Meticulous Research®, a leading global market research firm, has published a new report titled "Commercial Drones Market by Type (Single-rotor, Multi-rotor, Fixed-wing, Fixed-wing Hybrid VTOL), Payload (Up to 2kg, 2kg to 10kg, 10kg to 25kg, More than 25kg), Application, End-use Industry, and Geography - Global Forecast to 2031." This report forecasts that the commercial drones market will reach $9.8 billion by 2031, expanding at a compound annual growth rate (CAGR) of 17.2% from 2024 to 2031.

Market Drivers and Opportunities
The market's growth is driven by the increasing use of commercial drones for high-quality imaging and video capture, advancements in Artificial Intelligence (AI) and Machine Learning (ML), and a rising demand for on-demand delivery services. However, market expansion is constrained by issues such as limited battery life, flight duration, and a shortage of skilled personnel to operate and maintain drones.

The growing demand for Beyond Visual Line of Sight (BVLOS) drones among enterprises is expected to create significant growth opportunities. Conversely, ambiguous regulatory frameworks for drone adoption and operation remain a major challenge for the market.

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Market Segmentation:
• Type: The market is categorized into single-rotor, multi-rotor, fixed-wing, and fixed-wing hybrid VTOL drones. The multi-rotor segment is projected to hold the largest share in 2024 due to its superior maneuverability, affordability, control, and efficiency.

• Payload: Segmented into up to 2kg, 2kg to 10kg, 10kg to 25kg, and more than 25kg. The up to 2kg payload segment is expected to dominate in 2024, driven by its portability, lower regulatory compliance, cost-effectiveness, and quick deployment.

• Application: Includes inspection, monitoring & management, surveying & aerial mapping, construction, photography & videography, last-mile deliveries, and other applications. The photography & videography segment is projected to lead in 2024 due to its ability to deliver high-quality, dynamic visual content.

• End-use Industry: Covers telecommunications, utilities, oil & gas, transportation, real estate & construction, agriculture, media & entertainment, government, mining, retail & e-commerce, healthcare, logistics, food & beverage, and other sectors. The media & entertainment sector is expected to be the largest in 2024, thanks to drones' cost-effectiveness and ability to provide dynamic aerial footage.

• Geography: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is anticipated to hold the largest share in 2024 due to its high adoption of drones for delivery applications, supportive policies, and increased use among U.S. businesses.

Quick Buy – Commercial Drones Market - Global Opportunity Analysis and Industry Forecast (2024-2031), Research Report: https://www.meticulousresearch.com/Checkout/50307363

Key Players:
Notable companies in the commercial drones market include 3D Robotics, Inc. (U.S.), Aeronavics Ltd. (New Zealand), AeroVironment Inc. (U.S.), Autel Robotics (China), Wing Aviation LLC (U.S.), Guangzhou EHang Intelligent Technology Co. Ltd (China), Red Cat Holdings (Puerto Rico), AgEagle Aerial Systems Inc. (U.S.), Parrot Drone SAS (France), PrecisionHawk, Inc. (U.S.), Skydio, Inc. (U.S.), ideaForge Technology Ltd. (India), Garuda Aerospace Pvt. Ltd. (India), DELAIR SAS (France), and SZ DJI Technology Co., Ltd. (China).

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