Drone Service Market is estimated to reach US$ 24,882.2 Mn by 2027 from US$ 435.2 Mn in 2017

Global Analysis and Forecast”, the drone service market is estimated to reach US$ 24,882.2 Mn by 2027 from US$ 435.2 Mn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

TThe drone service providers offer various types of drones to the end user industries for several purposes such as surveying, mapping, inspection, cinematography, and goods delivery among others. These third- party service providers offer their customers a variety of drones ranging from fixed- wing drones, rotary wing drones, and hybrid drones. The rotary wing drones are the most attractive unmanned aerial vehicles for commercial use, and the same is expected to dominate the market for drone service over the next decade. The primary advantage of rotary wing drones is that these vehicles have the ability to VTOL (vertical takeoff and landing), thereby requiring smaller takeoff and landing area. Another strength of rotary wing drones to hover around and to execute agile maneuvering, which helps the rotary wing drones to attract customers from several industries. The rotary wing drones are majorly deployed for applications such as precision inspection, as these drones have the ability to hover in a particular region and inspect a single target for a more extended period. These capabilities have impressed various end- user industries, which has improved its adoption rate in the drone service market.

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Moreover, the drone service providers opt for rotary wing drones attributing to the benefit that these drones are easier to transport from one place to another. The designs of these drones help the user or the operator to fold and pack into a smaller unit, which has attracted several drone service providers. The result of this is the increasing market size of drone service through rotary wing drones. Further, accounting to the compact size of the product as compared to fixed- wing drones, the rotary wing drones are less expensive. Coupling the lower price of the drones with a higher return on investment, the services providers tend to purchase these drones and offer their customers with rotary wings UAVs. These are the primary factor that has boosted the rotary wing drones in the drone service market in the past few years, and the same is expected to accentuate the demand in the coming years.

The global market for drone service is segmented on various parameters such as drone types, services, industries, and geography. Based on drone type, rotary wing drone segment dominates the market , and the same is expected to retain its dominance throughout the forecast period from 2019 – 2027. However, the hybrid drone segment is anticipated to escalate at a faster rate over the years. On the basis of service, the delivery segment is expected to witness significant growth rate in the coming years, owing to the gradual simplification of rules and regulation set by the governing authorities in different regions. Drone service market operates in an extremely fragmented industry with the massive number of smaller players capturing the market. Key players operating in the market are introducing attractive services and solution which is helping the companies to gain customer traction.

The major companies offering drone services to different industries include Terra Drone Corporation, CyberHawk Innovations Limited, Drone Volt, Zipline, Aerodyne Group, Airinov, Sky Future, SkySpecs, Measure and Flirtey among others. Several other companies are also offering these services to different industries which are facilitating the drone services market to propel over the years.

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  • Highlights key business priorities in order to assist companies to realign their business strategies.
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  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to segmentations like drone type, services and industries.
Posted by on Tuesday August 20 2019, 5:15 AM EST. All trademarks acknowledged. Filed under Aerospace, Aerospace & Defence, Defence, Featured Press Release, Semiconductors, Technology Hardware & Equipment, Telecommunication. Comments and Trackbacks closed. Follow responses: RSS 2.0

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