Akihabara News (Tokyo) — The global commercial drone market will be worth about US$26.3 billion this year and Asia leads the way, according to a new report released by the Germany-based firm Drone Industry Insights.
The report further projects that the drone market will be worth over US$41 billion five years hence.
Drone services, such as mapping and inspections, currently represent more than three-quarters of global drone-related revenue and are the main driving force in the market.
Nevertheless, unit sales this year are estimated to reach about 828,000 drones.
Geographically, Asia and North America are currently the strongest markets, led by China and the United States respectively, though Japan comes in for a prominent mention as well. Going forward, Latin America and developing countries in Asia, especially India, are expected to close the gap in terms of their market growth rate.
Drone applications to the energy industry are in the lead, but other industries such as construction and agriculture are not far behind. The warehousing and insurance applications are anticipated to grow rapidly in the next few years.
The report excluded “passenger drones,” or eVTOL, from its study, as this is widely regarded as a separate sector.
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