Commercial Drone Market Size, Share & Trends Analysis Report By Product (Fixed-wing, Rotary Blade, Hybrid), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030.
New York, March 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Commercial Drone Market Size, Share & Trends Analysis Report By Product, By Application, By End-use, By Region And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06068219/?utm_source=GNW
Commercial Drone Market Growth & Trends
The global commercial drone market is expected to reach USD 583.51 billion by 2030, and register a CAGR of 38.6% from 2023 to 2030. The growing application base across various end-use verticals, including agricultural, media and entertainment, and real estate, can be attributed to the rise in demand for commercial drones. Most end-use verticals that include a significant proportion of operational activities are likely to benefit significantly from drone utilization due to the automation of business operations.
The advent of the 5G delivery model and the integration of cloud computing technologies into the drone production process pose substantial growth opportunities for the market.The availability of high-speed internet in drones allows them to interact in challenging environments while performing tasks like command and control, media sharing, and autonomous flying.
The capability to utilize the 5G network effectively allows service providers to deliver seamless mobile broadband connectivity, ultra-low latency communications, and widespread Machine-to-Machine (M2M) type communications implementation. This simplifies the process for service providers to provide users with the drone-as-a-service (DaaS) model, enabling continuous business expansion and the development of new revenue streams.
Moreover, technological advancements in the commercial drone’s category have been redefining the market.The drones market started with generation 1 drones offering basic controls and remote-controlled aircraft to now introducing the latest generation 7 equipped with 3D robotics, AI, safety modes, Gimbals, high-quality video quality, carrying capacity, etc.
Smart drones with built-in protections and compliance technology, intelligent precision sensors, and self-monitoring are the subsequent significant changes in drone technology that could offer new opportunities in the transportation, military, transport, and commercial sectors.________________________________________
Commercial Drone Market Report Highlights
• North America accounted for the highest market share in 2022. The factors such as supportive legislation and the increasing adoption of commercial drones by government authorities are expected to drive the regional market over the forecast period.
• The fixed-wing commercial drone market is expected to witness significant growth over the forecast period due to the increasing demand for mapping and surveying applications.
• The precision agriculture segment is anticipated to witness substantial growth, as drones have become one of the most crucial facets of managing vital operations of farms. These devices assist farmers in various tasks, which include examination and preparation of crop plantation and field monitoring to regulate the growth and health of crops.
• The delivery and logistics segment is expected to witness the highest CAGR over the forecast period. The rising deployment of VTOL drones for passengers, cargo, medicines, and food delivery is anticipated to propel market growth.
Read the full report: https://www.reportlinker.com/p06068219/?utm_source=GNW
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