Connect with us

Technology

Commercial Drones Market expected to grow by USD 126.87 billion from 2024-2028, driven by rising applications, with AI-powered market insights – Technavio

Published

3 months ago

on

NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global commercial drones market size is estimated to grow by USD 126.87 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 57.74% during the forecast period. Rising applications of drones is driving market growth, with a trend towards new developments and launches of commercial drones. However, restrictive laws and regulations governing uav use poses a challenge. Key market players include Aeronavics, AeroTargets International LLC, AeroVironment Inc., Anadrone Systems Pvt. Ltd., Arc Sky LLC, Autel Robotics Co. Ltd., DELAIR SAS, Denel SOC Ltd., Draganfly Inc., Field Group AS, Geotech Environmental Equipment Inc., EHang Holdings Ltd., iFlight Innovation Technology Ltd., Intel Corp., Parrot Drones SAS, Red Cat Holdings, Skydio Inc., Teledyne Technologies Inc., The Boeing Co., and Yuneec International Co. Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Software and services and Hardware), End-user (Infrastructure, Media and entertainment, Public safety, Agriculture, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Aeronavics, AeroTargets International LLC, AeroVironment Inc., Anadrone Systems Pvt. Ltd., Arc Sky LLC, Autel Robotics Co. Ltd., DELAIR SAS, Denel SOC Ltd., Draganfly Inc., Field Group AS, Geotech Environmental Equipment Inc., EHang Holdings Ltd., iFlight Innovation Technology Ltd., Intel Corp., Parrot Drones SAS, Red Cat Holdings, Skydio Inc., Teledyne Technologies Inc., The Boeing Co., and Yuneec International Co. Ltd.

Key Market Trends Fueling Growth

The commercial drones market is experiencing significant growth due to the continuous introduction of new drones, components, and software solutions by vendors. Companies across various industries are integrating drones into their operations for managing assets, monitoring sites, inspecting facilities, and capturing real-time data. In January 2023, Autel Robotics launched the EVO Max 4T drone, featuring advanced autonomous flight technology and Artificial Intelligence, ensuring safe and stable flight in challenging environments. Such innovations increase the availability of advanced drone products and software solutions, fueling the adoption of commercial drones in the forecast period.

The Commercial Drone Market is experiencing significant growth, particularly in sectors like Defense and Agriculture. Drones equipped with high-quality Cameras are trending, with VAPOR Helicopter leading the way. Artificial Intelligence and Machine Learning are revolutionizing Decisionmaking in industries, from Inspection activities to Farm management. Hybrid drones, combining features of Quadcopters, Octocopters, and Hexacopters, are gaining popularity. In Agriculture, drones help reduce costs, increase Yield, and monitor crops using services like Raptor Maps. Filmmakers and Ecommerce sectors also benefit from aerial photography and warehouse management. However, legislations and Obstacles pose challenges. Autel Robotics offers advanced Flying platforms. Drones are being explored for Defense, Public Transportation, and even as Flying assistants. Future innovations include Hydrogenpowered and Selfcharging drones.

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The commercial drones market faces regulatory challenges that restrict the scope of drone operations and hinder their mass adoption. Governments and commercial bodies utilize drones, also known as Unmanned Aerial Systems (UAS) and Unmanned Aerial Vehicles (UAV), for various applications. However, the application scope is dependent on laws and regulations enacted by different governments worldwide. For instance, the Federal Aviation Administration (FAA) has imposed regulations that impact the global commercial drones market. In the EU, new standardized drone regulations were set for release in June 2020 but were postponed to the end of 2020. These regulations classify drones into three categories – open, specified, and certified – based on their technical qualities, and hold manufacturers responsible for ensuring drone compliance. However, regulatory differences between countries, such as insurance requirements and weight restrictions, create confusion and hinder drone deployment. These regulatory hurdles may prevent the mass adoption of UAVs and negatively impact the demand for commercial drones during the forecast period.The Commercial Drone Market is experiencing significant growth as Quadcopters, Octocopters, and Hexacopters find increasing applications in various sectors. Challenges in flight control, firmware, middleware, computer vision, and environmental awareness are being addressed through technological advances in electronics, computing, microcontrollers, and processors. Hydrogen-powered and self-charging drones are emerging trends, with potential applications in self-driving taxis, public transportation, and drone waitstaff. IIT Hyderabad and the Energy sector are exploring drones for 5G delivery, cloud computing, and pipeline inspection in the Oil and Gas industry. Drones are transforming industries like Construction, Property, and Photography with project alerts, safety, and monitoring solutions. However, ensuring safety and addressing accidents at construction sites and monitoring surveillance and security remain key challenges. Product demand is high for applications like 3D mapping, pipeline inspection, oil tank monitoring, and elevated infrastructure inspection, including electrical cables. The Commercial Drone Market is poised for growth, driven by technological advances and diverse applications.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This commercial drones market report extensively covers market segmentation by

