Global civilian drone market to reach USD 14.3 billion by 2029

The study expects to see a tripling of the current market volume

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The global civilian drone market—which is currently dominated by Chinese companies like DJI—is forecast to triple in size by 2029, according to a recent study by research firm Teal Group.

Civilian drones include commercial, consumer and civil government systems.

The study found that market volume would grow from USD 4.9 billion in 2019 to USD 14.3 billion in 2028, benefitting from the easing restriction by the Federal Aviation Administration and increasing commercial usage.

Despite the optimistic forecast, Chinese drone makers, who currently account for more than 70% of the world’s consumer drones, are facing potential setbacks due to increasing security concerns from the United States, the world’s largest drone market.

Earlier this year, the US government reportedly sent out a memo warning of security concerns in drones made by Chinese manufacturers. China’s biggest drone maker DJI then announced plans to set up manufacturing facilities in California to assemble its popular Mavic Enterprise Dual.