Commercial Drone Market Worth $501.4 Billion By 2028 | CAGR: 57.5% | Global and Regional Forecast | Grand View Research, Inc.


 

The global commercial drone market size is anticipated to reach USD 501.4 billion by 2028, registering a CAGR of 57.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The rising demand for commercial drones can be attributed to the growing application base across a wide range of end-use verticals, including real estate and construction, media and entertainment, and agriculture. Majority of the end-use verticals that involve a high proportion of operational processes are expected to experience substantial productivity gains from drone usage owing to the automation of business operations.

UAVs or drones are reinventing old businesses and even creating new prospects. In 2016, the Federal Aviation Administration (FAA) released regulations related to the usage of commercial drones that clarified the legal landscape for businesses and workers. Since then, the industrial applications of commercial drones have significantly increased. Drones are expected to emerge as versatile tools, which can transform the existing business operations and help to establish new startups.

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The prominent industry players are involved in the manufacturing as well as supply of accessories required for drone operation. Additionally, they provide applications for Android/iOS-based smartphones and tablets to efficiently operate and maneuver the drones during flight. These manufacturers offer drones for various verticals, such as security & law enforcement, energy, agricultural, retail, media, and entertainment.

In the wake of the COVID-19 outbreak across the globe, there has been a considerable increase in the utilization of drone technology across various scenarios, with drones proving to be of immense assistance in such situations. Drones are being widely adopted in the healthcare sector for lab sample pickup and delivery as well as transportation of medical supplies for reducing transportation turnaround time and curtailing the exposure to infection. As per the UNICEF, so far, more than eighteen countries have deployed drones for delivery and transportation purposes during the pandemic.

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