Global Drone Market Will Grow To $42 billion By 2025
- Global drone market to climb to almost $43 billion by 2025, according to a new report;
- Asia is leading the way, with large growth forecast;
- A rise in drone deliveries is expected, especially with the likes of Amazon aiming to maximise this opportunity;
- Commercial drone sales are predicted to more than double by 2025.
The global drone market will grow from $22.5 billion in 2020 to more than $42.8 billion by 2025, a new report suggests.
The findings, compiled by Drone Industry Insights (DII), show that this will be at a CAGR (Compound Annual Growth Rate) of 13.8%.
DII says the forecast was completed after the outbreak of COVID-19 and endeavoured to account for all the different market dynamic shifts that the global health crisis has triggered.
The survey highlights the continued growth of the commercial drone sector, as businesses and organisations turn to unmanned aircraft to drive outcomes and transform workflows.
Growth Predicted Across The World
The report shows that the current global drone market is worth more than $22 billion, and this will continue to increase in all regions of the world over the coming years.
According to the findings, the Asian market has now overtaken North America as the largest regional drone market in the world, standing at $8.62 billion, compared to $6.89 in North America.
It also predicts that the Asian market will be the fastest-growing over the next five years, climbing by $9.27 billion to $17.89 billion by 2025.
The report suggests that this is partly due to the sustained growth of the Japanese and Chinese drone markets – home to the world’s leading drone manufacturer, DJI – but also due to the significant growth of the Indian drone market.
In fact, having legalised drones in December 2018, India will be by far the fastest-growing commercial drone market in the world, according to the report, and will become the third-largest commercial drone market by 2025.
North America, meanwhile, is predicted to grow from $6.89 billion to $11.82 billion.
Europe is currently ranked as the third-highest regional drone market, worth $5.19 billion, and growth is predicted to climb to $9.86 billion by 2025.
Elsewhere, the market is predicted to climb from $0.59 billion to $1.11 billion in South America; $0.65 billion to $1.09 billion in Oceania; and $0.53 billion to $1.08 billion in the Middle East and Africa (MEA).
The Rise Of Commercial Drones
Over the last few years, drones have proved their worth in the world of work, helping businesses and organisations improve safety, increase efficiency, collect fast and accurate data, and maximise ROI. Drones have also helped to save hundreds of lives around the world.
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According to the Drone Market Report, this trend shows no sign of abating, estimating that commercial drone sales will more than double between 2020 and 2025.
The report shows that inspection continues to be the leading application method of drones, but the greatest growth is expected in drone deliveries.
Delivery by drone has become a hot topic in the industry, with the likes of Amazon aiming to conduct such missions; which can be carried out quicker and cheaper than traditional methods. Drone deliveries have also soared during the Coronavirus crisis, with unmanned aircraft being used to deliver urgently-needed medical supplies, such as coronavirus test kits.
Autonomous missions could also pave the way for the drone in a box solution, however, there could be a long way to go before these types of missions are commonplace in certain areas of the world.
Other key takeaways from the report include:
- Service is and will continue to be the largest segment of the drone industry, but software is the fastest growing;
- Energy is and will continue to be the largest industry on the drone market, but Transportation & Warehousing is growing the fastest and will be the second-largest market by 2025.
With warehousing in mind, Heliguy has unveiled a collision-proof cage for the DJI Mavic 2 Series; ideal for internal missions where space is tight and impacts with objects like shelves need to be avoided.
The Drone Market Report 2020-2025, compiled by Drone Industry Insights, makes for pleasing and encouraging reading.
Despite the impact of the Coronavirus around the world, the stats indicate huge growth across the global market place.
In fact, the C19 crisis demonstrated the potential of unmanned aircraft, with drones being used to spray disinfectant; use loudspeakers to disperse crowds and encourage people to wear masks; monitor people’s temperatures; and transport quarantine supplies and medical samples – all while reducing risk to workers and covering areas quickly.
Drones have become a key tool for enterprise and commercial applications, and this is set to rise, as more and more people begin to see the benefits of utilising unmanned aircraft.
Not only do the figures show the rise of drone use, but they also indicate growth in new areas, such as deliveries, which could pave the way for further innovation and new ways of thinking.