Rapid urbanization, increase in residential and non-residential construction activities, and surge in government spending on infrastructure development drive the growth of the global construction drone market. Asia-Pacific contributed the largest market share in 2019, and will continue to dominate in terms of revenue by 2027. The manufacturing activities of construction drone and its accessories have been stopped due to lockdown measures imposed by governments of many countries.
Portland, OR, Oct. 29, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global construction drone industry generated $4.80 billion in 2019, and is estimated to reach $11.96 billion by 2027, witnessing a CAGR of 15.4% from 2020 to 2027. The report offers a detailed analysis of changing market dynamics, key winning strategies, top segments, business performance, and competitive landscape.
Rapid urbanization, increase in residential and non-residential construction activities, and surge in government spending on infrastructure development drive the growth of the global construction drone market. However, the scarcity of skilled workforce and high initial costs hinder the market growth. Contrarily, technological advancements and exemptions on drone usage present new opportunities during the forecast period.
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The manufacturing activities of construction drone and its accessories have been stopped due to lockdown measures imposed by governments of many countries. Moreover, the supply of raw materials has been hindered.
The demand for construction drones has been decreased significantly as the construction activities have been stopped to curb the spread of coronavirus.
With lockdown restrictions eased off, construction and manufacturing activities are getting back on track. The demand and supply would increase gradually.
The report provides a detailed segmentation of the global construction drone market based on type, application, end user, and region.
Based on type, the rotary-wing drones segment contributed to more than four-fifths of the total market share in 2019, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 15.8% from 2020 to 2027. The report also provides analysis of the fixed-wing drones segment.
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By application, the land surveying segment contributed to the largest share, holding nearly half of the global construction drone market in 2019, and is expected to maintain its dominant position by 2027. However, the infrastructure inspection segment is projected to portray the largest CAGR of 17.1% during the forecast period.
Based on region, Asia-Pacific contributed the largest market share in 2019, accounting for more than two-fifths of the market, and will continue to dominate in terms of revenue throughout the forecast period. The same region is expected to register at the highest CAGR of 17.8% from 2020 to 2027. The report also discusses regions such as Europe, North America, and LAMEA.
Leading market players analyzed in the research include 3D Robotics, Inc., DJI, AeroVironment, Inc., Insitu, Inc., FLIR Systems, Inc., Parrot Drones, Leptron Unmanned Aircraft Systems, Inc., Trimble Inc., PrecisionHawk, and Yuneec International Co. Ltd.
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