In 2023, the market for drone surveying is projected to be worth US$ 1380.4 million. The market is projected to expand at a CAGR of 19.3% over the course of the forecast period, reaching a value of US$8061.5″ by the end of 2033.
Technology is revolutionising the drone surveying sector. Drones now are faster, have greater image quality, and a longer battery life than they were three to five years ago. Amidst escalating demand in a variety of sectors, including energy, infrastructure development, mining, agriculture, real estate, and transportation, among others, the drone surveying industry is expanding quickly.
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The industry is saturated with new competitors entering several market categories, including hardware, software, and services for drones. Investment firms have a great deal of interest in the sector, and drone businesses have received significant funding in recent years. It is anticipated that the market would continue to experience growing double-digit demand during the projection period of 2023-2033 due to the increasing usage of drones in various end-use sectors.
Key Takeaways from Market Study
- The global drone surveying market is expected to grow at a CAGR of 19.3% over the next 10 years.
- East Asia is to witness the fastest growth of CAGR 23.2% during the forecast period.
- US drone surveying market is estimated to reach a valuation of US$ 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.
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.
- Aerial drone solution
- Aerial Robotix
- Aerial Vision Ltd
- AerialWorks Inc.
- AERIUM Analytics
- Aero Enterprises
- Aeroview Services
- Aivia Group
- Astral Aerial Solutions
- Avian UAS
- DATA PKT Aviation
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.
Segmentation of the Drone Surveying Market
- By Survey Type:
- Land Survey
- Property Survey
- Rail Survey
- Infrastructure Survey
- By End-Use Industry:
- Transportation & Warehouse
- Mining, Oil & Gas Extraction
- Public Administration
- Real Estate & Industrial Plant
- By Region:
- North America
- Latin America
- 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
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the drone surveying market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of survey type (Land Survey, Property Survey, Rail Survey, Infrastructure Survey), end-use industry (Energy, Construction, Transportation & Warehouse, Agriculture, Mining, Oil & Gas Extraction, Public Administration, Real Estate & Industrial Plant), across major regions of the world