With 40.7% CAGR Drone Service Market Expected to Reach USD 128.18 Billion by 2030

global drone service market size is projected to reach $128,185.3 Million by 2030, registering a CAGR of 40.7%

PORTLAND, OREGON, UNITED STATES, November 2, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global drone service market size generated $4.21 billion in 2020, and is estimated to generate $128.18 billion by 2030, registering a CAGR of 40.7% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.

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Growth in demand for time efficient delivery service, surge in demand for industry specific solutions, and growth in implementation of autonomous security and surveillance systems drive the growth of the global drone service industry. However, cybersecurity issues related to drones and limitation with operational bandwidth of drones hamper the market growth. On the other hand, revamped government regulatory framework and technological advancement in drones are expected to create new opportunities in the coming years.

Drone services are being used on construction sites to inspect and monitor the progress of the work. By type, the drone service market is categorized into drone platform services, drone maintenance, repair, and overhaul (MRO) services, and drone training & education services. The drone platform services segment accounted for the highest revenue in 2020, owing to the drone technology advancements and increased development of advanced drones for agriculture, construction management, search & rescue, forestry, real estate, fire, and emergency services.

Increased demand in defence, energy & power, homeland security, and other industries for unmanned platforms that provide residential and commercial real-estate photography, construction site monitoring, drone inspection services, orthomosaic & aerial survey, data capture & analysis services, and drone 3D modelling foster the growth of the drone platform services segment.

Based on type, the drone platform services segment accounted for the highest market share, holding nearly three-fourths of the total share in 2020 and is expected to continue its leadership status during the forecast period. However, the drone maintenance repair and overhaul services segment is estimated to witness the highest CAGR of 43.6% from 2021 to 2030.

Based on duration of services, the short duration services segment contributed to the largest share in 2020, accounting for nearly three-fifths of the global drone service market, and is projected to continue its lead position during the forecast period. However, the long duration services segment is expected to grow at the highest CAGR of 42.4% from 2021 to 2030.

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Aerodyne Group
Edall Systems
Phoenix Drone Services LLC
Sharper Shape
Terra Drone Corporation
Unmanned Experts Inc.

Based on region, North America held the largest market share in 2020, contributing to more than one-third of the total share, and is expected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 42.9% during the forecast period.

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By type, the drone platform services segment dominated the global reverse logistics market in 2020, in terms of revenue, and is expected to lead the market throughout the forecast period. By duration of service, the long-duration services segment is anticipated to show a lucrative growth during the forecast period. By application, the aerial photography and remote sensing application segment is expected to grow at the highest CAGR during the forecast period.