The drone market has experienced dynamic technological advancements over the last few decades. These advancements have led to the improvement in the autonomy of drones, operating ranges, capabilities, and payload sizes, and have also paved the way for various growth opportunities. The capabilities of cellular networks are expected to enhance the safety of drones for consumers, commercial applications, and government applications. The introduction of cellular network connectivity in the cellular-connected drone market has rapidly transformed the communication process between the operator and the drone. The drones are a popular option for applications such as inspections, surveillance, monitoring, and logistics, such as last-mile deliveries of parcels and medicines for remote or rural areas with less population density. Some of the stakeholders such as drone manufacturers (Ehang, Terra Drones, and DJI, among others), cellular network providers, (Verizon, AT&T Inc., and Vodafone Group, among others), and telecom equipment providers (Ericsson, Nokia, and Qualcomm, among others) are testing and developing their drones, mobile networks, and chipsets for the cellular-connected drone market, respectively.
Read Report Overview: Cellular-Connected Drone Market
Factors Affecting the Global Cellular-Connected Drone Market
The global cellular-connected drone market is expected to witness a high growth rate during the forecast period 2023–2030. The growth is attributed to the growing usage of drones for inspection, surveying, transport and logistics, and agricultural spraying, among others. Some of the drones provide surveillance and monitoring services to homeland security and law enforcement applications also.
The rising need for unmanned traffic management, adoption, and developments related to 5G network, and real-time data transmission are driving the market and are expected to create viable opportunities for the cellular-connected drone market.
Global Cellular-Connected Drone Market Size
In terms of value, the global cellular-connected drone market is expected to value at $592.1 million in 2023 and is expected to reach $1,428.7 million in 2030, at a CAGR 13.57% during the forecast period 2023–2030.
Opportunity for Component Manufacturers and Suppliers to Grow in the Forecast Period
The global cellular-connected drone market consists of components such as camera, sensor, navigation system, communication system, and control system. Cameras, communication systems, and sensors are the three vital components of global cellular-connected drones. The growing demand for the cellular-connected drone is expected to create an opportunity for component providers of drones in this ecosystem.
Asia-Pacific to be at the Forefront in the Cellular-Connected Drone Market
The cellular-connected drone market has witnessed various forms of market dynamics across different regions of the globe over the years. Also, the drone manufacturing companies have recently witnessed a rising demand from countries such as the U.S., Australia, China, Singapore, Japan, South Korea, Germany, France, and the Netherlands, among others. The following figure represents the global market by region. It includes North America, Europe, Asia-Pacific, and Rest-of-the-World.
The cellular-connected drone market is presently one of the most competitive markets for drones, with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the cellular-connected drone exhibits an inclination toward emerging strategies and developments by market players.
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The key players that are actively participating in the cellular-connected drone market include drone manufacturers, drone service providers, cellular network companies, and chipset manufacturers (telecom equipment). Some of the active companies as per their strategies and developments are Airbus S.A.S, Terra Drones, Ehang, XAG Drones, Dronebase, Vodafone Group Plc, Verizon Communications Inc., AT&T Inc., T-Mobile, Telefonica, Telefonaktiebolaget LM Ericsson, Cisco Systems Inc., Nokia, Huawei Technologies Co., Ltd, Intel Corporation, Qualcomm Technologies, Inc., and MediaTek Inc., among others.