Construction Drone Market Outlook - 2027
The 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 is an unmanned aerial vehicle (UAV), which finds its application in construction activities. Manual operation and automated operations of construction drone are possible from remote places through remote and battery. Construction drone enables construction teams to get holistic view of construction site, materials, people, and machinery, thereby assuring workplace safety and security. Furthermore, it is increasingly applicable in surveying, geographical mapping, and inspection of infrastructure, as multiple benefits are associated with it such as it facilitates real-time data acquisition, captures accurate image, and offers accessibility to hazardous areas such as collapsing trenches, quarry, and excavated areas.
Rise in demand for construction drones can be attributed to the rapid development of the construction industry across the globe, as this leads to increase in need for surveying of vast land mass, which contains 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 construction drone market growth during the forecast period.
Governments around the globe are investing in residential and infrastructural construction to develop their economy and improve the standard of living. For instance, in 2019 Bloomberg, based in New York, U.S., reported that Japan invested $367 billion for infrastructure projects in Southeast Asian countries such as Indonesia, Singapore, Thailand, and the Philippines. This is expected to augment the growth of the construction sector, which, in turn, is likely to contribute toward the growth of the construction drone market during the forecast period.
Exponential growth of population 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.
By Type
Rotary wing drone segment is projected to grow at a significant CAGR
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, China based DJI, a leader in aerial photography systems. launched Mavic Air 2, which has 8GB on-board memory storage and 3,500 mAh battery for aerial photography and video surveillance of residential construction sites.
Construction drone is an assembly of camera, battery, remote control, propeller, and GPS antenna, which expensive, thereby negatively impacting the profit margin of manufacturers. This is expected to hamper the growth of the market. Furthermore, lack of skilled manpower for designing, development, and operation of drones restrains the growth of the global market.
By Application
Land Surveying segment holds dominant position in 2019
Advance 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 being increasingly adopted in developing drones. For instance, in October 2019, U.S. based Trimble Inc., a hardware, software, and services technology company, launched GNSS board, which is particularly designed for Trimble UAS1 that enables satellite-based positioning. This is expected to boost the growth of the market during forecast period.
The global construction drone market is segmented into type, application, and region. Depending on type, the market is divided into fixed wing drone and rotary wing drone. On the basis of application, it is fragmented into surveying lands, infrastructure inspection, security & surveillance, and others. . By end user, it is further bifurcated as residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific dominated the market in 2019, and is anticipated to grow with highest CAGR throughout the forecast period.
Competition Analysis
Key companies profiled in the report for the construction drone market 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 major players to remain competitive in the market. For instance, in June 2019, U.S. based AeroVironment, Inc., an aircraft equipment manufacturer, acquired Pulse Aerospace, LLC, a developer and supplier of small VTOL UAS based in Los Angeles, US. This acquisition is expected to expand AeroVironment’s customer base in the U.S.
By Region
Asia-Pacific holds a dominant position in 2019 and is expected to grow at a significant rate during the forecast period.
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 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 market of construction drone are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the construction drone industry.
Analyst Review
The global construction drone market is expected to grow at a significant rate in the near future, due to increase in adoption in construction industries for purposes such as surveying land, 3D mapping, and security & surveillance. Rapid urbanization and exponential increase in population have resulted in rise in residential and nonresidential construction activities around the globe. This is expected to accelerate the growth of construction drone market during the forecast period. Moreover, rise in investments by governments in infrastructure and construction sectors around the globe has led to increase in construction activities, which is expected to push growth of construction drone market during the forecast period.
The global construction drone market has witnessed considerable growth in regions such as Asia-Pacific, Africa, and Latin America, owing to its features such as high endurance, high stability, and long range. This makes the task of surveying lands & geographical mapping cost-effective and safe. Moreover, the integration of technologies in construction drones such as artificial intelligence (AI), image processing, and global navigation satellite system (GNSS) are expected to provide lucrative opportunities for new players.
Key players operating in construction drone market are taking continuous efforts to improve their product offerings to cater to ever changing and dynamic requirements of their customers. Players operating in the market have adopted acquisition, product launch, and partnership as their key growth strategies to gain a stronger foothold in the market. Thus, all these factors together are anticipated to significantly contribute toward the growth of global construction drone market during the forecast period.
The product launch is key growth strategy of construction drone industry players.
Fluctuating raw material prices are the effecting factor for construction drone market.
To get latest version of construction drone market report can be obtained on demand from the website.
The construction drone market size was valued at $4,800.0 million in 2019.
Based on type, the rotary-wing drones segment holds the maximum market share of the construction drone market in 2019.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
The construction drone market is projected to reach $11,968.6 million by 2027.
Rise in construction activities in developing countries, and increase in spending on infrastructure development are the key trends in the construction drone market.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
The applications of construction drone includes land surveying, infrastructure inspection, security & surveillance, and others.
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