Product1.1 Software and services1.2 HardwareEnd-user2.1 Infrastructure2.2 Media and entertainment2.3 Public safety2.4 Agriculture2.5 OthersGeography3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Software and services- The commercial drone market is experiencing significant growth due to increasing demand from various industries such as construction, agriculture, and media. Drones offer benefits like cost savings, improved efficiency, and enhanced safety for businesses. Key players in this market include DJI, Parrot, and 3DRobotics. Market size is projected to reach USD12.3 billion by 2025, driven by technological advancements and regulatory approvals.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

The commercial drone market is experiencing rapid growth, driven by the increasing use of Unmanned Aerial Vehicles (UAVs) for various commercial purposes. Quadcopters, Octocopters, and Hexacopters are popular choices for commercial applications due to their flight stability and maneuverability. Flight control, firmware, middleware, computer vision, and environmental awareness are essential components of commercial drone technology. Hydrogen-powered and self-charging drones are emerging trends, offering longer flight times and reduced environmental impact. The use of drones in self-driving taxis, public transportation, and as flying assistants is being explored for the future. IIT Hyderabad, among other institutions, is at the forefront of drone technology research, focusing on energy sector applications, 5G delivery, and computing. The market is also witnessing advancements in microcontrollers, processors, mobile hardware, cameras, and VAPOR Helicopter technology. The defense sector is another significant market for drones, with artificial intelligence and machine learning enabling decision-making capabilities. Drone technology is also being used in industries such as photography, pipeline inspection, oil tank monitoring, and 3D mapping. Cloud computing is an essential infrastructure for managing and analyzing drone data.

Market Research Overview

The commercial drone market is experiencing significant growth as Quadcopters, Octocopters, and Hexacopters find increasing applications in various industries for commercial purposes. Flight control, firmware, middleware, computer vision, and environmental awareness are key technologies driving this market. Technological advances in hydrogen-powered and self-charging drones are also gaining attention. Drones are being explored for innovative uses such as self-driving taxis in public transportation, drone waitstaff, and flying assistants. IIT Hyderabad and other research institutions are contributing to the energy sector with drone applications in 5G delivery and cloud computing. The construction sector benefits from drones for property monitoring, project alerts, safety, and accident prevention at unstable roofs, inaccessible positions, and elevated infrastructure. The oil and gas industry uses drones for pipeline inspection and oil tank monitoring, while 3D mapping and photography are popular in various sectors. The market demand is driven by the need for efficient inspections, reduced costs, and enhanced safety. However, legislations and obstacles in commercial spaces pose challenges. Companies in the hybrid segment offer solutions for farm management, agriculture costs, yield optimization, and inspection activities using drones. Filmmakers and the ecommerce sector leverage drones for aerial photography and warehouse management. The defense sector and artificial intelligence are also exploring decision-making capabilities in drone technology. Test samples, medical supplies, and hybrid drones are the future trends in this market. Companies like Autel Robotics offer advanced flying platforms.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSoftware And ServicesHardwareEnd-userInfrastructureMedia And EntertainmentPublic SafetyAgricultureOthersGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/commercial-drones-market-expected-to-grow-by-usd-126-87-billion-from-2024-2028–driven-by-rising-applications-with-ai-powered-market-insights—technavio-302259057.html

SOURCE Technavio

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Dr. Ashley Milhizer Sees 300% Growth in 2024 at Real Results Medical & Aesthetics

Published

4 hours ago

on

December 21, 2024

By

After nearly two years in business, Dr. Ashley Milhizer’s Tempe-based center for naturopathic medicine and aesthetics has experienced the type of growth that rival industry titans. Real Results Medical & Aesthetics – soon to be opening a second location in Scottsdale in early 2025 – has seen an impressive 300% growth since opening their doors in March 2023.

TEMPE, Ariz., Dec. 21, 2024 /PRNewswire-PRWeb/ — After nearly two years in business, Dr. Ashley Milhizer’s Tempe-based center for naturopathic medicine and aesthetics has experienced the type of growth that rival industry titans. Real Results Medical & Aesthetics – soon to be opening a second location in Scottsdale in early 2025 – has seen an impressive 300% growth since opening their doors in March 2023.

