Drone Services Market Research Report - Forecast till 2028

Drone Services Market Research Report: Information by Solution (Enterprise and Point), Type (Drone Platform Services, Drone MRO Services and Drone Training & Education Services), Platform (Cloud-Based and Operator Software), Duration (Short Duration Services and Long Duration Services), Industry (Agriculture, Infrastructure, Logistics, Media & Entertainment, Oil & Gas, Security, Search & Rescue, Utility & Power, Mining, Insurance, Scientific Research and others), Application (Data Acquisition & Analytics, Mapping...

ID: MRFR/A&D/8044-HCR | February 2021 | Region: Global | 168 pages

Drone Services Market

The Drone Services Market is estimated to reach a CAGR of 34.6 %, with a value of USD 65.18 Billion during the forecast period.

Segmentation

By Solution Enterprise Point
By Type Drone Platform Services Drone MRO Services Drone Training & Education Services
By Platform Cloud-Based Operator Software
By Duration Short Duration Services Long Duration Services
By Industry Agriculture Infrastructure Logistics Media & Entertainment Oil & Gas Security Search & Rescue Utility & Power Mining Insurance Scientific Research Others

Key Players

  • Measure (US)
  • Precision Hawk (US)
  • Martek Aviation (UK)
  • Terra Drone Corporation (Japan)
  • senseFly (Switzerland)
  • Vermeer (US)
  • CYBERHAWK INNOVATIONS LIMITED (UK)
  • Sky Futures (UK)
  • DroneDeploy (US)
  • SHARPER SHAPE INC. (US)
  • DJI (China)

Drivers

  • Development of industry-specific solutions
  • Growing demand for high-quality data
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Drone Service Market Overview


Technological advancements have reached far behind and led to the development of different advanced technology. The Drone Services Market is one of the advanced featured markets. Drones are used for various commercial purposes throughout the world. Drone services are rapidly replacing the other applications services in the commercial sectors, such as aerial surveys, filmography, and search & rescue.


The Drone Services Market Share has shown sheer growth in these commercial applications. The use of drones in military sectors even plays an effective role. They are used in military operations for sting operations, search operations, and locating risk factors and threats. The usage of drones in the defence sector is highly driving the Market Growth.


The aerial survey includes different programs to survey wildlife, deforestation, pollution above the group. These crucial programs highly demand drone services. Drones can be operated for long periods and remotely by human operators or autonomously by onboard computers. Drone services have increased in various civil and commercial applications due to their high endurance and low operational costs. Incorporating new technologies, such as artificial intelligence, IoT, and cloud computing, in the Drone Services Market will fuel up their demand in various sectors. 


The key players are developing innovative features and techniques to innovate drone services. High competition among the market players has led to the development of UAVs to attract more consumers. These growth factors are driving the  Market Growth. Moreover, the increase in the adoption of drones for applications such as mapping & surveying, 3D modeling, and other activities is also driving the market. 


The rising opportunities of the Drone Services Market due to its wide applications in various sectors are highly increasing its demand. The players are targeting these opportunities to overcome other growth limiting factors. The Drone Services Markett is estimated to reach a CAGR of 34.6 %, with a value of USD 65.18 Billion during the forecast period.


COVID-19 Analysis


Drones have become ideal for offering various services during the COVID-19 pandemic. Therefore, the Drone Services Market Value noticed good growth during the pandemic period. Delivering essential products, medicines, and vaccines during the pandemic has become a concern and priority. Drones played a crucial role during this period, which propelled the Drone Services industry Trends. The market to further notice good growth rate due to its wide usage in commercial and industrial sectors.


Chief Factors Existing In The Market



  • Key Market Drivers


The market drivers drive the Drone Services Market at the global level. The development of industry-specific solutions is due to the presence of prominent players. The growing demand for drone usage in various commercial and military applications acting act as a driving factor. The growing demand for high-quality data services for advanced applications is a major driving factor. 



  • Market Challenges


The major challenging factor of the Drone Services Market is the lack of risk management framework and insurance cover for aerial delivery drones.



  • Market Opportunities


The Drone ServicesMarket is getting open opportunities due to its benefits and advantages. Further, the development of urban air mobility services is fueling up the market.



  • Market Restraints


Market is facing restraining factors that are hampering the growth value of the Drone Services Market Value. The safety-related issue is a major restraining factor, and the lack of trained professionals to operate UAVs is acting as a constraint for Industry.


Cumulative Evaluation Of The Market


The Drone Services Market Outlook evaluation report shows the market's growth across the globe in recent years. The chief existing variables, such as the key drivers and the opportunities, are driving the global market rapidly. The growth limiting factors of the Market, such as the challenges and restraining factors, are even noticed to hamper the growth speed, but the key players are focusing on it to overcome the issues. The COVID-19 pandemic has shown a bad impact on the market, but soon the market will recover the situation in the future years. The Drone Services Market will achieve its estimated CAGR value in the review period.



  • Market Segmentation


Market Size is segmented based on solution, type, platform, industry, and application.



  • By Solution


The Drone Services Market is segmented into enterprise and point-based solution segments. The enterprise segment is accounted to notice a higher CAGR during the forecast period due to its end-to-end solution, and it provides support to all industries. The point segment is the dominating one since the recent years dominated due to the growing demand for customized services in the industries.



