The global drone services market size is predicted to reach USD 67.43 billion by 2026. The rising necessity for monitoring system to maintain the food supply chain in agriculture will uplift the market share during the forecast period. Moreover, the increasing technological advancement in unmanned vehicle aircraft will subsequently create new business opportunities for this market in the forthcoming years, mentioned in a report, titled “Drone Services Market Size, Share and Industry Analysis, By Type (Fixed-wing and Rotary-wing), By Application (Aerial Photography, Delivery & Pick up, Surveillance & Inspection, Data acquisition & Analytics, and Remote Sensing & Environment Monitoring), By End-use Industry (Agriculture, Homeland Security, Oil & Gas, Logistics, Infrastructure, Media & Entertainment and Others), and Regional Forecast,2019- 2026” the market size stood at USD 4.23 billion in 2018 and is predicted to exhibit an excellent CAGR of 41.34% between 2019 to 2026.
An Overview of the Impact of COVID-19 on this Market:
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The Report Lists the Main Companies in the Drone service Market
- Aerodyne Group.
- Skylark Drones
- Terra Drone
- Verity Studios
Agreement between Terra Drone Japan and Plimsoll UAV to Propel Market
Terra Drone, a leading commercial drone services company with headquarters in Japan t and Plimsoll UAV together signed announced to sign an agreement for a joint venture called Terra Drone Brazil. The deal between the companies will enrich the updated technical know-how of 3D surveying and hard & soft technology to enhance the wide network in Brazil that has been established by Plimsoll UAV. Moreover, the partnership can be an essential factor in augmenting the drone services market growth during the forecast period owing to the trailblazing technology, which help offer benefits as per the needs, thus distributing world-class service to the customers in Brazil.
Additionally, the deal will also improve the technical solutions for O&G industries in Brazil, while also extending its exploration in utility networks, cell towers, and mining through the usage of geographic information system (GIS). In addition, the growing number of partnerships and colorations among eminent players will have a positive impact on the drone services market trends in the foreseeable future. For instance, in May, 2018, Sky-Futures Ltd. collaborated with the prominent companies such as NATS a UK based company to provide commercial drone private training. The Sky Futures Ltd also partnered with an inspection service provider Bureau Veritas to manage and operate in Europe.
Introduction of Drone Solutions by DroneDeploy to Foster Growth
DroneDeploy, a leader in cloud-based drone software services announced the launch of a single program for all drone operations. The company unveiled automated drone fleet management, enhanced workflow integrations, a low-altitude inspection mode, and advanced analytic capabilities in the launch. The initiation of innovative drone solutions by DroneDeploy will stimulate healthy growth of the market during the forecast period owing to the one stop solutions for all drone operations. Furthermore, DroneDeploy Chief Executive Officer and co-founder Mike Winn, said in a statement, “Today’s product launch is a reflection of the demand from our customers for a complete enterprise-grade drone operating system. We have customers with fleets of 100+ drones looking for a single enterprise platform for their entire drone program, and we believe this launch will reshape how they manage their drone operations and data.
Existing Drone Manufacturers to Augment Growth in North America
The market in North America generated a revenue of USD 1,464.9 million and is expected to grow rapidly during the forecast period. The growth in the region is attributed to the presence of prominent market players and OEMs. Moreover, the growing deployment of drones in military operations will encourage healthy growth of the market in North America. Asia Pacific is predicted to hold the largest share in the market owing to the demand for commercial drone services in India and China. The presence of Terra Drone, Skylark Drone and Australian UAV will further create opportunities for the market in Asia Pacific. The increasing investment in infrastructure, construction and logistics sector will spur opportunities for drone services market in the Middle East in the forthcoming years.
KEY INDUSTRY DEVELOPMENTS:
- Jul 2019 – DroneDeploy, headquartered in California, the U.S. announced launch of single enterprise solution platform for all drone operations. This will enhance work flow, integration of data analytics and inspection mode.
- February 2018 – PrecisionHawk, Inc., headquartered in Raleigh, North Carolina, U.S., announced the acquisition of Uplift Data Partner. The Uplift is specialized in inspection services to the construction and building information management (BIM) and real estate.
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