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Shibuya-ku, Tokyo, Japan, Japan, Apr 04, 2022, 00:36 /Comserve / -- The North America drones market is expected to exhibit a growth rate of more than 12% during the forecast period (2022-2031).
The North America drones market is expected to exhibit a growth rate of more than 12% during the forecast period (2022-2031).
- For several years, the drone market had been in the nascent phase, facing a lack of adoption in the commercial sector. Although they were initially viewed as military devices, drones have established a significant presence in the commercial sector over the past five years.
- Over the years, with several grants from the FAA, the demand for drones has emerged from various industries, like infrastructure, agriculture, transport, entertainment, security, and insurance. Hence, enterprise drones are expected to register higher growth during the forecast period, as compared to consumer drones.
- Advancements in drone technologies have allowed manufacturers to produce a wide range of models in different sizes, weights, and shapes, which can carry different sensor payloads, making them favourable across a broad application base.
- Factors such as security and safety concerns and scarcity of trained pilots are anticipated to hamper the growth of the drones market to a certain extent.
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Key Market Trends
The Increasing Use of Drones in Construction Sector
The use of drones in construction is increasing the operational efficiency and cost-effectiveness of land surveying methods by overcoming the disadvantages of traditional methods such as human error. Drones are being increasingly utilized to perform the visual inspection of the high-risk areas of a construction site. The efficiency of on-site communication and management is also bolstered by the ability to collect real-time data from drones. Drones also help engineers and surveyors carry out the inspection of high-rise structures and visualize the project progress through aerial shots. Additionally, they provide site managers with an overview of potential issues and facilitate key decision-making aspects to streamline the operations at a construction site. The use of aerial intelligence is anticipated to help in reduce 1/5th of total project cost and 1/10th of the earth moving cost. Such advantages of the use of drones in the construction sector are driving the growth of the segment in the coming future.
The United States Currently has the Highest Share in the Market
With the support of FAA, various government agencies, small enterprises and other several other start-ups in United States have been testing to integrate drones into various sectors like infrastructure, law enforcement, agriculture, last-mile delivery, medical transport and entertainment among others. have been testing the use of drones in the country. Corporate giants, like Amazon, Google, Walmart, and Uber, have been testing the use drones for deliveries in the coming years. For instance, UPS Flight Forward Inc., a subsidiary of United Parcel Service of America, Inc. received the first full Part 135 Standard certification from the FAA to operate a drone airline in September 2019. Initially, the service will be provided hospital campuses and expand it to transportation of a variety of items for customers in other industries. With the mandatory regulations for registration of drone operators, the number of non-model owner registrations increased to more than 175,000, with a monthly registration rate of about 15,000. This rate of 15,000 registration per month, which is approximately thrice more than the rate of registrations in 2017. The growth in drone operators in the country and support of government will accelerate demand for drones market in United States during the forecast period.
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Competitive Landscape
The Drone market in North America is fragmented and some of the prominent players in the market are BirdsEyeView Aerobotics, DJI, Intel, Drone Delivery Canada, etc. dominating the market. In United States alone, there are 685 companies working in drone sector. Additionally, the entry of companies, like Alphabet, and Intel, into the commercial sector of drones is expected to help the fragmentation of the market over the coming years. Also, drone manufacturers (software and hardware providers) are collaborating with service providers to develop advanced technology-integrated drone solutions to support the operation of drones in the commercial sector. Such collaborations in the future are anticipated to help the drone manufacturers capture market opportunities in various countries around the world.
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