According to Fact.MR, a market research and competitive intelligence provider, the Drone Surveying Market size is expected to reach a valuation of US$ 1380.4 million in 2023. The market is further expected to grow at a CAGR of 19.3% during the forecast period and will achieve a valuation of US$ 8061.5 million by the end of 2033.
The drone surveying market is going through a technological revolution. Nowadays drones have improved battery life, a better quality of image, and increased speed in comparison to what they used to be 3-5 years back. The drone surveying industry is growing rapidly amid rising demand across different industries such as energy, infrastructure development, mining, agriculture, real estate, and transportation among others.
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The market is flooded with entrants of new market players across different segments such as drone hardware, software, and services. The industry is receiving huge interest from investment firms, and drone companies are being invested heavily in the last few years. With the growing adoption of drones in different end-use industries, it is expected that the market will continue to witness growing double-digit demand during the forecast period of 2023-2033.
Key Takeaways from Market Study
- The global drone surveying market is expected to grow at a CAGR of 19.3% over the next 10 years.
- East Asia is to witness the fastest growth of CAGR 23.2% during the forecast period.
- US drone surveying market is estimated to reach a valuation of US$ 2540.0 million by the end of 2033.
- Demand for drone land surveying services will be high in the coming years, and it will command more than 40% of the total market share.
- India is poised to become one of the fastest drone surveying markets in the world.
Rising Technological Advancement in the Drone Service Industry to Shape the Future of Drone Surveying Market, says a Fact.MR analyst.
Competitive Landscape
The global drone surveying market is still in the initial phase of the life cycle. The industry is changing at a light speed with continuous technological advancement and expanding service offerings. The drone survey companies are witnessing huge interest from private equity and venture capitalist. Investment firms are investing huge amounts of money in drone survey companies.
- In September 2021, Enercomp, a drone manufacturing, services, and AI tech startup raised its angel round of funding of US$ 200K from ah! Ventures angel platform.
- In May 2022, India-based drone startup Garuda Aerospace secured undisclosed funding from multiple investors led by Ocgrow Ventures. The start-up is also eying larger funding of US$ 30 million in the next 1 year or so.
Major Stakeholders
- 3DroneMapping
- Aerial drone solution
- Aerial Robotix
- Aerial Vision Ltd
- AerialWorks Inc.
- AERIUM Analytics
- Aero Enterprises
- Aerodrome
- Aeroview Services
- Afridrones
- Aivia Group
- Artrabia
- Astral Aerial Solutions
- AUAV
- Avian UAS
- AviSight
- Cyberhawk
- DATA PKT Aviation
Market Development
The global drone surveying market is highly unorganized as it is a very new market comparatively. The market is expected to become more organized and valuable in the coming years owing to growing participation from all industries. From Industry market players to investment firms, the drone surveying market is witnessing huge interest and is expected to reach a new height in years to come. The drone surveying market saw few notable mergers & acquisitions and other corporate transactions.
In January 2022, mdGroup completed the acquisition of GeoCue strengthening drone surveying offerings. The company is also planning to expand its businesses to the US post-acquisition.
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Segmentation of the Drone Surveying Market
- By Survey Type:
- Land Survey
- Property Survey
- Rail Survey
- Infrastructure Survey
- By End-Use Industry:
- Energy
- Construction
- Transportation & Warehouse
- Agriculture
- Mining, Oil & Gas Extraction
- Public Administration
- Real Estate & Industrial Plant
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
What differences can the drone surveying market report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the drone surveying market and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the Drone surveying market
- Micro-economics factors that may hamper the prospects of some of the key segments
- Recent spate of research and development (R&D) funding on key drone surveying markets
- New business models paving way for disruptions in demand dynamic of key segments
- Regional markets that will be future engine of growth and the industry trends that will support these markets
- Challenges overcoming which may offer industry players competitive edge
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