According to a new report, published by KBV research, The Global Commercial Drones Market size is expected to reach $74.96 billion by 2031, rising at a market growth of 12.1% CAGR during the forecast period.
The Fixed-wing segment is experiencing a CAGR of 13.1% during (2024 - 2031). These drones excel in applications like precision agriculture, mapping and surveying, environmental monitoring, oil and gas inspections, and disaster management. Their extended flight times and ability to operate in challenging environments made them indispensable for industries requiring vast area coverage and high-resolution data. Advancements in payload capacity and autonomous navigation further boosted their adoption across various commercial sectors.
The Media & Entertainment segment is leading the Global Commercial Drones Market by End-use in 2023; thereby, achieving a market value of $17.51 billion by 2031. Drones have revolutionized the media and entertainment industries by enabling the capture of dynamic aerial footage that would otherwise require costly and complex equipment like helicopters or cranes. This has widespread use in film production, television shows, live events, and commercials. The ability of drones to provide stunning cinematic shots from unique perspectives has made them a popular choice for content creators, further contributing to their dominant position in the market.
The Surveillance & Monitoring segment exhibits a CAGR of 11.1% during (2024 - 2031). Drones are increasingly being deployed in urban areas for surveillance, offering a cost-effective and efficient real-time solution to monitor large areas. They are also used for border surveillance, event security, and wildlife monitoring, among other applications. The ability to provide high-definition video feeds and thermal imaging has made drones indispensable for security operations. Moreover, drones are essential in monitoring and assessing environmental changes, including forest fires, oil spills, and disaster-stricken regions, where they can gather crucial data from otherwise inaccessible areas, further fuelling their growth in surveillance and monitoring applications.
Full Report: https://www.kbvresearch.com/commercial-drones-market/
The North America region dominated the Global Commercial Drones Market by Region in 2023; thereby, achieving a market value of $26.28 billion by 2031. The Europe region is expected to witness a CAGR of 11.8% during (2024 - 2031). Additionally, The Asia Pacific region would register a CAGR of 12.9% during (2024 - 2031).
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