Commercial drone sales seen scaling new highs, study sees near $90 billion revenue in 2030

The global market for unmanned aerial vehicles (UAVs) or drones would expand dramatically over the following ten years, with revenues reaching $90 billion in 2030, according to a study.

This study indicates that commercial drone sales will have the fastest rate of growth, increasing at a CAGR of 33 percent to $57 billion in 2030 from $3.4 billion in 2020.

According to GlobalData’s study, ‘Drones (2022) – Thematic Intelligence’, the drone market will develop at a CAGR of 19 percent between 2020 and 2030. 

Pinky Hiranandani, Principal Analyst, Thematic Intelligence team, GlobalData’s said “Commercial drones will be the largest revenue contributor to the overall drones’ market from 2025, surpassing military drones. The commercial use of drones will increase significantly over the next 10 years, as BVLOS operations become common. The agriculture and construction sectors will lead the commercial market, as drones help to improve efficiency and reduce costs in these sectors.”

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Due to increased commercial demand, many countries are now reviewing their drone laws. But given the risks involved, the regulatory procedure is probably going to move slowly.

Additionally, it is challenging for regulators to lift present restrictions due to the current restrictions on the capacity to monitor drone traffic and control the airspace that drones use. Although most programmes are still in their infancy, the development of drone traffic management technologies will help.

Hiranandani explained, “Going forward, the drones industry has significant growth potential, which is reflected in the volume of M&A activity in the sector. An increasing number of well-established drone manufacturing firms are either acquiring or partnering with smaller firms with niche capabilities.”

“These acquisitions or partnerships are often aimed at entering niche markets, where regulatory frameworks do not allow foreign companies to bid exclusively for domestic projects. As a result, favourable regulations around beyond visual line of sight (BVLOS) and unmanned airspace management will be key to the growth of drone applications,” Hiranandaniadded.