The newly-released Drone Market Report 2021-2026 by German company Drone Industry Insights forecasts a growth of 9.4% Compound Annual Growth Rate (CAGR) for a global drone market that it currently estimates to be worth USD26.3 billion in 2021. This means that drones are on their way to become a USD41.4 billion industry by 2026.
Currently, commercial drones are used in a vast majority of industries. According to the Drone Market Report, the drone applications in the energy industry are on path to earn just under USD5.9 billion throughout the globe. Other industries such as construction and agriculture are not far behind, and some industries related to warehousing and insurance will grow at a more rapid pace in the next 5 years.
Drone services, such as mapping and inspections among dozens of others, represent roughly 78% of global drone-related revenue and are the main driving force in the market. Some of these also experienced a positive impact from the pandemic by assisting with the remote delivery of coronavirus test kits and vaccines that allowed people to keep a safe distance and avoid infection. Moreover, drone hardware is forecasted to experience strong growth as well, despite the fact that this report excludes passenger drones that have made headlines throughout 2021 through companies like Joby, Archer and Lilium.
Regionally, Asia and North America are currently the strongest markets, led by China and the United States respectively. However, developing countries in South America and Asia will experience the fastest growth above 11% CAGR.
The report, based on proprietary data and market models supported by primary and secondary sources, is the latest edition of Droneii’s yearly study on the global drone market. It analyzes the drone industry by segment (hardware, software, services), by industry sector (energy, construction, agriculture, etc), by application method (e.g. mapping & surveying, inspection, and delivery among others) and provides a more in-depth look into all regional markets as well as a deeper analysis of the top 10 countries for drones. This year, the company also updated its market model to optimize it for drones, particularly in regard to industries such as cargo, courier services, intralogistics and warehousing, where larger companies such as UPS, Alphabet, and Amazon are seeking to implement drone technology.
Drone Industry Insights is also currently running a global survey for its yearly Drone Industry Barometer, designed to measure how drone companies have subjectively experienced the past year and how they feel about the direction of the drone market.
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