The key factors expected to fuel the growth of the drone services market include increasing demand for drone services for monitoring and inspection across several industries.
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The drone services market is estimated to be USD 705.3million in 2016 and is projected to reach USD 18,022.7 million by 2022, at a CAGR of 71.62% during the forecast period.
However, factors such as lack of skilled and trained personnel to operate drones, and stringent regulatory policies regarding drone operations in civil aerospace may act as restraints for the growth of the drone services market.
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Based on industry, the infrastructure segment of the drone services market is projected to witness the highest growth, as drone services are getting affordable and are being used for various purposes such as monitor construction progress by taking topographic survey and construction progress photography to increase the productivity of construction process.
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Based on application, the aerial photography &remote sensing segment is estimated to lead the drone services market during the forecast period. The demand for aerial photography and remote sensing is increasing, owing to the capability of drones to collect high resolution aerial data in complex areas.
Based on duration of service, the short duration service segment is anticipated to lead the drone services market during the forecast period. Industries such as agriculture, logistics, media & environment, infrastructure, and oil & gas are opting for short duration drone services, as the use of drones has helped reduced labor cost and increased speed of business operations.
Break-up of profile of primary participants for this report:
- By Company Type: Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
- By Designation: C level – 35%, Director level – 25%, Others – 40%
- By Region: North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
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Key Points From Table Of Content:
13 Company Profiles
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*
13.2 Airware, Inc.
13.4 Cyberhawk Innovations Ltd.
13.5 Sky-Futures Ltd.
13.6 Sensefly Ltd.
13.7 Unmanned Experts Inc.
13.8 Sharper Shape Inc.
13.9 Dronedeploy Inc.
13.10 Prioria Robotics Holdings Inc.
13.11 Phoenix Drone Services LLC
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The study segments the drone services market on the basis of industry, application, type of drone, duration of service and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, the Middle East and RoW. On the basis of industry, the market has been segmented into infrastructure, agriculture, logistics, media and entertainment, oil and gas, utility and power, security, search & rescue, mining, scientific research, and insurance, among others.
On the basis of application, the drone services market has been segmented into aerial photography and remote sensing, data acquisition and analytics, mapping & surveying, 3D modeling, disaster risk management and mitigation, inspection & environmental monitoring, product delivery, among others. Based on type of drone, the market has been segmented into fixed-wing drone and multirotor drone.
The report provides in-depth market intelligence regarding market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the drone services market, along with analyzing micro markets with respect to individual growth trends, future prospects, and their contribution to the drone services market.
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