In 2022, the global drone market will be worth an estimated USD30.6 billion, according to the latest Drone Market Analysis 2022-2030 from Drone Industry Insights and the updated market model forecasts a Compound Annual Growth Rate (CAGR) of 7.8% until 2030.
“When analysed separately, the commercial market is set to expand at a faster rate of 8.3% while the recreational market is likely to contract in many regions,” according to the report. “However, there is still some chance that excitement around cool technology such as first-person-view drones (e.g. the recently-released DJI Avata) might provide additional boost to the recreational market. Overall, our drone market analysis shows that the market as a whole (commercial + recreational) will be worth USD55.8 billion by the year 2030.”
“This year we have expanded our forecast horizon beyond five years and all the way to 2030. Among the reasons for this is the increased maturity and security of the drone market, which makes revenues more predictable and thereby allows forecasts to become even more reliable. Additionally, there have been a lot of movements in the regulatory space, which encompass both delays as well as advances in new legislation. So, a market projection until 2030 provides a timeframe that allows for the effects of these laws to take place and for activities to ramp up and operations to be scaled once drone companies adjust to these regulations.”
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