CHICAGO, Feb. 11, 2022 /PRNewswire/ -- Disruption - Potential opportunity worth USD 99 Bn is expected to open up in the drone industry, with drone services being the next big trend having an opportunity worth $25-30 Bn over the next few years. As per MarketsandMarkets research -
- It is estimated that by 2030 Civil & Commercial drones will record more than 50 million units sales annually.
- Aerial Delivery Drones with payload capacity 5-10 Kg is predicted to record the highest growth in the years to come.
- Drone Package Delivery Charge today is USD 1.5 to 3 and is estimated to decline with further adoption across industry.
According to MarketsandMarkets analysis,
- Unmanned aerial vehicle market is estimated to grow at a CAGR of 16-17% in the coming decade, driven by increased deployment of drones across various applications such as inspection, and disaster relief, among others.
- Adoption of upcoming technologies such as AI, 3D printing, digital twin, and cloud computing are resulting in numerous product innovations in the drone industry such as drone taxis, swarm drones, and connected drones, among others.
- Adjacent markets of drone services hold a potential of over USD 88.52 Bn, majority of which will be contributed by data analytics.
- Vertical takeoff and landing (VTOL) is estimated to register the highest growth of 17-18% CAGR by 2030 within the UAV market.
Currently, businesses have low access to primary intelligence to clarify some unknowns and adjacencies in these opportunity areas -
- Adoption levels of UAVs in Military applications is high. It is expected to range between 40-50% globally during 2026, however, in developed countries it is approaching 60%. The UAVS are witnessing increased demand owing to the convenience of use offered by them, as well as their capability to lessen casualties significantly.
- Increasing focus on border management and search & rescue operation scenario in Government & law enforcement application drives the adoption of UAVs.
- Adjacent markets such as Drone services, drone packing & delivery provide immense growth opportunities owing to generation of huge demanding for quicker analysis and reduced turnaround time.
- The focus on adopting UAVs for various applications is primarily high in developed economies as compared to the emerging countries owing the fact that drones and its adjacent market attracts huge capital. Developed countries have more focused and targeted towards UAVs and its applications across the multiple domains.
- The developed region like North America dominates the UAV market with 37%, followed by Asia Pacific with 30% share Europe with 23% market share.
Some of the growth problems encountered by drones' companies are:
Customer prioritization and assessing unmet needs:
- What are the disruptions in our clients' businesses? How can we support them for additional growth?
- Who are the most potential customers going forward? Should they provide platform, services, or software solutions?
- What are the key unmet needs of end users? Who are the key stakeholders in different applications? Do vendor selection criteria differ by applications? Which new product features should be added to the existing drone products?
Where to play:
- Which applications and end-use industry areas should the client focus on? Should it be construction & mining, agriculture, oil & gas or any other?
- Which regions should they place bets on? Should they continue with developed countries or do developing countries offer more growth opportunities?
Building a compelling Right-to-Win (RTW):
- For M&A, which are the right targets? Should they target platform manufacturers, software providers or service providers? Should they enter new markets directly or through partners?
- How can they differentiate from top players? What is the right-to-win vs ours?
Key uncertainties/perspectives which industry leaders seek answers to:
For drones companies:
- What are the market entrance regulation and norms for emerging economic countries?
- What would be the change in revenue mix in near future, and what would be opportunity for star-ups in near five years?
- Will UAVs become affordable for consumer application, or will it continue being used for specific applications?
- What drone services will be relevant and redundant in the next 5 years?
- How does the aftermarket for UAVs look like in the next 10 years?
- What are the core applications of UAVs? Which application segment is expected to dominate the market for coming years?
- Currently, does the market look lucrative or saturated. How would be the scenarios going forward.
For Companies in Adjacent markets:
- Which products and solutions should the company focus? Should they have a tailored offering for new platform, vs only bringing their existing products?
- How are companies planning on providing aftermarket services?
- When can a 100% UAVs adoption be expected?
- What will be the overall impact of UAVs on competitive markets?
Therefore, MarketsandMarkets research and analysis focuses on high growth and niche markets, such as fixed wing VTOL UAVs, drone analytics, drone logistics and transportation, drone services, and related markets, which will become ~80% of the revenues of drones' companies in the next 5-10 years.
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