  • By Type


The Drone Services Market type segment is divided into drone platform services, drone MRO services, and drone training and educational services. The Drone Platform Services dominate the market due to the growing demand and adoption of drone services in various sectors such as agriculture and construction. The Drone MRO Services is anticipated to register the highest CAGR value due to the rising accidents by new operators and lack of skilled professionals. The increase in the number of drones across the globe is setting huge opportunities for drone training and education service providers.



  • By Application


The Drone Services Market's application segment comprises Data Acquisition & Analytics, Mapping & Surveying, and 3D Modelling. The Data Acquisition & Analytics segment is expected to register good share value due to the growing demand for drone analytics in industrial and commercial sectors.


Mapping & Surveying is considered the dominating segment of the Drone Services Market due to its increased adoption of drone services for mapping and surveying applications in various countries. The 3D modeling segment is anticipated to register the highest CAGR due to its wide usage in mining, quarrying, and agriculture.



  • By Industry


The Drone Services Market Size is divided into agriculture, infrastructure, and media & entertainment. The agriculture segment is the leading segment due to the increased use of drones for agriculture purposes in countries like the US, India, and China. The infrastructure segment shows steady growth due to the utilization of drones in activities like monitoring, receiving insights, and inspection for building materials and layouts. The media and entertainment will even notice the highest CAGR value due to the frequent launch of products by the key players.



  • Regional Analysis


The geographical status of the Drone Services Market Outlook shows the major regions covered by the market, such as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these regions, the North American Region is noticed due to prominent players in this region.


The European market is projected to grow steadily due to the increased usage of drones in the infrastructure industry in a major country like the UK. The Asia Pacific is also expected to register the highest CAGR due to the increased rate of manufacturing of drones and the adoption of drone services in the agriculture sector.


The rise in adoption of drones for oil exploration by prominent oil and gas companies is driving the Drone Services Market in the Middle East & Africa. Increasing investment by key players in the Latin American region is expected to drive the regional market.


Competitive Intensity Within The Industry


The key players of the Drone Services Market Analysis are boosting market growth with their key strategies and planning. Here is the list of key players of the Market Trends.



  • Measure (US)

  • Precision Hawk (US)

  • Vermeer (US)

  • CYBERHAWK INNOVATIONS LIMITED (UK)

  • Sky-Futures (UK)

  • DroneDeploy (US)

  • SHARPER SHAPE INC. (US)

  • DJI (China)

  • Martek Aviation (UK)

  • Terra Drone Corporation (Japan)

  • senseFly (Switzerland)

  • The Sky Guys, Ltd. (Canada)

  • Deveron UAS (Canada)

  • MMC (China)

  • Mirs Innovate Private Limited (Singapore)

  • Sky Vision Aerial Photography Services (UAE)

  • FEDS (UAE)

  • Phoenix Drone Services (US)

  • Unmanned Experts Inc. (US)

  • Delair (France)

  • Prioria Robotics (US)


Recent Market Development



  • In June 2019, Terra Drone signed an agreement with Ordnance Survey, a national mapping agency of the UK, for providing drone services to the latter.

  • The ICMR has launched drone services for delivering the COVID-19 vaccine in Mokokchung District.


Report Overview


The overview of the Drone Services Market Forecast report shows the significant growth of the market in recent years, and it will further continue to grow with consistency level in the upcoming years. The strategies of the key players have helped the market overcome growth limiting factors and tough situations, such as the revenue loss during the COVID-19 pandemic. The segmentation report stated the growth of various segments. The regional report briefly explained the drivers are driving the regional market. The Market will attain sustainable growth in the further years. 


Key Industrial Segments


By Solution



  • Enterprise 

  • Point


By Type 



  • Drone Platform Services

  • Drone MRO Services 

  • Drone Training & Education Services


By Platform 



  • Cloud-Based 

  • Operator Software Duration (Short Duration Services and Long Duration Services)


By Industry 



  • Agriculture

  • Infrastructure

  • Logistics

  • Media & Entertainment

  • Oil & Gas, Security

  • Search & Rescue

  • Utility & Power

  • Mining, Insurance

  • Scientific Research and others


By Application 



  • Data Acquisition & Analytics

  • Mapping & Surveying

  • 3D Modeling

  • Aerial Photography & Remote Sensing

  • Disaster Risk Management & Mitigation

  • Inspection & Environmental Monitoring and others



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 65.18 Billion (2028)
  CAGR   34.6% (2020-2028)
  Base Year   2019
  Forecast Period   2028
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Solution, Type, Platform, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Measure (US), Precision Hawk (US), Martek Aviation (UK), Terra Drone Corporation (Japan), senseFly (Switzerland), Vermeer (US), CYBERHAWK INNOVATIONS LIMITED (UK), Sky Futures (UK), DroneDeploy (US), SHARPER SHAPE INC. (US), DJI (China)
  Key Market Opportunities   High-Quality Data and Technology Advancements
  Key Market Drivers

  • Development of industry-specific solutions.
  • Growing demand for high-quality data


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    Frequently Asked Questions (FAQ) :

    The growth period calculated for the market 2020 to 2028.

    The market will be generating revenue of USD 65.18 Billion by the year 2028.

    The market’s CAGR is calculated for 34.6%.

    The market USP is the rising demand for high-quality data and technology advancements in drones.

    Solution, Type, Application and Industry are the main segments of the market.