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Construction Drone Market was Valued at $4,800.0 million in 2019 | Projected To Reach $11,968.6 Million by 2027 – CAGR of 15.4% from 2020 to 2027

Construction Drone Market was Valued at $4,800.0 million in 2019 | Projected To Reach $11,968.6 Million by 2027 - CAGR of 15.4% from 2020 to 2027

The global construction drone market was valued at $4,800.0 million in 2019, and is projected to reach $11,968.6 million by 2027, registering a CAGR of 15.4% from 2020 to 2027. Construction drone is a tool, which comes under the category of unmanned aerial vehicle (UAVs). Construction drones are increasingly being adopted in construction activities such as surveying, geographical mapping, and inspection of infrastructure, as they offer multiple benefits such as real-time data acquisition, accurate image capturing, and accessibility to hazardous areas. Moreover, they can be operated remotely or at the site of construction through remote and battery. Construction drones are used for security & surveillance of materials, people, and machinery at construction site to ensure workplace safety and security. Operation of construction drone can be done manually or by using automation.

Published Via “Big Market Research” An informative study on the Global Construction Drone Market Report from 2021-2027 has released recently from our database that helps by making business conclusions and shape the future of the organizations. The key attributes of interest of the Construction Drone Market report includes gross margin study, price, trends, production, revenue analysis, Top key Players, Type, Application, Marketing Channel, and Regions wise analysis. The opportunities, growth, and market risks are analyzed in-depth in Construction Drone Market report. It also tracks the latest market dynamics, such as driving factors, restraining factors, and industry news like mergers, acquisitions, and investments.

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Rise in residential and nonresidential construction activities around the globe due exponential population growth and rapid urbanization has resulted in rise in need for land survey and infrastructure inspection. This can be done economically and efficiently by construction drones. For instance, STRABAG, a construction company based in Austria, deployed DJI Phantom 4 RTK drone for survey of roads and pipelines. Thus, all these factors collectively are expected to drive the growth of global construction drone market during the forecast period.

In addition, real estate companies are using construction drones for filming and photography of construction sites, resorts, and vacant lands for the purpose of creating aerial maps & 3D models and marketing. For instance, in June 2017, RE/MAX LLC (U.S.-based real estate company) announced a strategic partnership with DroneBase (U.S.-based drone service provider) to provide construction drones to real estate professionals working for RE/MAX LLC for aerial imagery of project sites. This is expected to augment the growth of construction drone market during the forecast period.

Many countries have made rules and regulations with respect to operations of drones for ensuring safety and privacy of people. For instance, in July 2020, European Union Aviation Safety Agency (EASA) published the European regulations on drones to ensure their safe and secure operations in commercial and noncommercial applications. In addition, in September 2018, Directorate General of Civil Aviation (DGCA) provided the approval for usage of drones in inspection, photography, and delivery operations. Thus, all these factors are anticipated to encourage the use of construction drones, thereby accelerating the growth of global market during the forecast period.

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Design, development, and operation of construction drone require specialized skills; hence, lack of skilled manpower is expected to hider the growth of construction drone market during the forecast period. In addition, construction drone is a complicated assembly of camera, battery, remote control, propeller, and GPS antenna. These components are expensive, and the prices fluctuate frequently, thereby negatively impacting the profit margin of manufacturers. This is expected to hamper the growth of construction drone market during the forecast period.

Advanced technologies such as global navigation satellite systems (GNSS), global positioning system (GPS), geographical information system (GIS), Internet of Things (IoT), thermal imaging, and artificial intelligence (AI) are increasingly being integrated in drones. For instance, in October 2019, U.S. based Trimble Inc., a hardware, software, and services technology company, launched GNSS board—particularly designed for Trimble UAS1—which will enable satellite-based positioning. This is expected to boost the growth of the construction drone market during forecast period.

Key players in the construction drone market are continuously taking efforts to improve their product offerings to cater to dynamic requirements of the industry. For instance, in April 2020, DJI launched Mavic Air 2, which has 8 GB on-board memory storage and 3,500 mAh battery for aerial photography and video surveillance of residential construction sites.

The global construction drone market is segmented into type, application, and region. Depending on type, the market is fragmented into fixed wing drone and rotary wing drone. On the basis of application, it is differentiated into surveying lands, infrastructure inspection, security & surveillance, and others. By end user, it is further bifurcated as residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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COMPETITION ANALYSIS

The major market participants profiled in this report include 3D Robotics, Inc., AeroVironment, Inc., DJI, FLIR Systems, Inc., Insitu, Inc., Leptron Unmanned Aircraft Systems, Inc., Parrot Drones, PrecisionHawk, Trimble Inc., and Yuneec International Co. Ltd. Acquisition, partnership, and product launch are the key strategies being adopted by the major players to remain competitive in the market.

KEY BENEFITS FOR STAKEHOLDERS

The report provides an extensive analysis of the current and emerging construction drone market trends and dynamics.

In-depth construction drone market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2027.

Extensive analysis of the construction drone market is conducted by following key product positioning and monitoring of the top competitors within the market framework.

A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.

The global construction drone market forecast analysis from 2020 to 2027 is included in the report.

The key players within construction drone market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the construction drone industry.

GLOBAL CONSTRUCTION DRONE MARKET SEGMENTS

BY TYPE

  • Fixed Wing Drone
  • Rotary Wing Drone

BY APPLICATION

  • Surveying Land
  • Infrastructure Inspection
  • Security & Surveillance
  • Others

BY END USER

  • Residential
  • Commercial
  • Industrial

KEY PLAYERS

  • 3D Robotics, Inc.
  • AeroVironment, Inc.
  • DJI
  • FLIR Systems, Inc.
  • Insitu, Inc.
  • Leptron Unmanned Aircraft Systems, Inc.
  • Parrot Drones
  • PrecisionHawk
  • Trimble Inc.
  • Yuneec International Co. Ltd.

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