Drone Services Market to Reach Value of US$ 97.65 Billion by 2031, States TMR Study

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Sep 13, 2022, 07:30 ET

The global drone services market is projected to expand at a CAGR of 32.5% during 2022 to 2031
Rise in the use of drone services in the global agricultural sector is propelling the market
Early adoption of next-gen technologies in North America makes it leading market region

WILMINGTON, Del., Sept. 13, 2022 /PRNewswire/ -- A report by Transparency Market Research (TMR) expects the global drone services market size to reach a value of US$ 97.65 Bn by the end of 2031. Furthermore, the study highlights that the market is projected to expand at a CAGR of 32.5% during the forecast period, 2022 to 2031.

The drone market report by TMR offers complete assessment of the growth opportunities, drivers, challenges, and restraints of the drone services market. Moreover, it also covers study of the recent developments, R&Ds, and ongoing trends in the market for drone services. Hence, readers gain the panoramic view of the market.

Major drone delivery companies are investing sizable amounts in R&Ds in order to develop next-gen services according to the current market needs. In addition to new product and service launches, players are using the strategies of mergers and acquisitions so as to stay ahead of the competition, note analysts of a TMR study on the global drone services market.

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Drone Services Market: Key Findings

Inspection & monitoring, aerial photography, spraying & seeding, transport & delivery, and mapping & surveying are some of the key services available in the global drone services market. The concept of drone photography is being increasingly adopted in the recent years as it offers superior quality photo and video from all angles. In addition, aerial photography can deliver an exclusive panoramic view of an object, subject, or area. Moreover, the popularity of the real estate drone photography is being rising as the image in such type of photography highlights the key focal point, including a house for sale or physical location of a business and the surrounding area.
In the agriculture industry, drones are being used owing to their different advantages in comparison to other forms of data collection, including satellites and other airborne instruments. Moreover, drones are gaining traction among farmers as these devices help in crop monitoring and spraying, field surveillance, and aerial photography. This aside, such services offer real-time images of crops, which are useful for different purposes including disease outbreak monitoring, water usage efficiency, and pest control. In addition, drone analytics is being applied in order to understand and interpret gathered information including temperature, soil moisture, precipitation, and wind speed. Hence, rising utilization of aerial services in the agricultural sector is fueling the business opportunities in the drone services market.

Drone Services Market: Growth Boosters

Rise in the commercial use of unmanned aerial vehicles globally is propelling the drone services market
Increase in the demand for drone services for aerial photography is fueling the sales growth in the market

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Drone Services Market: Regional Analysis

The market in North America is estimated to maintain its dominant position during the forecast period due to many factors including the existence of key service providers in the region and early adoption of next-gen technologies in drone services. Moreover, a surge in the use of aerial photography in the construction and real estate sectors is fueling the North America market.

The drone services market in Europe and Asia Pacific is projected to expand at notable pace in the near future due to a surge in the use of drone services in the construction and agriculture sectors of these regions

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Drone Services Market: Key Players

Some of the key players profiled in the report are:

Aerodyne Group
Aerial Drone Services Inc.
AUAV
Arch Aerial LLC
Drone Services Canada Inc.
CYBERHAWK
FLIGHTS Inc.
Dronegenuity
NADAR Drone Company
FlyGuys
TERRA DRONE CORPORATION
Phoenix Drone Services LLC
Wing Aviation LLC

Drone Services Market Segmentation

Services

Aerial Photography
Inspection & Monitoring
Mapping & Surveying
Spraying & Seeding
Transport & Delivery

End-use Industry

Building & Construction
Logistics
Oil & Gas
Energy & Utility
Agriculture
Mining
Tourism
Media & Entertainment
Aerospace & Defense
Others (Petrochemicals, Marine etc.)

Regions Covered

North America
South America
Europe
Asia Pacific
Middle East & Africa

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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