities. AeroVironment also owns Skytower, Inc., holding government approval to deploy drones as high-altitude communications relay platforms or atmospheric satellites, offering enhanced fixed broadband local access capacity compared to traditional geostationary satellites. As a publicly traded entity listed on NASDAQ under AVAV, AeroVironment continues to play a crucial role in advancing unmanned aerial technology and energy-efficient systems.

  • Autel Robotics - Founded in 2014 and headquartered in Bothell, Washington, Autel Robotics is a U.S.-based company specializing in the design and manufacturing of drones and aerial photography devices. With a focus on providing solutions for filming, photography, and aerial imaging applications, Autel Robotics has gained prominence in the drone market. The company's products are available through a variety of online retailers, including notable platforms such as Best Buy, Amazon, DroneNerds, and others, facilitating widespread distribution and accessibility to consumers. Autel Robotics not only offers drones but also provides a range of accessories to enhance the user experience. These accessories include a battery charging hub, a hard case for secure transportation, an on-the-go bundle catering to users' mobility needs, and propellers for maintenance and replacement. As a key player in the drone industry, Autel Robotics continues to contribute to the advancement of aerial technology, providing innovative solutions for professionals and enthusiasts engaged in filming, photography, and various other applications.

  • DJI - Established in 2006, DJI stands as a prominent Chinese manufacturer specializing in the production of commercial and recreational drones designed for aerial photography and videography. The company has become a leading force in the drone industry, offering an extensive range of commercial drones, accessories, and payloads to cater to various needs. DJI's diverse product portfolio includes popular drone series like Phantom, Inspire, Ronin, and Spreading Winds, showcasing its commitment to innovation and technological advancement. In addition to drones, DJI provides an array of essential accessories and attachments to enhance the capabilities of their unmanned aerial vehicles. These include aerial gimbals, flight controllers, flame wheels, and propulsion systems. The company's global reach extends beyond its headquarters in China, with over 1,400 employees serving customers worldwide. DJI has established international offices in key locations, including the United States, Germany, Japan, South Korea, the Netherlands, and multiple cities in China, such as Beijing, Shanghai, and Hong Kong. With a focus on cutting-edge technology and a widespread global presence, DJI continues to shape the landscape of the drone industry.

  • Draganfly Innovations Inc. - Established in 1998, Draganfly Innovations is a renowned Canadian commercial drone company at the forefront of developing and manufacturing cutting-edge drone technology. The company specializes in a diverse range of products, including multi-rotor drones, industrial aerial video drones, civilian small UAVs, and wireless video systems. Draganfly's innovative solutions find applications across various sectors, including public safety, aerial photography, industrial inspection, and education. Beyond its drone offerings, Draganfly Innovations extends its product line to include helicopters, helicopter parts, and wireless video systems, available for purchase online. This comprehensive suite of products caters to the evolving needs of industries seeking advanced aerial solutions. In a significant development, Draganfly Innovations became a subsidiary of Trace Live Network Inc. in 2015 following its acquisition. Trace Live Network Inc., a manufacturer specializing in live stream camera network systems, added Draganfly to its portfolio, enhancing its capabilities in the drone and UAV sector. Today, Draganfly Innovations continues to operate as a vital component of Trace Live Network Inc., contributing to the advancement of drone technology and its widespread applications in various fields.

  • EHang, Inc. - Founded in 2014, EHang, Inc., based in China, has emerged as a prominent player in the development and manufacturing of aerial systems and drones catering to both commercial and recreational applications. EHang boasts an extensive product lineup that includes EHANG184, EHANG Egret, EHANG Falcon commercial drones, and GHOSTDRONE consumer drones, showcasing the company's commitment to offering diverse aerial solutions. EHang's innovative drones serve a range of purposes, meeting the demands of various industries and enthusiasts alike. With a strategic focus on expanding its global reach, EHang has established a network of authorized dealers spanning countries across the Asia Pacific and European regions. This network enhances accessibility to EHang's cutting-edge aerial devices and solutions, fostering the company's presence in key markets. The company's dedication to advancing drone technology for both commercial and recreational users positions EHang as a key player in the rapidly evolving drone industry, with its products contributing to the transformation of aerial capabilities and applications around the world.