Aside from patient referrals and cutting-edge technology, Milhizer credits social media as one of the biggest avenues for growth. “Between TikTok and Instagram we’ve amassed over 25,000 followers and that accounts for about 70% of our new business.”

Aside from patient referrals and cutting-edge technology, Milhizer credits social media as one of the biggest avenues for growth. “Between TikTok and Instagram we’ve amassed over 25,000 followers and that accounts for about 70% of our new business,” said Dr. Ashley Milhizer, Founder of Real Results Medical & Aesthetics.

On both platforms, Dr. Milhizer shares educational videos and insights into various medical & aesthetic procedures. Her engaging content not only highlights the quality of care she provides but also educates her audience on the latest trends and treatments in the field.

Originally from Michigan, and a graduate of UC Davis and the Southwest College of Naturopathic Medicine & Health Sciences, it was Dr. Milhizer’s personal experience in seeing how natural remedies can significantly impact the body that inspired her to get into the field.

“While I was in school, a friend of mine was diagnosed with stage 3 cancer and was given up to 18 months to live and I became determined to research every kind of remedy that could potentially help,” said Dr. Milhizer. “From a healthy diet, supplements and a host of other naturopathic strategies, we tried everything we could find and two months later he was in remission, and he’s still alive today.”

The power of naturopathic remedies, following an early career path in sports medicine – which enabled her to work with some of the state’s top professional athletes – is what led her to forming Real Results Medical & Aesthetics. The company’s broad depth of services is also what allowed her to expand her reach of clientele beyond athletes to everyone from the Valley’s elite CEOs and stay at home Moms to patients ranging from their early 20s to upper 80s.

The naturopathic services offered at Real Results Medical & Aesthetics include hormone optimization, peptide therapy, IV therapy, natural pain relief, weight loss, food allergy testing and overall diagnostic testing. While the aesthetics side of the business offers services such as hair restoration, skin resurfacing, botox, fillers, microneedling, RF Plasma skin resurfacing, laser treatments, vein removal and body contouring.

For more information on Real Results Medical & Aesthetics, visit www.realresultsmedical.com or call/text 480.245.5636. For ongoing news, updates and service offerings, follow Dr. Milhizer on Facebook, Instagram and LinkedIn.

Media Contact

Kendra Riley, Real Results Medical & Aesthetics, 1 4802206051, kendra@dawningpr.com 

View original content to download multimedia:https://www.prweb.com/releases/dr-ashley-milhizer-sees-300-growth-in-2024-at-real-results-medical–aesthetics-302337009.html

SOURCE Real Results Medical & Aesthetics

Continue Reading

Technology

ICEYE expands its Earth Observation capabilities with launch of two SAR satellites for mid-inclination orbit on the Bandwagon-2 mission with SpaceX

Published

9 hours ago

on

December 21, 2024

By

Mid-inclination orbit provides more SAR-imaging opportunities at middle latitudes of the globe for ICEYE customers.

HELSINKI, Finland, Dec. 21, 2024 /PRNewswire/ — ICEYE, the global leader in SAR satellite operations for Earth Observation and persistent monitoring, announced today that it has launched two new satellites to its constellation of SAR satellites. Both satellites expand the availability of ICEYE’s latest imaging technology to deliver additional 25 cm imaging capacity. The satellites were integrated via Exolaunch and launched as part of the Bandwagon-2 rideshare mission with SpaceX from Vandenberg Space Force Base in California, USA. Both satellites have established communication, and early routine operations are underway. With today’s launch, ICEYE has successfully launched 40 satellites into orbit since 2018, with nine satellites launched in 2024 alone.

The new SAR satellites were launched into mid-inclination orbits; compared to a polar orbit, these mid-inclination orbits provide more than twice the collection opportunities at middle latitudes of the globe. ICEYE customers have many areas of interest in these middle latitudes (+/- 45 degrees), and these customers will benefit from increased persistence over these regions. Customers with imaging interests outside these middle latitudes will continue to benefit from the frequent revisit enabled by ICEYE’s dozens of satellites in polar orbits. ICEYE’s unique mix of mid-inclination and polar orbits provides its customers with deep revisit capabilities for targets all around the globe. The new satellites will serve ICEYE’s commercial missions as part of the world’s largest SAR satellite constellation owned and operated by ICEYE.

Rafal Modrzewski, CEO and Co-founder of ICEYE said: “This launch marks another significant milestone in ICEYE’s ability to provide our customers with a rich diversity of collection opportunities. We bolster our industry-leading SAR constellation and expand our customers’ collection opportunities in the areas most important to them.”

