Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- The Commercial Drones Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global commercial drones market is expected to decline from $4.14 billion in 2019 to $3.64 billion in 2020 at a compound annual growth rate (CAGR) of -12.0%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $6.15 billion in 2023 at CAGR of 19.09%.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Commercial Drones Market: DJI; Parrot SA; Aerovironment; PrecisionHawk; Draganfly.
Industry News and Updates:
DJI Drives The Future Of Commercial Drones At AirWorks 2020
August 25, 2020 – DJI, the world's leader in civilian drones and aerial imaging technology, today revealed new sensor systems and data integrations for its professional drone platforms at the fifth annual AirWorks conference, as the global coronavirus pandemic spurs massive adoption of drone technology for tasks that must now be performed remotely.
In online AirWorks sessions, industry-leading DJI customers and partners including Shell, Southern Manatee Fire & Rescue and FLIR Systems illustrated how drone technology has enabled people and businesses to be more resilient during the COVID-19 era, helping them follow new requirements for social and physical distancing while addressing the growing need for critical services like contactless inspections that drones provide.
"COVID-19 has challenged drone innovators around the world to rapidly develop and scale new ways of working, and DJI is proud to showcase some of the best ideas demonstrating how the drone industry has responded to the pandemic and how we can chart a course to even more beneficial drone uses," said Christina Zhang, Senior Director of Corporate Strategy and Communication at DJI. "This year's virtual conference format for AirWorks allows more drone industry partners to attend sessions, exchange ideas, hear from experts and find new inspiration for how drone technology is changing everything about work."
Volatus Aerospace Teams with DJI for Commercial Drone Services in North America
MONTREAL, Oct. 14, 2020 -- Volatus Aerospace, is proud to announce its appointment as channel partner for DJI, the world-leading UAV manufacturer. In two agreements, Volatus becomes part of the DJI "Enterprise" distribution network and the first DJI-UTC authorized training centre in Canada.
The DJI Enterprise dealership is viewed as an important building block for the growth of Volatus. The overall market penetration and brand strength is certainly a benefit however, the real attraction was the DJI Enterprise focus on what commercial users are actually doing with a drone. DJI engineers focused on how drones were integrated as tools into projects, and committed to support them as they grow and scale. Tapping into the expertise of customers with specific applications, DJI develops and customizes solutions in a way that makes sense for enterprise users. Infrastructure inspections, gas leak detection, powerline inspections, first response, and precision agriculture applications are just a few of the limitless possibilities served by the DJI solutions.
Rob Walker, Vice President of Business Development for Volatus said, "The DJI Enterprise commitment is entirely syncronus with the Volatus Aerospace commitment to drive the full potential of unmanned technologies throughout industries in the Americas."
Key Market Trends
The commercial drones market consists of sales of commercial drones. These multi-functional flying devices are used by entities to collect and consolidate data, conduct safety and security checks and inspection. This market mainly comprises of fixed wing drones, rotary blade drones and hybrid wing drones supported by a variety of services and used for a variety of applications. Asia Pacific was the largest region in the commercial drones market in 2019, followed by North America. This region is expected to remain the largest during the next five years. The commercial drones market in Asia Pacific is forecasted to register the highest CAGR during 2019-2023.
Drone leasing is a better offer for most companies seeking to save on drone-related investments. Many entry-level companies that do not have sufficient financial backing can aid themselves with leasing drone-related solutions rather than purchasing them at full price. For example, Kespry and LiDARUSA are companies that focus on leasing commercial drones to other companies. The commercial drones market covered in this report is segmented by type into fixed wing drones, rotary blade drones, hybrid drones. It is also segmented by application into agriculture and environment, media and entertainment, energy, government, construction & archaeology, others and by technology into remotely operated, semi-autonomous, autonomous.
Increasing supply chain and manufacturing disruptions are limiting the sales of drones owing to the COVID19 outbreak. Drones manufacturers are struggling to meet production schedules across the world owing to the disruptions caused by coronavirus lockdowns in Chinese manufacturing systems. According to Drone Life's article posted in March 2020, Skydio, a USA-based company engaged in assembling drones, is suffering from supply chain disruptions caused by the slowdown in the manufacturing of the parts. Moreover, many companies are experiencing slowdowns of shutdowns in manufacturing activities due to COVID19 lockdowns, which is impacting the availability of subcomponents to the assembling companies in a snowball effect. Therefore, the disruptions in the supply chain and manufacturing disruption are expected to restrict the growth of the commercial drone's market during 2020.
In January 2019, FLIR systems, Inc., a US-based company which designs, manufactures, and markets thermal imaging and infrared camera systems, acquired Aeryon Labs for $200 million. With this acquisition, FLIR Systems will integrate their current offerings with drone technology to provide multiple solutions to many different issues. Aeryon Labs, a leading developer of high-performance unmanned aerial systems (UAS) for the global military, public safety and critical infrastructure markets.
Commercial drones are being considered by companies that have last-mile delivery as a main business process. The drones will help reduce cost per delivery and delivery time, thus increasing profits. Therefore, increasing the growth of the commercial drones market. According to a McKinsey report, if companies save 40% of their delivery costs using drones, then they will enjoy a 15-20% increase in their profit margin and a 15-20% decrease in their product or service prices. For example, in March 2019, Zomato, an Indian food delivery company, has conducted experiments to enable drone delivery in their value chain.
1) By Type: Fixed wing drones; Rotary blade drones; Hybrid drones
2) By Application: Agriculture and environment; Media and entertainment; Energy; Government; Construction & archaeology; Others
3) By Technology: Remotely Operated; Semi-Autonomous; Autonomous
Influence Of The Commercial Drones Market Report:
-Comprehensive assessment of all opportunities and risk in the Commercial Drones market.
- Commercial Drones market recent innovations and major events.
-Detailed study of business strategies for growth of the Commercial Drones market-leading players.
-Conclusive study about the growth plot of Commercial Drones market for forthcoming years.
-In-depth understanding of Commercial Drones market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Commercial Drones market.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Global Commercial Drones Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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