Construction Drone Market to Reach US$ 14,123.3 Million by 2028 - Coherent Market Insights

The global construction drone market was valued at US$ 5,121.6 Million in 2020 and is expected to surpass US$ 14,123.3 Million by 2028, registering a CAGR of 15.9% during the forecast period (2021-2028), according to the Global Construction Drone Market Report, by Type (Fixed Wing Drone and Rotary Wing Drone), By Application (Surveying Land, Infrastructure Inspection, Security & Surveillance, and Others) By End user (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.

Implementation of rules and regulations related to the usage of drones imposed by several countries for ensuring the safety and privacy of people is expected to drive market growth during the forecast period. For instance, in July 2020, European Union Aviation Safety Agency (EASA) published the European regulations for the usage of drones to ensure their safe and secure operation in commercial and noncommercial applications. In addition, in September 2018, in India, Directorate General of Civil Aviation (DGCA) had approved the usage of drones for inspection, photography, delivery operations, and many other applications. Thus, all these factors are anticipated to encourage the use of construction drones, thereby accelerating the growth of global market during the forecast period.

Furthermore, government across the globe are focusing on investing in residential and infrastructure related constructions in order to develop and improve the standard of living of the people. For instance, in June 2019, Japan invested $367 million for infrastructure projects in Southeast Asian countries such as Indonesia, Singapore, Thailand, and the Philippines. This is expected to increase the demand for construction drones in these countries and drive market growth during the forecast period.

Global Construction Drone Market - Impact of Coronavirus (Covid-19) Pandemic

Globally, most of the countries are affected by COVID-19 pandemic and have announced lockdown. The global construction drone market is expected to be impacted significantly by COVID-19 as China is one of the major suppliers of raw materials & finished products for construction drones. Drone manufacturers across the globe are struggling to meet production schedules as the COVID-19 pandemic continues to impact Chinese manufacturing systems. For instance, Skydio, a U.S.-based company that manufactures drones is suffering from the supply-chain disruption caused by slowdown in the manufacturing of drone components. The construction industry is facing a reduction in production, disruption in supply, and price fluctuations as the manufacturers are forced to slow down their manufacturing operations till the pandemic situation is not recovered. Furthermore, construction operations, as well as land surveying and mapping, have been suspended in various regions, resulting in a significant drop in the demand of construction drones during the pandemic.

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Key Trends and Analysis of the Global Construction Drone Market:

• North America held dominant position in the global construction drone market in 2020 and is expected to retain its dominance throughout the forecast period. This is owing to North America being the largest manufacturer of drones, which in turn is expected to increase demand for construction drones in the region. Governments are partnering with manufacturers and technology companies to develop countermeasure technologies for construction activities. For instance, in November 2020, the Drone Federation of India (DFI) announced collaboration with Amazon Web Services to launch the Adopt Drones program in order to enhance adoption of AI-driven drone solutions.
• Asia Pacific region is expected to show significant growth over the forecast period. The demand for construction drones is increasing in Asia Pacific region, owing to the rapid development of construction industry in the region, which then increases the need for surveying vast land masses. The surveying tasks can be conducted efficiently by the 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.
• Among end user, commercial segment held a dominant position in the market in 2020 and is expected to retain its dominance during the forecast period. The increasing demand for construction drones in commercial industry for surveying & mapping, security & surveillance, etc. are fuelling the market growth during the forecast period. The rising use of drone analytics to track the progress of construction activities is also expected to fuel the growth of the construction drone market. The construction industry uses drones to carry out inspection, aerial monitoring, etc., and provide actionable insights.
• Major players operating in the global construction drone market include 3D Robotics, Inc., AeroVironment, Inc., DJI, FLIR Systems, Inc., Insitu, Inc., Leptron Unmanned Aircraft Systems, Inc., Parrot Drones, Precision Hawk Inc., Trimble Inc. Yuneec International Co. Ltd., DroneDeploy Inc., Yuneec International Co. Ltd., Boeing, Delair SAS, Autel Robotics, BirdsEyeView Aerobotics, EHang, Aerialtronics, Kespry Inc., and Skydio, Inc.