Civil Drone Market to 2027 - Global Analysis and Forecasts by Type (Fixed Wing Drone and Rotary Wing Drone); Platform (Hardware, Software, and Services); Application (Aerial Photography, Surveying & Mapping, Inspection, and Others); End-User (Agriculture, Real Estate/ Infrastructure, Energy and Power, Others)
The global civil drone market accounted for US$ 6.56 Bn in 2018 and is expected to grow at a CAGR of 14.3% over the forecast period 2019–2027, to account for US$ 21.62 Bn in 2027. The factors that are driving the growth of the civil drone market include the precision agriculture and mining industry that are to ensure civil drones formidable growth rate. Further, drone technology is creating new opportunities for power and utilities sector, thus, expected to drive the civil drone market. However, the operational safety and data security are some of the major concerns hampering the market growth, and also, legal regulations to be the prime restraining factor of civil drones market. In spite of these hindering factors, civil security services in smart cities to benefit from the usage of drone is anticipated to provide significant opportunity platform for the growth of global civil drone market. Some of the leading players in civil drone market are highly focusing on strategic market initiatives to enrich their product capabilities as well as to expand their geographical presence across the globe. This, in turn, is contributing to the growth of the civil drone market.
The global civil drone market is segmented on the basis of type, platform, application, end user and geography. The type segment in civil drone market comprises of fixed wing and rotary wing. The platform segment of civil drone market analyzes of hardware, software, and service. The application segment of civil drone market include aerial photography, surveying & mapping, inspection, and others. The end users of civil drone market covers agriculture, real estate/infrastructure, energy & power, and others. Geographically, the civil drone market is categorized as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The spending on the civil drone is quite high in both developed and developing regions such as North America, Europe, and the Asia Pacific. The demand for the civil drone is expected to grow further during the forecast period of 2019 to 2027. Rising digitization and positive economic outlook are some of the major macroeconomic factors driving the growth of the civil drone market. The civil drone is turning more into the global business, and various large players can offer civil drone globally. Presently on a global scale, industry verticals such as agriculture, real estate/infrastructure, and energy & power are the major contributors in civil drone spending. In 2018, North America held the leadership position in the civil drone market with a highest market share of the overall civil drone market. Asia Pacific and the Europe held the second and third position in terms of civil drone market share.
The overall civil drone market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the civil drone market. It also provides the overview and forecast for the global civil drone market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the civil drone market. Some of the players present in civil drone market are 3D Robotics, Inc., Aerovironment, Inc., Aeryon Labs, Inc., Drone Volt, ECA Group, Insitu, Inc., Intel Corporation, Parrot SA, Precisionhawk Inc., SZ DJI Technology Co., Ltd and Yuneec International among others.
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