CONSTRUCTION DRONE MARKET ANALYSIS

Construction Drone MarketSize and Trends

The global construction drone market is expected to witness significant growth during the forecast period (2021–2028). The increasing population growth and urbanization has also played an important role in the growing demand of commercial drones across the globe for residential and non-residential activities. For instance, the population of China had increased from 1.4 million in 2020 to 1.3 million in 2019. The increasing demand for commercial drones in applications such as land survey and infrastructure inspection is driving the market growth during the forecast period. For instance, in August 2018, STRABAG, an Austria-based construction company deployed DJI Phantom 4 RTK drone for the survey of roads and pipelines. Furthermore, the increasing adoption of commercial drones by real estate companies are fueling the market growth during the forecast period. Real estate companies are using construction drones for filming and taking photos of construction sites, resorts, and vacant lands for the purpose of creating aerial maps & 3D models as well as for marketing. For instance, in June 2017, RE/MAX, a U.S.-based real estate company announced a strategic partnership with DroneBase, a U.S.-based drone service provider company, in order to provide construction drones to real estate professionals working for RE/MAX LLC for aerial imagery of project sites. These factors are expected to drive growth of construction drone market during the forecast period.

Statistics:

North America held dominant position in the global construction drone market in 2020, accounting for 37% share in terms of value, followed by Asia Pacific and Europe.

North America held a dominant position in the global construction drone market in 2020 and is expected to retain its dominance throughout the forecast period. This is attributed to the presence of major key players such as 3D Robotics, Inc., Dedrone, AeroVironment, Inc., DJI, FLIR Systems, Inc. Boeing, and others in the region.  The increasing demand for drones for military and commercial applications in the U.S and Canada is also propelling the market growth.

Asia Pacific is also expected to exhibit significant growth during the forecast period owing to the recent changes in the drone regulations in several countries. China has become the global hub for manufacturing drones and provides subsidy schemes and other favorable domestic policies for drone purchases to promote the adoption of drones in various industrial sectors. For instance, according to Coherent Market Insights’ analysis, there were approximately 1,350 drone manufacturing companies in China in 2019 as compared to 140 drone manufacturing companies in the year 2013. The increasing demand for drones in mapping, surveying, and surveillance application in the defense industry is aiding in the market growth.

Security & Surveillance segment is expected to drive the market growth during the forecast period.

Figure 2: Global Construction Drone Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2028

The global construction drone market was valued at US$ 5,121.6 Mn in 2020 and is expected to reach US$ 14,123.3 Mn by 2028 at a CAGR of 15.9% between 2021 and 2028.