Construction Drone Market to Reach $11.96 Bn, Globally, by 2027 at 15.4% CAGR: Allied Market Research

- Increase in urbanization, surge in construction activities, and rise in government spending on development of infrastructure fuel the growth of the global construction drone market.

News provided by

Allied Market Research

Nov 17, 2020, 08:10 ET

PORTLAND, Ore., Nov. 17, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Construction Drone Market by Type (Rotary Wing and Fixed Wing), Application (Surveying Land, Infrastructure Inspection, Security & Surveillance, and Others), and End User (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global construction drone industry garnered $4.80 billion in 2019, and is projected to reach $11.96 billion by 2027, manifesting a CAGR of 15.4% from 2020 to 2027.

Drivers, restraints, and opportunities

Increase in urbanization, surge in construction activities, and rise in government spending on development of infrastructure fuel the growth of the global construction drone market. However, limited workforce and huge initial costs restrain the market growth. On the other hand, advancements in technologies and supportive policies for drone usage create opportunities in the next few years.

Covid-19 Scenario

Owing to lockdown restrictions imposed by governments of many nations, manufacturers needed to halt manufacturing activities of drones and its accessories. In addition, the lockdown restricted the supply of raw materials.
The demand from the construction sectors has been declined considerably as the construction activities have been halted along with land surveying and mapping.
With lockdown restrictions lifted off, the construction and manufacturing activities have been resumed and the demand would gain gradually. Moreover, R&D activities would gain traction.

Download Report Sample (110 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/6612

The rotary-wing drone segment to continue its lead position by 2027

By type, the rotary-wing drones segment accounted for more than four-fifths of the total share of the global construction drone market in 2019, and is estimated to continue its lead position throughout the forecast period. Moreover, this segment is projected to witness the highest CAGR of 15.8% from 2020 to 2027. This is attributed to its features including compact design, high maneuverability, and ease of use along with innovations and advancements in drone technology. The report also offers a detailed analysis of the fixed-wing drones segment.

The land surveying segment to continue its dominance throughout the forecast period

Based on application, the land surveying segment held the highest market share, accounting for nearly half of the global construction drone market in 2019, and is estimated to continue its dominance throughout the forecast period. This is attributed to its features such as long range of flight and high stability along with need of aerial mapping of lands for record keeping, 3D modeling, and prevention of land disputes. However, the infrastructure inspection segment is expected to witness the highest CAGR of 17.1% from 2020 to 2027, owing to features of drones such as cost effectiveness, high range, accuracy, and excellent endurance.

Get detailed COVID-19 impact analysis on the Construction Drone Market: https://www.alliedmarketresearch.com/request-for-customization/6612?reqfor=covid

Asia-Pacific, followed by North America, to contribute highest revenue by 2027

Based on region, Asia-Pacific, followed by North America, accounted for the highest market share in 2019, contributing to more than two-fifths of the global construction drone market, and will maintain its highest contribution in terms of revenue throughout the forecast period. The same region is expected to witness at the largest CAGR of 17.8% during the forecast period. This is due to rise in urbanization and surge in construction activities in countries including China, India, and others. The report also explores regions such as Europe and LAMEA.

Leading market players

3D Robotics, Inc.
DJI
AeroVironment, Inc.
Insitu, Inc.
FLIR Systems, Inc.
Parrot Drones
Leptron Unmanned Aircraft Systems, Inc.
Trimble Inc.
PrecisionHawk
Yuneec International Co. Ltd.

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/construction-drone-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports We Have:

Concrete Pumps Market: Global concrete pumps market is projected to reach $4,853.2 million by 2027, registering a CAGR of 4.0% from 2020 to 2027.

Construction Equipment Market: Global construction equipment market size is expected to reach $261,047 million in 2027, growing at a CAGR of 4.3% from 2020 to 2027.

IoT in Construction Market: Global IoT in construction market size is expected to reach $19,039.8 million in 2027, growing at a CAGR of 14.0% from 2020 to 2027.

3D Concrete Printing Market: Global 3D concrete printing market size is expected to reach $40,652.4 million by 2027, registering a CAGR of 106.5% from 2020 to 2027.

Construction Lasers Market: Global construction lasers market is expected to reach $3,363.0 million by 2025, growing at a CAGR of 4.4% from 2018 to 2025.

Compact Construction Equipment Market: Global Compact Construction Equipment Market projected to reach $9,438 million in 2023, growing at a CAGR of 6.2% from 2017 to 2023.

Pre-Book Now with 12% Discount:

Concrete and Cement Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

Concrete Placing Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-528
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web : https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter