With a new year come new challenges, new market players, new use cases and new regulatory hurdles for the commercial drone industry. For this reason we’ve worked hard to develop our brand new updated Drone Market Report 2020! To mark the release of the new update of our flagship report, here are the most important market trends that you need to know about within the drone industry in 2020-2025.
1. The Drone Market will Grow to 42.8 billion USD by 2025
The big picture, the most important figure to take away, is 42.8 billion USD. That is what the drone market size will be in 2025. From generating 22.5 billion USD in 2020 it will grow at a CAGR (Compound Annual Growth Rate) of 13.8% to almost double that in 2025. This fairly stable year on year growth – seen in our graphic – is also a reflection of the ongoing high investments and the consolidation of the commercial drone market. It is a less optimistic picture than what we saw in 2019, but nevertheless shows that the commercial drone industry remains resilient in spite of emerging challenges. The drone industry has matured from explosive and exponential growth to steady returns, increased adoption and a step up from the so called trough of disillusionment.
2. Energy is Still the Largest Industry, but Transport is Growing Rapidly
The Energy sector is the largest industry on the commercial drone market in 2020 and will continue to be so in 2025. However, the Transportation & Warehousing industry will continue to be the fastest growing. This is partly because, as defined by the North American Industry Classification System (NAICS), this vertical includes industries providing transportation of passengers (although air taxis still will not sell for some time) and cargo, warehousing and storage for goods, and support activities related to modes of transportation like inspection and maintenance of infrastructure. While Agriculture and Construction currently follow energy as the top industries in the drone market, the growth of the Transport sector will mean that by 2025 it will be the 2nd largest industry within the market.
3. Asia is Now the Biggest Regional Drone Market in the World
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