Drone Service Market Size, Share, Trends, Dynamics, Forecast, and Growth Analysis

The drone service market was estimated at USD 16.88 billion in 2022 and is likely to grow at a CAGR of 22.49% during 2023-2028 to reach USD 57.02 billion in 2028.

Market Dynamics:
The global drone service market is expected to grow significantly owing to several reasons. A few of them are mentioned below –
Rising demand from various end-user industries – Drones are being used to survey construction sites, agricultural fields, oil and gas industries, healthcare, and other industries too.
Studies found that using drones resulted in 5x to 20x cost savings, and 55% increased safety in construction fields. Drones are also used by farmers to monitor crop health, sprinkle pesticides, etc. This growing demand from every sector is likely to boost the demand for the global drone services market.
Increasing government initiatives supporting drone technologies – Governments across the globe are increasingly showing interest in opting for drone regulation and applications.
For instance, the Indian government promotes the usage of drones via several initiative programs such as – the Drone Shakti Initiative – which aims to promote the use of drones as a service through startups. The government also has banned the import of drones to promote local drone manufacturing.