SEATTLE, July 22, 2021 (GLOBE NEWSWIRE) — The global construction drone market was valued at US$ 5,121.6 Million in 2020 and is estimated to account for 14,123.3 Million in terms of value by the end of 2028
Drones are used in construction industry for surveying and inspection purposes. They are equipped with downward-facing sensors, such as red, green, blue (RGB), multispectral, thermal or Light Detection and Ranging (LIDAR). The growing adoption of construction drones in construction projects such as surveying, geographical mapping, and inspection of infrastructure is driving the market growth during the forecast period. These drones offer multiple benefits such as real-time data acquisition, accurate image capturing, and accessibility to hazardous areas. Moreover, they can be operated remotely or at the site of construction through remote and batteries.
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Market Drivers
- The increasing population growth and urbanization is expected to drive market growth
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.
Market Opportunities
- The increasing demand of construction drone in commercial segment
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.
Market Trends
- The growing adoption of advanced technologies such machine learning and artificial intelligence are expected to drive the market growth
Construction drones are integrated with artificial intelligence (AI) technology in order to understand their surroundings better such as map areas, to track and monitor the movement of specific objects, as well as offer precise analytical feedback. Moreover, these drones offer real-time, data-driven decision-making ability to their users by ensuring rapid capturing, processing, and transferring of data. Furthermore, major players across different regions are focusing on developing products such as high quality drones with new features and latest technologies to gain a competitive edge in the market. Industries are developing solutions and services with new features to cater to the specific demand of end users.
Competitive Landscape:
Major companies involved in the global contactless payments market are 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.
For instance, in February 2020, TraceAir, a U.S.-based technology company, announced collaboration with Independent Constructions, another U.S.-based company that provides construction services, launched new drone-powered Haul Router tool. The tool helps foremen to make data-driven decisions with regards to new or existing haul roads.
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Market segmentation:
- By Type:
- Fixed Wing Drone
- Rotary Wing Drone
- By Application:
- Surveying Land
- Infrastructure Inspection
- Security & Surveillance
- Others
- By End-User:
- Residential
- Commercial
- Industrial
- Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
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