Drones Rental Business Market

Drone Rental Business Market Outlook (2023 to 2033)

The global drone rental business market is valued at US$ 91.9 million in 2023. The market is expected to expand rapidly at a CAGR of 17.8% and reach a valuation of US$ 472.8 million by the end of 2033.

Renting a drone is cost-efficient for individuals as well as businesses. On average, renting a drone cost around US$ 25-75 per day and a maximum of around US$ 100 in certain cities in the United States. Owing to such cost efficiency, the drone renting service market will expand substantially during the forecast period.

Report Attributes	Details
Market Size (2022A)	US$ 78.0 Million
Estimated Market Value (2023E)	US$ 91.9 Million
Forecasted Market Value (2033F)	US$ 472.8 Million
Global Market Growth Rate (2023 to 2033)	~17.8% CAGR
North America Market Share (2022)	~39.0%
East Asia Market Growth Rate (2023 to 2033)	~19.0% CAGR
United States Market Growth Rate (2023 to 2033)	~17.8% CAGR
Key Companies Profiled	Blue Skies Drone Rental; Camera Lens Rentals; Heliguy; Drone Rental Iceland; DroneXperts; Lensrentals; Grover; Bali Drone Production; FriendWithA; D1 Store; Fat Llama; Wedio; Drone Works Ireland; Candrone; CloudVisual; ShareGrid; ECA Group; dronevideographer; RentOclick; Drone-parts-center; Other key players

Growing popularity of drones in various industry vertical

The global drone rental business market is projected to rise at a significant rate within the forecast period due to the rising popularity of drones in different industry verticals. As drones offer various cost & time-efficient benefits to businesses, it has gained substantial demand in various industries. However, the presence of strict regulations regarding the utility of drones and the requirement of certification to fly drones are major factors anticipating consumer interest in drone rental services.

Renting a drone is cost efficient than buying a drone for the small enterprises. Also, high repair & maintenance associated with drones is a major factor escalating consumer interest in drone rental business services worldwide.

• Short Term (2023 to 2026): In the short-term period, the drone rental business market is projected to grow slowly as the drone market is in the developing phase and hasn’t gained excessive utility in various end-use industries.
• Medium Term (2026 to 2029): The rising drone services industry worldwide will escalate the drone rental services in the mid-term. The Unaffordability of customers to purchase a drone will move them to rental services.
• Long Term (2029 to 2033): Drone rental services are gaining popularity from individuals for entertainment & recreational purpose. Drone utility for fun activities and learning purposes by the intermediate will exponentially drive the drone hiring services in the long term.

East Asia is expected to rise with fastest CAGR of 19.0% in the drone rental business market during the forecast period (2023 to 2033).

The image illustrate the expected total addressable market value of US$ 91.88 million in the 2023. During the historic period (2018m to 2022), the market growth rate was 9.3% and projected to rise with a CAGR of 17.8% during the forecast period (2023 to 2033).

What are the factors driving the demand of drone rental business market?

“Cost benefits associated with drone renting over drone owning”

Renting a drone is a cost-effective option for people who are flying it for entertainment and recreational purpose than for commercial reasons. Also, if the customer wants to learn how to fly a drone, prefers drones on rent rather than buying one, and avoid spending big bucks on buying one. Since buying a drone is quite expensive for an individual & small businesses than renting, therefore they prefer drones on rent which helps in sustaining the profitability of their business. Also, drones required various rules & regulations to operate and certification to fly which stimulate small enterprises to switch over to drone rental services. Apart from the high cost of buying a drone, its repair and maintenance are also high. Therefore, drone renting is preferred by buyers to avoid these costs and aftermaths related to its damage.

“Surging drone utility for entertainment & recreational purpose”

Drone renting services are projected to rise at a substantial rate in the forthcoming period due to their increasing utility in entertainment & recreational purpose. It is a cost-effective option for the customer to avoid the excessive cost of buying a drone, as drone requirement completely depends on customization asked by them. People going for tracking, picnics and other fun activities are escalating the demand for drones on rent to capture visuals (photography and videos) of the location.

Drone operation from individuals for personal interest, hobby, and enjoyment has grown drastically these days, and failure to afford new drones will lead to drone renting. Moreover, drone rental services will rise at a significant rate in the forthcoming period owing to the rising fun activities related to drones like drone racing, drone light shows, drone dancing, and others.

