Drone Services Market Size & Growth | Research Report 2029

 Drone Service Market

Drone Service Market was valued at USD 12.1 billion in 2021, and forecast to reach USD 56.0 billion in 2029, growing at a significant CAGR of 21.1% from 2022-2029.

The factors driving the growth of Drone Service Market includes increasing application of drones in the military and commercial sector, growing popularity of unmanned ariel vehicles, rise in the number of urban mobility projects around the world and trending concept of air taxis. According to the report published by Bloomberg, the Global UAV Drones Market is expected to reach USD 102,466.7 million by the end of 2030, expanding at a CAGR of 19.6% over the forecast period (2022-2030), which will accelerate the Drone Service Market size in the approaching years. Moreover, technological advancements in drones, expansion of e-commerce industry, Government policies boosting drone manufacturing and increasing investments by leading players on research and development, are some of the additional factors supplementing the market growth. As per the Business Standard, the Government of India announced Production Linked Incentive (PLI) scheme worth INR 120 crore for drone manufacturing in India, which will generate INR 5,000 crore worth of investments and create 10,000 new jobs in the Indian economy.

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However, the growth of Drone Service Market is hindered attributed to growing concerns related to safety.

The leading players operating in the Drone Service Market are Aerodyne Group, CYBERHAWK, Flirtey, Skylark Drones, Terra Drone Corp., Verity, Hemav Technology S.L, Matternet, Zipline and MEASURE, among others. 

Based on Type, the Rotary Wing segment is predicted to expand at a significant CAGR during the forecast period

Increasing application of commercial drones for remote sensing and environment monitoring, are some of the factors pushing the segment’s growth.

Based on End-Use Industry, the Agriculture segment is projected to grow at a remarkable CAGR over the forecast period

Increasing use of commercial UAV drones in agriculture sector for spraying and monitoring growth of the crop, are propelling the growth of the segment. 

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Rapid growth in the ecommerce industry, presence of the leading players such as Zipline and Flirtey, rise in the sales of unmanned ariel vehicles, growing emphasis on developing air taxis, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.

Key Development

  • In 2019, CYBERHAWK completed the acquisition of Florida Pest Control, a pest management business. Through this acquisition, the CYBERHAWK plans to strengthen its position in the North American Market.

Market Segmentation

Segmentation by Type

  • Fixed-Wing
  • Rotary Wing

Segmentation by Application

  • Aerial Photography
  • Delivery & Pick-Up
  • Surveillance and Inspection
  • Data Acquisition and Analytics
  • Remote Sensing and Environment Monitoring
  • Others

Segmentation by End-Use Industry

  • Agriculture
  • Homeland Security
  • Oil & Gas
  • Logistics Infrastructure
  • Media and Entertainment
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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