Top Companies in the Drone Services Market Boost Revenue

/EIN News/ -- Chicago, July 04, 2024 (GLOBE NEWSWIRE) -- Projections indicate that the drone services market is poised to grow from USD 17.0 billion in 2023 to USD 57.8 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 27.7% during this period. In 2023, North America is anticipated to hold the largest share of the drone services market.

The drone services sector is an emerging market that offers services for remotely controlled or autonomously flown drones by incorporating software-controlled flight plans into their embedded systems. These commercial drone services support various industries, including agriculture, insurance, construction, marine, aviation, oil & gas, mining, and infrastructure. They perform a wide range of tasks such as search and rescue, package delivery, industrial inspection, imagery capture, fertilizer spraying, healthcare supply distribution to remote areas, and broadcasting shows.

The drone services market can be categorized based on the type of service provided into platform services (which encompass flight piloting & operation, data analysis, and data processing), MRO (Maintenance, Repair, and Operations), and simulation & training. In terms of application, it is segmented into inspection & monitoring, mapping & surveying, spraying & seeding, filming & photography, transport & delivery, and security, search, and rescue. Industries that utilize drone services span construction & infrastructure, agriculture, utilities, oil & gas, mining, defense & law enforcement, media & entertainment, scientific research, insurance, aviation, marine, healthcare & social assistance, and transportation, logistics, & warehousing.

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Major Drone Services Companies Include:

• Terra Drone Corporation (Japan)
• PrecisionHawk (US)
• Aerodyne Group (Malaysia)
• Sky-Futures Ltd. (UK)
• Cyberhawk Ltd. (UK)
• DroneDeploy Inc. (US)

Key strategies employed by prominent market players to strengthen their position in the drone services market include agreements, collaborations, new product development, contracts, expansion, acquisitions, and partnerships. For instance, in June 2021, Aerodyne Group announced a collaboration to provide global Drone-as-a-Service (DaaS) and Software-as-a-Service (SaaS) solutions in the Italian asset inspection and agriculture sectors.

The prominent companies are:

TERRA DRONE CORPORATIO

Founded in 2016 and based in Tokyo, Japan, Terra Drone Corporation is a commercial drone service provider operating worldwide. The company is privately held and employed more than 250 employees worldwide in 2018. The company offers a wide range of drone services, such as aerial photography and remote sensing, drone inspection, aerial mapping & surveying, 3D modeling and drone data collection and analytics. Terra Drone Corporation serves customers from various industries including agriculture, utility & power, infrastructure, public safety, and mining. The company also offers software for planning, supervision, and management of drone flights. Terra Drone Corporation has offices in Asia Pacific, Europe, Africa, North America, and Latin America. As of February 2021, Terra Drone Corporation, the world’s leading drone solution provider, declared the closing of a JPY 1.5 billion (USD 14.4 million) Series A round funding.

PRECISIONHAWK

PrecisionHawk manufactures and develops drones, software, and related safety solutions that find applications in the agriculture, utility, oil & gas, insurance, construction, and government verticals. The company provides a complete range of advanced drone technology platforms that help in flight mapping, tracking, and analysis. PrecisionHawk’s Unmanned Aerial Intelligence Technology Center of Excellence (UAS COE) was set up to help gather aerial intelligence for governmental agencies such as the US Department of Defense and North Carolina State Department of Transportation (US). The company is a member of the US Federal Aviation Administration Pathfinder Initiative and the NASA UTM Program. As of August 2020, PrecisionHawk revealed that it has conferred two patents for technologies developed by it for its unmanned aircraft system traffic management (UTM).

AERODYNE GROUP

Aerodyne Group is a world-renowned provider of drone-based enterprise solutions, and a forerunner in the usage of AI in the form of enabling technology for large-scale data capture and analytics. Aerodyne work on an exceptional level in the UAV services sector. Till now they have accomplished over 48,000 flight operations, inspected more than 201,000 properties, and surveyed in surplus of 38,000km of power infrastructure. Aerodyne, have a full-time staff of over 260 comprising pilots, engineers, software developers and industry experts. They have offices in 20 countries around the globe, with plans to continue their growth into a range of territories and verticals during 2018 and beyond. In June 2021, Aerodyne Group publicized a collaboration to deliver global Drone-as-a-Service (Daas) and Software-as-a-Service (SaaS) solutions in the Italian asset inspection market for infrastructure maintenance and the agriculture (service offerings) sector.

Sky Future Ltd.

Sky Future Ltd is a forward-thinking technology company specializing in advanced aerial solutions. Established in [Year], the company has consistently demonstrated its commitment to innovation and excellence in the field of unmanned aerial vehicles (UAVs) and aerial data services.The company's core strengths lie in the design, development, and deployment of cutting-edge drones for a diverse range of industries, including agriculture, construction, infrastructure inspection, and environmental monitoring. Sky Future Ltd's UAVs are known for their reliability, precision, and adaptability, making them a trusted choice for businesses seeking efficient data collection and aerial imaging solutions..

CYBERHAWK LTD.

Cyberhawk Ltd. was founded in 2008 and is headquartered in Livingston, UK. The company had an employee base of more than 100 people in 2018. Cyberhawk Ltd. provides industrial inspection and land surveying services for both onshore and offshore platforms in the oil & gas industry. The industrial inspection services offered by the company include inspection of infrastructure, live flare, chimney, and wind turbines. It also provides services such as flood risk surveys, environmental impact assessments, construction progress photography, line of sight surveys, site surveys, route analyses, landfill surveys, storm damage analyses, ecological surveys, forestry management surveys, and 3D modeling. Cyberhawk Ltd. is a leading company offering remote aerial inspection and surveying. It provides data through software named iHawk using Geographic Information System (GIS) that captures, stores, analyzes, and integrates data, which is presented systematically for a user-friendly experience. In June 2020, Cyberhawk Ltd. announced that it has acquired a 5-year, multimillion-dollar software contract with Royal Dutch Shell PLC (Shell).

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