DUBLIN–(BUSINESS WIRE)–May 20, 2020–
The “Commercial Drones Global Market Report 2020-30: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com‘s offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global commercial drones market.
The global commercial drones market is expected to decline from $4.14 billion in 2019 to $3.64 billion in 2020 at a compound annual growth rate (CAGR) of -12.0%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $6.15 billion in 2023 at CAGR of 19.09%.
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Asia Pacific was the largest region in the commercial drones market in 2019, followed by North America. This region is expected to remain the largest during the next five years. The commercial drones market in Asia Pacific is forecasted to register the highest CAGR during 2019-2023.
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 with 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.
The commercial drones market covered in this report is segmented by type into fixed wing drones, rotary blade drones, hybrid drones. It is also segmented by application into agriculture and environment, media and entertainment, energy, government, construction & archaeology, others and by technology into remotely operated, semi-autonomous, autonomous.
Increasing supply chain and manufacturing disruptions are limiting the sales of drones owing to the COVID19 outbreak. Drones 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 USA-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 of shutdowns in manufacturing activities due to COVID19 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 disruption are expected to restrict the growth of the commercial drone’s market during 2020.
In January 2019, FLIR systems, Inc., a US-based company which designs, manufactures, and markets thermal imaging and infrared camera systems, acquired Aeryon Labs for $200 million. With this acquisition, FLIR Systems will integrate their current offerings with drone technology to provide multiple solutions to many different issues. Aeryon Labs, a leading developer of high-performance unmanned aerial systems (UAS) for the global military, public safety and critical infrastructure markets.
Commercial drones are being considered by companies that have last-mile delivery as a main business process. The drones will help reduce cost per delivery and delivery time, thus increasing profits. Therefore, increasing the growth of the commercial drones 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 March 2019, Zomato, an Indian food delivery company, has conducted experiments to enable drone delivery in their value chain.
Key Topics Covered:
1. Executive Summary
2. Commercial Drones Market Characteristics
3. Commercial Drones Market Size And Growth
3.1. Global Commercial Drones Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Commercial Drones Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Commercial Drones Market Segmentation
4.1. Global Commercial Drones Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Commercial Drones Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Commercial Drones Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Commercial Drones Market Regional And Country Analysis
5.1. Global Commercial Drones Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Commercial Drones Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Parrot SA
- 3D Robotics
- Lockheed Martin
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SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 05/20/2020 05:46 AM/DISC: 05/20/2020 05:46 AM
Copyright Business Wire 2020.