Global Construction Drone Market is valued approximately USD 6.39 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 15.4% over the forecast period 2022-2029. Construction Drone is an Unmanned Arial Vehicle (UAV) utilized in construction industry surveying and inspection of construction sites. Construction drones are equipped with downward facing cameras, and sensors. These drones are widely used in inspection of buildings, bridges, roadways, railroads, roofs, cell towers, cooling towers and oil and gas infrastructure. The rising expansion of expansion of global Construction Sector and growing advancements in UAV technology as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Oxford Economics' Future of Construction report- during 2020, the global construction output was estimated at USD 10.7 trillion, and the market is projected to grow roughly by 42% or USD 4.5 trillion between 2020 and 2030 to reach USD 15.2 trillion by end of 2030. Also, rising advancements in Construction Sector coupled with increasing industrialization in emerging markets would create lucrative growth prospectus for the market over the forecast period. However, the high cost of Construction Drone stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Construction Drone Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to increasing utilization of construction drones in construction as well as presence of leading market players in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rapid expansion of commercial construction sector as well as increasing penetration of leading market players in the Asia Pacific region.
Major market players included in this report are:
3D Robotics Inc.
FLIR Systems Inc.
Leptron Unmanned Aircraft Systems, Inc.
Yuneec International Co. Ltd
Recent Developments in the Market:
In December 2021, Komatsu under its Smart Construction solutions launched a smart construction drone tool. This new drone can take still photos from up to 400 feet height and can also be used for pre-job verification.
In March 2022, Tokyo based drone startup Terra Drone closed a USD 70 million series B funding led by Mitsubishi Corporation and other investors who were part of the funding were SBI Investment, Tokyu Land Corporation, Kushu Electric Power, Seika Corporation, JOIN (Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development) and exiting investor Venture Lab Investment.
Global Construction Drone Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Security & Surveillance
By End User
Rest of the World