The global drone services market is estimated to expand at a rate of 32.5 per cent between now and 2027, according to a report from Transparency Market Research. The report found that Asia Pacific is anticipated to be a highly lucrative market for drones throughout the forecast period.
The commercial use of unmanned aerial vehicles was first recorded in Japan in the early 1980s, where they were used to spray pesticides on rice fields. Since then, drone technology has provided advanced and new applications to all major industries.
Drones are being considered the next key disruptor in the construction industry. With the adoption of UAVs, the construction industry directly benefits in terms of increased savings and safety, enhanced communication, and accurate measurements and insights. The benefits of using drones can be vouched by the 239% increase in the adoption of drones in the construction industry witnessed in 2017. (This is the highest usage of drones in any sector that uses commercial drones). Thus, the commercial drone industry and the construction sector stand to benefit from each other, with construction being the largest end-user industry of drones. This factor is expected to drive the global drone services market during the forecast period.
Global Drone Services Market: Prominent Regions
North America accounted for a key share of the global drone services market in 2018. The region is expected to dominate the global market between 2019 and 2027, owing to the increasing demand in the infrastructure, media & entertainment, and agriculture sectors in the region. Among countries/sub-regions, the U.S. constituted a significant share of the market in North America in 2018. The U.S. makes high investments in R&D activities aimed at innovating new technologies. Also, it is the most technologically-advanced country.
Europe is projected to be the second-largest market for drone services during the forecast period. The region is anticipated to hold a considerable share of the global drone services market during the forecast period. The rising use of drone delivery services in the healthcare and warehouse industries in the region is expected to augment the adoption of drone services in Europe in the next few years.
The market for unmanned aerial services in China is valued at CNY 30 Bn per year, with the government pushing to increase standardisation and automation in the agricultural sector in the country. Lucrativeness of the drone services market in Asia Pacific is anticipated to increase in the next few years, owing to extensive research and development activities taking place in the fields of aerial photography, videography, mapping, and data collection in the region.
Key players operating in the global drone services market are displaying synergies through close cooperation and collaborations in the areas of sales, marketing, and production. Manufacturers are also expanding through organic methods, such as increasing their production capacity, in order to meet the rising demand.