Global Earth Observation Drones Market

Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The "Earth Observation Drones Market - A Global and Regional Analysis: Focus on Application, End User, Drone Type, Sensor Type, and Country - Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.

The global Earth observation drones market was valued at $9,014.6 million in 2021, and it is estimated to reach $18,214.9 million by 2032 at a compound annual growth rate (CAGR) of 6.88% during the forecast period 2022-2032. The major factor driving the market growth is expected to be the growing adoption of drones for industrial and commercial applications. During the COVID-19 pandemic period, the adoption of drones for commercial applications such as solar panel inspections, pipeline inspections, oil and gas field monitoring, and agriculture monitoring witnessed a significant rise. Civil-government agencies have also started adopting drones for applications such as border surveillance, civilian monitoring, disaster management, etc.

Unmanned aerial vehicles (UAVs), or drones, have been used by the military for defense applications such as surveillance, reconnaissance, and situational awareness. The earliest traces of drones date back to 1917, the World War I period when radio control techniques were used to develop the unnamed aerial system. From 1995 onwards, drones for military applications started gaining traction as the U.S. Air Force developed and used the MQ-1 Predator drone, which cost approximately $40 million apiece for surveillance, reconnaissance, and combat applications in conflict zones.

Over 90 years of research and development on drones by military agencies steered the path for the development of the first drone for non-military applications by 2006. In the same year, the Federal Aviation Administration (FAA) issued its first commercial drone permit. Following this, government agencies began testing drone technologies for public safety applications, such as disaster relief, environmental monitoring, and border surveillance. At the same time, the commercial market started adopting drones for industrial applications such as pipeline inspections, site monitoring, and agriculture evaluation.

At present, utilizing drones for various Earth observation applications such as surveying, mapping, inspections, and surveillance, as well as collecting analytical geospatial data, is advancing at a substantial pace. The related drone services and manufacturing businesses are mushrooming as well. This is owing to the capabilities of drones to collect large volumes of geospatial data more efficiently, quickly, and cost-effectively as compared to satellite imagery.

For the 2021-2032 period, the global Earth observation drones market is expected to be dominated by the surveillance and reconnaissance application segment.

Based on end-user, the Earth observation drones market is expected to be dominated by commercial end-users. Commercial end-users are expected to garner significant share and growth as government regulations have become more relaxed and drones continue to be cheaper. Moreover, the need for technologically advanced tools in the farming, agricultural, and energy sectors will further generate demand for drones from the commercial end.

Demand - Drivers and Limitations Following are the drivers for the Earth Observation Drones market:

Increase in Demand for Drones Post COVID-19

Entry of Multiple Downstream Geospatial Service Providers

Increasing Utilization of Drone Imagery Along with Satellite Imagery for Enhanced Geospatial Intelligence

Increasing Need for On-Demand Aerial Survey Requirements

Following are the challenges for the Earth Observation Drones market:

Government Regulations for Drone Manufacturing and Sales

Need for Qualified Operators to Conduct Drone Imaging Missions

Impact of Russia-Ukraine Conflict on Commercial Industry

Drone Batteries Supply Chain Shortage

Following are the opportunities for the Earth Observation Drones market:

Integration of Artificial Intelligence in Drones and Imagery Analytics

Growing Adoption of Earth Observation Drones by Civil Government

Company Type 1: Key Earth Observation Drones Manufacturers

General Atomics Aeronautical Systems, Inc.

Company Type 2: Emerging Market Participants

5 Markets - Competitive Benchmarking & Company Profiles

General Atomics Aeronautical Systems, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/iii4zv

Global Earth Observation Drones Market

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