global construction drone market size 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 enables construction teams to get holistic view of construction site, materials, people, and machinery, thereby assuring workplace safety and security. Construction drones are increasingly being used for applications such surveying lands, geographical mapping, and inspection of infrastructure due to the advantages such as real-time data acquisition, accurate image capturing, and accessibility to hazardous areas
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Exponential population growth coupled with rapid urbanization has resulted in increase in residential and nonresidential construction activities in the developed and developing countries such as the U.S., Canada, the UK, Russia, India, China, and Brazil. For instance, in August 2020, Statistics Canada, a national statistical agency of Canada, released a report on economy of Canada. According to this report, total investments in building construction registered an increase of 12% in June 2020 as compared to May 2020. This is expected to drive the growth of construction drone market during the forecast period.
Rise in demand for construction drones is attributed to development of the construction industry around the globe, which leads to rise in the need for surveying of vast land mass containing uneven ground and rocky obstacles. These tasks can be performed efficiently and quickly by construction drones as compared to humans. For instance, in September 2019, Survey of India (SoI) and National Mapping Agency (NMA) launched a program for large-scale mapping (LSM) in the country, which is expected to use professional grade construction drones. This is expected to drive the growth of construction drone market during the forecast period.
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Asia-Pacific region dominated the global construction drone market in 2019, in terms of revenue, accounting for around 41.0% share of the global market, followed by North America and Europe respectively. Also, Asia-Pacific region is expected to register the highest CAGR of 17.8% during the forecast period. The developing countries such as India, Indonesia, and China have been recognized as the lucrative markets for construction drone, owing to rapid technological development. China is the major shareholder in the construction drone market, in terms of consumption and manufacturing. Furthermore, the developing economies, such as China and India, are expected to support market expansion, owing to increase in demand for new roads and highway construction. For instance, in October 2018, India planned to build a four-lane bridge over the river Brahmaputra in Assam state, which is estimated to be completed by 2026.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging construction drone market trends and dynamics.
- Depending on type, the rotary-wing drones segment dominated the construction drone market, in terms of revenue in 2019, and is projected to grow at a significant CAGR during the forecast period.
- On the basis of application, land surveying has garnered highest share of revenue in 2019.
- By end user, the residential segment registered highest revenue in 2019.
- Asia-Pacific region is projected to register the highest growth rate in the coming years.
Market players-
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. .________________________________________________________________________
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