Global Drone Service Market was valued at US$ 3.5 Bn in 2019 and is expected to reach US$ 18 Bn by 2026, at a CAGR of 22.72% during the forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Global Drone Service Market Dynamics
Drones can substitute traditional methods of operation in many business activities. This development took place after the Federal Aviation Administration extended permission for commercial, non-hobbyist usage of drones. With a minimum human operation and no safety infrastructure, drones can decrease time and costs. It can also increase data analytics, which allows companies to better understand and calculate operating performance. In some industries, drones will be even enabling new business models and opportunities.
As drone hardware is becoming more expensive to produce and purchase this becomes one of the limitation of the market. Instead, services that work and manage drones for companies will produce most of the value. End-user companies will turn over services that operate drones, manage maintenance, and manage drone data, to third parties. For example, telecommunications companies may end up selling drone data communications services for managing drones and transmitting the data which they are collecting.
Growing applications of drone services across several industries is one of the major driving factors which is contributing to the growth of the global drone services market during the forecast period. However, lack of skilled and trained workers and safety concerns during drone operations are the major factors restraining the growth of the global drone services market during the forecast period.
Global Drone Service Market Regional insights
North America is dominating the market with near about 44% share in the global market. In the U.S. more than 325,000 drones were registered in the FAA, and it is expected that more than 5 million drones will be shipped to the U.S. by 2026. Europe being the second largest market with more than 30% share in the global drone services market.
Growth in the drone services market shows considerable potential, with European demand for drone services, the market is projected to exceed US$ 7 billion by 2035 and over US$ 14 billion by 2050. In the Asia Pacific, Australia occurred as a hotspot for the drone service market and is the fastest-growing market in the Asia Pacific.
Global Drone Service Market, Key Highlights:
• Global Drone Service Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Drone Service Market
• Global Drone Service Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Drone Service Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Drone Service Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Drone Service Market are also profiled.
Scope of the Global Drone Service Market: Inquire before buying
Global Drone Service Market by Type:
• Multirotor Drone
• Fixed Wing Drone
Global Drone Service Market by Service Type:
• Long Duration Service
• Short Duration Service
Global Drone Service Market by Application:
• Disaster Risk Management & Mitigation
• Mapping & Surveying
• Aerial Photography & Remote Sensing
• Product Delivery
• Data Acquisition & Analytics
• Inspection & Environmental Monitoring
• 3D Modeling
• Other Applications
Global Drone Service Market by Industry:
• Oil & Gas
• Scientific Research
• Utility & Power
• Media & Entertainment
• Security, Search & Rescue
• Other Industries
Global Drone Service Market by Geography:
• North America
• Latin America
• Middle East & Africa
Global Drone Service Market Key PlayersG
• Drone Deploy
• ABJ Drones
• AeroVironment Inc.
• Sky-Future Ltd.
• Hawk Aerial
• SenseFly Ltd.
• Cyberhawk Innovations Ltd.
• Trimble UAS
• Precision Hawk
• CAT UAV
• 3D Robotics, Inc.
• Agribotix LLC
• Parrot SA
• PrecisionHawk, Inc.
• Propeller Aerobotics Pty Ltd.
• Skycatch, Inc.
• Arch Aerial Llc
• Edall Systems
• Falcon Drone Services
• Phoenix Drone Services Llc
• Prioria Robotics Holdings Inc.
• Sharper Shape Inc.
• Unmanned Experts Inc
About This Report
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.