DUBLIN, May 18, 2023 /PRNewswire/ — The “Earth Observation Drone Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Application, by End-User, By Region” report has been added to ResearchAndMarkets.com’s offering.
Global Earth Observation Drone Market is expected to grow at a rapid CAGR to 2028
Drones are increasingly being used for industrial and commercial purposes, which is expected to be a key contributor to the market’s growth.
Moreover, drones that are used for earth observation are utilized for a variety of tasks, including environmental monitoring, disaster management, surveying and mapping, search and rescue, surveillance and reconnaissance, industrial inspection and monitoring, agriculture and forestry, which is also contributing to the growth of earth observation drone market.
A typical drone has hardware and software components such as a camera or sensors, a controller, detect and avoid system, and a navigation system. Drones are currently employed in the military, civil administration, commercial, and leisure sectors. Companies across the drone sector are creating cutting-edge sensors for drones so they can deliver statistical data and analytical information for regularly important activities.
Furthermore, companies are putting more emphasis on creating long-duration drones that can stay in the air for extended periods of time at greater altitudes. The world’s first “Sea-Air Integrated Drone” was unveiled in January 2022 by the Japanese telecommunications giant KDDI, Prodrone Co., Ltd., and QYSEA during a flight showcase at the Hakkeijima Sea Paradise in Yokohama.
European Deep Tech investment company Boundary Holdings has made four major investments in the drone industry, which include USD.5.8 million in Elistair for Series B, USD 1.6 million in InfiniDome for pre-Series A, Asteria & Swiss Drones. In the year 2020, Joby Aviation and Lilium received major investments in the drone industry across the world, in which Joby Aviation had two investments, including its acquisition of Uber Elevate through M&A, for a total of USD 590 million.
Meantime, in the year 2020, Lilium also had two investments for a total of USD 240 million. With the addition of these contributions, it will serve as a foundation for Lilium’s recently finished manufacturing facilities’ preparations for serial production as well as support the development of the Lilium Jet.
During the COVID-19 pandemic, the advantages of using drones for numerous commercial, industrial, and civil government purposes were fully appreciated, and it is expected that drone use will continue to rise after the COVID-19 pandemic. To help people during the pandemic in China, Micro Multi Copter commercial drone manufacturer deployed more than 100 commercial drones.
The surge in Demand for Drones
Drone adoption is rising in a variety of civil-government and industrial applications thanks to the dynamic use of drones during the COVID-19 era. These include using drones to inspect infrastructure, such as railways, bridges, and oil and gas fields.
Drones and autonomous airborne systems are currently more in demand for tasks such as monitoring construction sites and conducting inspections of solar panels. Countries all over the world have relaxed regulations pertaining to drone operations to meet this demand and support the Earth Observation Drone Industry.
As of 2021, 29,500 drones had been registered in India, and the government also took the initiative to create a database of these types of unmanned flying devices.
Multiple downstream providers of Geospatial Services
For downstream geospatial service providers, the increased demand for drones for commercial, industrial, and civil government applications has simultaneously opened a huge potential niche.
To make informed judgments, Earth observation applications, including agriculture monitoring, precision agriculture, farming, fishing, disaster management, emergency response, inspection, etc., need dynamic and cutting-edge analytical data.
For instance, tracking and analyzing soil moisture and texture enables farmers to better care for their crops and spot areas that need fertilizer or pesticide application to keep them safe.
On-Demand Aerial Survey Requirements are Growing
When drone imagery is needed for a specific task at a specified moment, the process is referred to as an on-demand aerial survey. Aerial survey services on demand are becoming more and more popular among businesses thanks to the development of sophisticated analytical tools and sensors for gathering aerial information.
Additionally, having and using drones calls for qualified drone pilots, licenses, and sufficient fly zone authority. Companies and industries that regularly use drones for inspections and monitoring may be able to afford to purchase these. Some business companies rely on on-demand aerial survey services because they don’t need these approvals as frequently.
Government Rules on Drone Production and Sales
One of the main obstacles facing the Global Earth Observation Drone Market is government regulation. Guidelines for the use, manufacture, and export of drones and related hardware are mandated by each nation’s aviation and drone regulating organizations.
For instance, in the United States, the Federal Aviation Administration (FAA) oversees regulating drone use. Drone laws are required to be enforced in China by the Civil Aviation Administration of China (CAAC) and in the UK by the Civil Aviation Authority (CAA).
Key players are developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
Company Profiles: Detailed analysis of the major companies present in the Global Earth Observation Drone Market.
- Parrot Drone SAS
- Lockheed Martin Corporation
- AeroVironment, Inc.
- General Atomics Aeronautical Systems, Inc.
- Northrop Grumman Corporation
- Embention Hubsan
- AgEagle Aerial Systems Inc.
Earth Observation Drone Market, By Application:
- Environmental Monitoring
- Disaster Management
- Surveying and Mapping
- Search and Rescue
- Surveillance and Reconnaissance
- Industrial Inspection and Monitoring
- Agriculture and Forestry
Earth Observation Drone Market, By End User:
Earth Observation Drone Market, By Region:
- North America
- United States
- Europe & CIS
- United Kingdom
- South Korea
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- South America
For more information about this report visit https://www.researchandmarkets.com/r/h5hvum
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