Today’s launch is another step forward in ICEYE’s steady drumbeat of innovative breakthroughs in Earth Observation. This year alone, ICEYE has, for example, introduced Dwell Precise, a new 25 cm imaging mode that offers its customers the highest-fidelity 25cm imaging capability, and adds advanced capability to ICEYE’s line of Dwell products; launched an API that allows customers to directly task its SAR satellite constellation; and launched ICEYE Ocean Vision to provide actionable intelligence for maritime domain awareness.

About ICEYE

ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

Owning the world’s largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable high-quality data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development.

ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US.  We have more than 700 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation.

Media contact: press@iceye.com

Visit www.iceye.com and follow ICEYE on LinkedIn and X for the latest updates and insights.

View original content to download multimedia:https://www.prnewswire.com/news-releases/iceye-expands-its-earth-observation-capabilities-with-launch-of-two-sar-satellites-for-mid-inclination-orbit-on-the-bandwagon-2-mission-with-spacex-302337876.html

SOURCE ICEYE

Continue Reading

Technology

Wrap Up the Holidays with Bedsure Exceptional Discounts

Published

10 hours ago

on

December 21, 2024

By

NEW YORK, Dec. 21, 2024 /PRNewswire/ — The holiday season has arrived, and Bedsure is bringing warmth and coziness to gift-giving with exceptional discounts on a selection of premium products. From luxurious throw blankets to versatile wearable blankets and complete bed-in-a-bag sets, Bedsure offers ideal holiday gifts for everyone. With special discounts, this is the perfect opportunity to bring comfort and joy to loved ones.

Top Picks for This Holiday Season

1. Arch Shaggy Sherpa Fleece Blanket – 28% Off
This ultra-soft throw, now just $12.99 (original price $17.99), combines warmth with elegance. Featuring a stylish jacquard pattern, it adds charm to any space and serves as a versatile gift or companion for chilly evenings. Lightweight yet cozy, this blanket is designed to provide comfort and durability.

2. Sherpa Fleece Wearable Blanket – 20% Off
The ultimate gift of comfort, this wearable blanket features a plush flannel exterior and Sherpa lining for luxurious warmth. Thoughtful details such as ribbed cuffs and spacious pockets make it a practical choice for lounging or staying cozy during the holidays. Now available for $23.99 (original price $29.99), this winter essential offers unmatched value.

3. Vegan Fur Blanket – 43% Off
A touch of luxury is easy to achieve with the Bedsure Vegan Fur Blanket, priced at $33.99 (original price $59.99). This ultra-fine faux fur throw provides elegance and comfort, mimicking the softness and texture of real fur in a cruelty-free design. It’s perfect for cozying up or making a stylish statement.

4. Marilyn Monroe™ Sherpa Blanket – 67% Off
Hollywood glamour meets comfort with the Marilyn Monroe™ Sherpa Blanket. Inspired by pop art, this lightweight and cozy throw features a vibrant design that pays tribute to an icon. At just $9.99 (original price $29.99), it’s a stylish yet affordable holiday gift.

5. Pintuck Bed-in-a-Bag – 7-Piece – 64% Off
The all-in-one 7-piece bedding set, available for $26.79 (original price $74.99), transforms any bedroom with its elegant pinch pleat design and cloud-like microfiber comforter. Combining sophistication with practicality, it’s a thoughtful gift or the perfect holiday home upgrade.

Why Choose Bedsure This Holiday Season?

Unbeatable Discounts: Save up to 67% on top products that blend comfort and style.Perfect for Every Occasion: Whether it’s a Christmas gift, a New Year surprise, or an upgrade for the home, Bedsure’s collection offers a variety of options.High-Quality Comfort: Each product is crafted with premium materials to ensure warmth, softness, and long-lasting durability.

This holiday season, Bedsure provides the perfect opportunity to share comfort and joy. Exclusive deals are available for a limited time, making it the ideal moment to explore the collection and make the season unforgettable.

About Bedsure:

Founded in 2016, Bedsure is a leading home textile brand with products sold to over 15 million customers worldwide. Currently, Bedsure has over 50 bestselling home products in 8 countries and has maintained a compound growth rate of 100% for five consecutive years. While Bedsure has grown into a global company with diverse products to meet different customer needs, its focus on comfortable home products and everyday value stays the same. For more information, visit Bedsure’s official website https://bedsurehome.com/, or Amazon shop https://www.amazon.com/bedsure. Stay in touch with Bedsure on social media @bedsurehome.

View original content:https://www.prnewswire.com/news-releases/wrap-up-the-holidays-with-bedsure-exceptional-discounts-302337822.html

SOURCE Bedsure

Continue Reading

Trending