Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Commercial Drones Market size is expected to reach $167 billion by 2028, rising at a market growth of 34.5% CAGR during the forecast period.
The Hybrid segment is showcasing a CAGR of 36.4% during (2022 - 2028). This is owing to the fact that by combining the characteristics of batteries and fuel, hybrid commercial drones increase their effectiveness and power. Also, even in bad weather, these drones can fly for extended periods of time with bigger payloads. Tech giants like Facebook and Amazon use hybrid drones to deliver items quickly and effectively while offering internet connection in off-the-grid regions. These factors are propelling the segment's expansion.
The Media & Entertainment segment acquired maximum revenue share in the Global Commercial Drone Market by End-use in 2021 thereby, achieving a market value of $42.2 billion by 2028. This is because drones may be used in various media and entertainment projects. Filmmakers increasingly use professional drones to record frames in the most efficient and accurate ways imaginable. The category is anticipated to grow due to the rising demand from customers and owners for aerial photography to promote theme parks, public places, tourist attractions, hotels, and resorts. Thereby surging the segment's expansion.
The Surveillance & Monitoring segment has shown the growth rate of 33.4% during (2022 - 2028). This is because a surveillance drone can conduct perimeter patrols 30 times quicker than a person patrol, providing feedback quickly. By deploying remotely operated drones, authorities can lessen the danger to security personnel since the pilots will be positioned at a safe distance. It is also recommended to deploy a drone to assess the scene and look into any threats before sending people inside in the case of a suspect capture or catastrophe breakout.
The North America market dominated the Global Commercial Drone Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $60,565.4 Million by 2028. The Europe market is exhibiting a CAGR of 34% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 35.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/commercial-drones-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of AeroVironment, Inc., SZ DJI Technology Co., Ltd., PrecisionHawk, Inc., Autel Robotics Co., Ltd., Draganfly Inc., Intel Corporation, Teledyne FLIR LLC (Teledyne Technologies Incorporated), Aeronavics Ltd., Parrot Drones SAS, and EHang Holdings Limited.
Unique Offerings from KBV Research
North America Commercial Drones Market size & Opportunities 2022-2028
Europe Commercial Drones Market & Growth Forecast 2022-2028
Asia Pacific Commercial Drones Market Share & Industry Outlook to 2028
LAMEA Commercial Drones Market Growth, Trends & Forecasts 2022-2028