Commercial Drones Global Market Report 2023: Demand from Last-Mile Delivery Sector Bolsters Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Commercial Drones Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global commercial drones market will grow from $1.69 billion in 2022 to $1.8 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The commercial drones market is expected to grow to $2.23 billion in 2027 at a CAGR of 5.5%.

North America was the largest region in commercial drones market in 2022. North America is expected to be the fastest growing region in the forecast period. The regions covered in the commercial drones market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The main types of commercial drones are fixed-wing drones, rotary-blade drones, and hybrid drones. A fixed-wing drone is a plane that doesn't have a human pilot on board. Fixed-wing UAVs can be commanded remotely by a human or autonomously by onboard systems. The different technologies include remotely operated, semi-autonomous, autonomous, and are used in agriculture and the environment, media and entertainment, energy, government, construction, and archaeology, among others.

Commercial drones are being considered by companies that have last-mile delivery as their main business process. The drones will help reduce the cost per delivery and delivery time, thus increasing profits. increasing the growth of the commercial drone market.

According to a McKinsey report, if companies save 40% of their delivery costs using drones, then they will enjoy a 15%-20% increase in their profit margin and a 15-20% decrease in their product or service prices. For example, in June 2022, Amazon.com, Inc., a US-based web service provider and online retailer, started Prime Air Service in California, the USA. Using drones, Amazon's Prime Air service is expected to deliver packages weighing up to five pounds in less than an hour. Customers in Lockeford, California, and College Station, Texas, will be able to use the service.

Increasing supply chain and manufacturing disruptions are limiting the sales of drones owing to the COVID-19 outbreak. Drone manufacturers are struggling to meet production schedules across the world owing to the disruptions caused by coronavirus lockdowns in Chinese manufacturing systems. According to Drone Life's article posted in March 2020, Skydio, a US-based company engaged in assembling drones, is suffering from supply chain disruptions caused by the slowdown in the manufacturing of the parts.

Moreover, many companies are experiencing slowdowns or shutdowns in manufacturing activities due to COVID-19 lockdowns, which is impacting the availability of subcomponents to the assembling companies in a snowball effect. Therefore, the disruptions in the supply chain and manufacturing disruptions are expected to restrict the growth of the commercial drone market during 2020.

Drone leasing is a better offer for most companies seeking to save on drone-related investments. Many entry-level companies that do not have sufficient financial backing can aid themselves by leasing drone-related solutions rather than purchasing them at full price. For example, Kespry and LiDARUSA are companies that focus on leasing commercial drones to other companies.

In April 2020, Draganfly Inc., a Canada-based manufacturer of drone and UAV technologies, acquired Dronelogics Systems Inc for $1.74 million. With the acquisition, the two businesses are expected to diversify their drone manufacturing technology. The product offerings and engineering advancements of Draganfly are perfectly complemented by Dronelogics. Together, the businesses would strengthen their position as market leaders in the global UAV and UVS sectors while offering specialized services to their mutual clients and business associates. Dronelogics Systems Inc. is a Canada-based company that sells drones, creates specialized solutions, provides customer training and business consultation for SFOC and UAV use.

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Scope

Markets Covered:

1) By Type: Fixed wing drones; Rotary blade drones; Hybrid drones

2) By Application: Agriculture and environment; Media and entertainment; Energy; Government; Construction & archaeology; Others

3) By Technology: Remotely Operated; Semi-Autonomous; Autonomous

A selection of companies mentioned in this report includes

• DJI
• Parrot SA
• Aerovironment
• PrecisionHawk
• Draganfly
• 3D Robotics
• AsTec
• XAIRCRAFT
• ZeroTech
• ZeroTech
• Yamaha
• Lockheed Martin
• Yuneec
• DroneDeploy
• SenseFly
• Insitu
• Kespry
• LiDARUSA
• Ehang
• Delair
• Nutel
• CyPhy
• Aerialtronics
• GoPro
• FLIR
• Intel

For more information about this report visit https://www.researchandmarkets.com/r/ccskeh-drones?w=4

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