Impact of COVID-19 on the Global Drone Services Market 2020-2027; Growing at a Revised CAGR of 80.6% due to the Pandemic

DUBLIN, May 28, 2020 /PRNewswire/ -- The "Drone Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The global analysis and forecast periods covered are 2020-2027 (current & future analysis) and 2012-2019 (historic review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.

Amid the COVID-19 crisis and the looming economic recession, the Drone Services market worldwide will grow by a projected US$124.1 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 80.6%.

Aerial Photography & Remote Sensing, one of the segments analyzed and sized in this study, is forecast to grow at over 89.2% and reach a market size of US$54.9 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Aerial Photography & Remote Sensing market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 74.1% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$2.1 Billion to the region's size over the next 7 to 8 years. In addition, over US$5.5 Billion worth of projected demand in the region will come from Rest of the European markets. In Japan, the Aerial Photography & Remote Sensing segment will reach a market size of US$1.4 Billion by the close of the analysis period.

Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Drone Services market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 66.2% over the next couple of years and add approximately US$7.3 Billion in terms of addressable market opportunity.

Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Drone Services market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:

• Aerobo
• Airware
• Cyberhawk Innovations Ltd.
• DroneDeploy Inc.
• Phoenix Drone Services LLC
• Prioria Robotics Inc.
• senseFly S.A.
• Sharper Shape Inc.
• Sky-Futures
• Unmanned Experts Inc.

Key Topics Covered

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• An Introduction to Drones
• Versatile and Multifaceted Functionality of Drones Builds Strong Business Casefor Drone Services
• Spectacular Rise on the Cards for Drone Services Market
• US and Europe: Primary Revenue Contributors
• Number of Drones (in 000s) in the US for the Years 2019 and 2025
• Global Competitor Market Shares
• Drone Services Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
• Impact of COVID-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Growing Use of Drones in Surveying and Mapping Applications Widens Opportunities for Drone Services Market
• Remote Sensing: High Growth Application Vertical
• 3D Modelling Made Highly Effective with Drone Technology
• Fast Evolving Role of Drones in Environmental Monitoring Augurs Well
• Seamless Data Acquisition & Analytics Widen Addressable Market for Drone Services
• Disaster Risk Management Made Effortless with Drones
• Industrial Inspection, Surveillance and Tracking: Drones Come to Fore with Great Promise
• Drones Grab the Attention of the Construction Industry
• Drones Step In to Cater to Myriad Needs of Oil & Gas Industry
• Drone Services Potentially Aid Utilities Streamline their Operations
• Insurance Value Chain: The New Avenue for Drone Services
• Farming Sector Likely to Benefit Immensely from Drone Services
• IoT Poised to Widen the Scope & Span of Drone Services
• Safety and Security Issues Associated with Drone Technology Curtail Wider Adoption of Drone Services

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 46

For more information about this report visit https://www.researchandmarkets.com/r/22yi9o

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