Drone Industry Insights (DRONEII) has published their annual flagship product, the Drone Market Report. This year, the forecast goes out 8 years to 2030 – and gives new insight about where drone industry growth will be fastest, by region and by application
According to DRONEII’s Drone Market Report, the global drone market is worth an estimated US$30.6 billion in 2022. It’s a stunning number – but one poised for steady growth. DRONEII forecasts that the commercial drone market will experience a CAGR (Compound Annual Growth Rate) of 8.3% until 2030. “Overall, our drone market analysis shows that the market as a whole (commercial + recreational) will be worth US$55.8 billion by the year 2030,” writes Alvarado.
Drone Industry Growth by Region
Where will drone industry growth be strongest? According to DRONEII’s research, Asia is the fastest growing market, with Europe and North America close behind. DRONEII points out that the expanded time frame – until 2030 – allows for new regulations like flight beyond visual line of sight (BVLOS) and remote ID to be enacted, and drone industry applications to scale accordingly.
This general growth picture, however, may not give the entire story. This year, DRONEII looked at even more countries – gathering specific data points about the market today in order to project accurately. The report points out, for example, that the fastest growth of commercial drone new unit sales is in the Middle East and Africa – and some market segments and applications are growing at a faster rate than others.
In terms of tracking a moving target, the drone market report paints a picture of the overall global market by focusing on each smaller component and threading them together into a broader view (our bottom-up approach). This broader view is the first thing presented in the report (i.e. total drone market), and each subsequent chapter digs deeper and deeper into various segments of the market. From hardware market size per region, to forecasting market size of drones used in construction per country, or analyzing unit sales of commercial units in China, our drone market analysis crafts a comprehensive view of the market in all its aspects for the next 8 years.
Read more from DRONEII:
DRONEII’s Drone Industry Barometer 2022 is Out: Why Most Companies Use Drones
DRONEII’s Kay Wackwitz: 3 Observations on the 2022 Drone Industry
How are Drones Used on Jobsites? From DRONEII : These are the Top Commercial Applications
Drone Regulation Progress: DRONEII’s EU and US Regulation Timeline, from 2016 to the Future
Top Drone Manufacturers: DRONEII Releases Report
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
TWITTER:@spaldingbarker
Subscribe to DroneLife here.