Drone Services Market worth .8 billion by 2028 – Exclusive Report by MarketsandMarkets™

Drone Services Market worth $57.8 billion by 2028 – Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 26, 2023 /PRNewswire/ — The overall Drone Services Market is projected to experience significant growth, transitioning from USD 17.0 billion in 2023 to USD 57.8 billion by 2028, reflecting a notable Compound Annual Growth Rate (CAGR) of 27.7% between 2023 and 2028 according to a new report by MarketsandMarkets™. Notably, North America is anticipated to hold the most substantial share of the drone services market in 2023.

 

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=80726041

Browse in-depth TOC on “Drone Services Market” 200 – Tables
100 – Figures
250 – Pages

Drone Services Market Report Scope:

Report Coverage

Details

Market Revenue in 2023

$ 17.0 billion

Estimated Value by 2028

$ 57.8 billion

Growth Rate

Poised to grow at a CAGR of 27.7%

Market Size Available for

2019–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Application, Industry, Solution and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

High investment costs to develop urban air mobility infrastructure network

Key Market Opportunities

Development of alternative modes of transport

Key Market Drivers

Growing use of drones for crop health assessment and soil monitoring

Drone services constitute a dynamic market that provides services through flying drones capable of remote control or autonomous flight, achieved by integrating software-controlled flight plans into their embedded systems. These commercial drone services offer support to various industries, including agriculture, insurance, construction, marine, aviation, oil & gas, mining, and infrastructure. They are involved in an array of tasks such as search and rescue, package delivery, industrial inspection, imagery capture, fertilizer application, healthcare supply distribution to remote areas, and broadcasting events.

Drones have demonstrated themselves as a compelling solution for delivering a range of services during the COVID-19 pandemic. They have been deployed for swift deliveries during peak demand periods, transporting essential medicines to remote locations, and conducting screenings in hard-to-reach areas, showcasing their exceptional efficiency and productivity. Despite relatively low adoption rates, many countries have missed the opportunities presented by drone technology. The global outbreak of the pandemic has triggered an upsurge in demand for drones, driven by the evident advantages they offer compared to their potential risks. Police departments and governments worldwide have harnessed drones to enforce remote policing and encourage social distancing. Although diminished tax revenues and budget reallocations have adversely impacted many law enforcement budgets, ongoing pilot programs are expanding drone usage as organizations turn to this technology to address operational inefficiencies.

By type, platform segment is expected to register the highest CAGR during the forecast period.

Based on type, the drone services market has been categorized into different types, including the platform, MRO (Maintenance, Repair, and Operations) and simulation and training segments. The platform category further breaks down into sub-segments, encompassing flight piloting and operation, data analysis, and data processing. Notably, the platform segment is projected to exhibit the most substantial Compound Annual Growth Rate (CAGR) during the forecast period. This is attributed to its enhanced efficacy in data acquisition, cost-effectiveness, and the widespread availability of drone services on a global scale.

By industry, healthcare & social assistance segment is projected to record the highest growth.

Based on industry, The drone services market’s industry-based segmentation encompasses several sectors, including construction and infrastructure, agriculture, utilities, oil and gas, mining, defense and law enforcement, media and entertainment, scientific research, insurance, aviation, marine, healthcare and social assistance, and transportation, logistics, and warehousing.

Notably, the healthcare and social assistance segment is anticipated to witness the most substantial growth. This growth is attributed to heightened investments made in response to the COVID-19 pandemic, particularly directed towards the transportation of test samples and vaccines within the healthcare and social assistance domain.

By solution, end-to-end solution segment would have the highest growth during the forecast period.

Based on solution, The Drone services market has been partitioned into two key segments: End-to-End solutions and Point solutions. Notably, the end-to-end solution segment is anticipated to experience the most significant growth during the forecast period. This growth is attributable to the increasing demand for comprehensive package solutions, encompassing a full spectrum of services from piloting and operational functions to data analysis and data processing.

By application, transport & delivery segment is expected to dominate the market with the highest CAGR during the forecast period.

Based on application, the drone services industry has been systematically categorized into distinct sectors, including inspection and monitoring, mapping and surveying, spraying and seeding, filming and photography, transport and delivery, as well as security, search, and rescue. Notably, the transport and delivery segment are anticipated to take the lead in market prominence during the forecast period, primarily due to the surging demand for expedited package delivery services in the healthcare sector. This heightened demand is a direct result of the impact of the pandemic outbreak.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=80726041

North America is expected to hold the highest market share in 2023.

Based in region, North America will hold the most significant market share in 2023. This growth in the regional market can be attributed to the upward trend in online shopping through e-commerce platforms and the favorable regulatory environment provided by the Federal Aviation Administration (FAA) in the United States. Moreover, the increase in investments from major industry players to support startups in the development of parcel service platforms is expected to further bolster the regional market’s expansion during the forecast period.

The leading entities in the drone services companies include Cyberhawk (UK), Sky-Futures Ltd. (UK), DroneDeploy Inc. (US), Terra Drone Corporation (Japan), PrecisionHawk (US), and Aerodyne Group (Malaysia). These prominent players offer a diverse range of drones suitable for various sectors and possess robust and well-established distribution networks spanning across North America, Europe, Asia Pacific, the Middle East, and the Rest of the World (ROW).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=80726041

Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting

Related Reports: 

Drone Inspection and Monitoring Market by Solution (Platform, Software, Infrastructure And Service), Type (Fixed Wing, Multirotor, Hybrid), Applications (Constructions & Infrastructure, Agriculture), Mode Of Operations & Region – Global Forecast to 2027

UAV Market by Point of Sale, Systems, Platform (Civil & Commercial, and Defense & Government), Function, End Use, Application, Type (Fixed Wing, Rotary Wing, Hybrid), Mode of Operation, Mtow, Range & Region – Global Forecast to 2027

Drone Package Delivery Market Size, Share & Industry Growth Analysis Report by Solution (Platform, Infrastructure, Software, Service), Type (Fixed-Wing, Multirotor, Hybrid), Range (Short <25 Km, Long>25 Km), Package Size, Duration, End Use, Operation Mode, Region (2022-2030)

Fixed-wing VTOL UAV Market by Application (Military, Government & Law Enforcement, Commercial), Propulsion (Electric, Hybrid, Gasoline), Mode of operation (VLOS, EVLOS, BVLOS), Endurance, Range, MTOW and Region – Global Forecast to 2030

Drone Simulator Market by Application (Commercial, Military), Component (Software, Hardware), Device Type (Augmented Reality, Virtual Reality), Drone Type (Fixed Wing, Rotary Wing), System Type and Region – Global Forecast to 2027  

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/drone-services-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/drone-services.asp

Logo – https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/drone-services-market-worth-57-8-billion-by-2028—exclusive-report-by-marketsandmarkets-301968554.html