  • Intel Corporation - Intel Corporation, a prominent U.S.-based technology company, is a key player in the development and manufacturing of microprocessors and semiconductor processors. Intel's impact extends across a diverse spectrum of computing applications, ranging from desktops, servers, and notebooks to smartphones, tablets, wireless, and wired connectivity products. The company's influence is felt in critical sectors such as transportation systems, wearables, and retail devices, reflecting its pervasive presence in the technology landscape. Intel Corporation operates through various strategic business segments, including the Data Center Group (DCG), Client Computing Group (CCG), Non-Volatile Memory Solutions Group (NSG), Internet of Things Group (IoTG), and Programmable Solutions Group (PSG). Within the 'All Other' segment, Intel has established the New Technology Group (NTG), focusing on innovative products tailored for emerging markets, including cameras, drones, wearables, and other evolving segments. This diversified approach underscores Intel's commitment to staying at the forefront of technological advancements, addressing a broad spectrum of consumer and industrial needs. The company's ongoing pursuit of cutting-edge technologies aligns with its vision of shaping the future of computing across various domains.

  • Parrot Drones SAS - Established in 1994, Parrot Drones SAS stands as a leading developer, manufacturer, and marketer of cutting-edge wireless products with a focus on diverse commercial markets. The company operates across three key segments, showcasing its versatility in addressing various industry needs. The Automotive segment is dedicated to providing a comprehensive range of infotainment solutions and wireless communication systems tailored for automobiles. In the Civil Drones (UAVs) segment, Parrot excels in delivering retail quadricopters and professional solutions, demonstrating its prowess in unmanned aerial vehicle technology. Furthermore, the Connected Objects segment expands the company's influence into sound systems and gardening-related products, showcasing its commitment to innovation across diverse domains. Parrot Drones SAS boasts a global presence with over 1,000 employees stationed at its headquarters in France and other strategic regions. This workforce is instrumental in serving the dynamic and evolving global market. As a testament to its prominence, Parrot SAS is publicly listed on Euronext Paris, further affirming its position as a key player in the realm of wireless technology and commercial solutions. The company's multidimensional approach underscores its commitment to advancing technology across automotive, drone, and connected objects domains.

  • PrecisionHawk Inc. - Based in the United States, PrecisionHawk Inc. specializes in the manufacturing and sale of Unmanned Aerial Vehicles (UAVs) and farm drones. The company extends its services to a diverse array of markets, including commercial, agriculture, energy, mining, oil, gas, insurance, emergency response, railroad, infrastructure, forestry, utility, and environmental monitoring, with a predominant focus on the U.S. PrecisionHawk offers a comprehensive suite of solutions, encompassing UAV tracking and monitoring software, advanced analysis tools, flight services, and training packages. These offerings underline the company's commitment to providing holistic solutions for industries seeking cutting-edge aerial technologies. Notably, PrecisionHawk Inc. has secured a substantial total funding amounting to USD 104 million, attesting to its significance and financial backing in the rapidly evolving UAV and drone sector. The company's strategic positioning and diverse service portfolio position it as a key player in the landscape of UAV technology, with a profound impact across various industries in the U.S. and beyond.

  • YUNEEC - YUNEEC, headquartered in Shanghai, China, is a leading drone manufacturer that specializes in producing a diverse range of aerial vehicles. The company's product offerings include radio-controlled drones, manned electric aircraft, radio-controlled electric-powered airplanes, micro copters, helicopters, and multi-copters. Catering to both hobbyists and professionals, YUNEEC stands out with its extensive line of radio-controlled aircraft tailored for the hobby market. Beyond manufacturing, the company provides comprehensive services, including repair services, general parts and accessories, and customer support. YUNEEC's global presence spans Europe, North America, and Asia, solidifying its position as a prominent player in the drone industry. Notably, the company boasts an impressive production capacity, manufacturing over 1 million units of drones annually. These drones are sold under the widely recognized Typhoon brand of multi-copters and through various OEM/ODM brands, contributing to YUNEEC's influence in the rapidly expanding market for unmanned aerial vehicles.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Commercial Drone Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Commercial Drone Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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