Key factors restraining the market growth

“Long run benefits of owning a drone’

Renting a drone is majorly preferred by individuals but drones are gaining substantial popularity in commercial sectors which is creating a challenging scenario for market growth. As in commercial sectors, drones are projected to gain full-time utility in various business operations. Owing to this factor, the consumer base from the commercial sector is projected to own a drone rather than rent it. Also, drone renting is comprised of certain drawbacks drone accessories are only required to be changed with shop owners' consent, limited ownership, hidden changes relevant to drone damages, and others. All these factors will lead the consumer to own a drone rather than ranting about it, therefore hamper the revenue growth of the market.

Country-wise Insights

Why United States is projected to drive drone rental business service demand?

The drone rental service market is mature in the United States. With the most established commercial sector, the United States exhibits substantial utility of drones in various business activities. High costs and failure to purchase new drones will escalate the drone rental business in the region.

The country is witnessing the substantial utility of drones for entertainment & recreational purpose since drones are gaining popularity among youth as a hobby and fun activity. Owing to this reason, drone rental services are highly in demand in the region.

Moreover, drone-relevant services like drone package delivery, last-mile drone delivery services, drone imaging, drone mapping, and others are tremendously high in the region escalating the United States drone rental business services market.

Why Chinese drone rental business market expected to be highly lucrative?

The China drone rental business market is expected to rise with a CAGR of 19.6% in the forthcoming period.

Hiring a drone is comprised of cheaper upfront costs, the flexibility of drone utility, and others. Owing to these benefits, drones are gaining potential demand in different industry verticals in China.

The development of drone-relevant services in the region, like drone delivery, inspection & mapping, spraying & seeding, and others is expected to rise in the region. Government support and initiative by the retail & healthcare sector regarding the use of drones in different industries to enhance business efficiency and profitability is projected to stimulate the drone hiring services in the region. Also, the country is witnessed the presence of various established market players offering drone rental services in the region like DJI and TT Aviation Technology Co. Ltd. is projected to soar the market growth.

Category-wise Insights

Multi-rotor drones to exhibit leading share among drone type

Drone renting services are mostly occupied by beginners to gain proficiency in drone flying. Therefore, multi-rotor drones are gaining popularity for rental purposes, as it is a beginner-friendly drones. It could be operated & controlled with a simple joystick & efficiently demanded entertainment & recreational purpose.

Multi-rotor drones are lesser prone to damage, scratch and other losses than fixed wings due to their easy take-off and landing technology, they could perform vertical take-offs as well as landing. Moreover, multi-rotor drones are cheaper in value than fixed wings, therefore, it is a cost-efficient option to invest for new market players in the drone rental business market.

Commercial sector to hold leading share in drone rental services market

Compare to individuals, the commercial sector holds tremendous utility of drones worldwide. Site inspection, mapping & surveying, photography & filming, package delivery, and others are key services escalating the demand for a drone in the commercial sector. Small & mid-size organizations are efficiently opting for drone hiring services to eliminate the excessive cost of owning a drone rather than hiring one. As it helps, these organizations to sustain their profitability and operation cost.

With the lack of expertise in drone operation, customers from the commercial sector opt for drone rental service providers who also offer a skilled pilot to operate a drone. This will efficiently benefit customers in securing any loss that occurs while using a drone. Lower liability on drone damage with rental services will prominently escalate the market growth in the forthcoming period.

Competitive Landscape

Key market participants in the drone rental business market are Blue Skies, Drone Rental, Camera Lens Rentals, Heliguy, Drone Rental Iceland, DroneXperts, Lensrentals, Grover, Bali Drone Production, FriendWithA, D1 Store, Fat Llama, Wedio, Drone Works Ireland, Candrone, CloudVisual, ShareGrid, ECA Group, dronevideographer, RentOclick, and Drone-parts-center.

The drone rental business is projected to gain significant growth in the forthcoming period with favorable initiatives by market players in the industry like a partnership and merger & acquisition. For instance,

• In October 2022, Lucid Drone Technologies, based in Charlotte, California partnered with Sunbelt Rentals to provide industrial spray drones for rent nationwide. The partnership among businesses will help the company to expand its service offering in commercial sectors.

Fact.MR has provided detailed information about the provider of drone rental business market positioned across regions, revenue growth, and service offering expansion, in the recently published report.

Segmentation of the Drone Rental Business Market

• By Drone Type :

  • Multi-Rotor
  • Fixed Wing

• By Customer Type:

  • Residential
  • Commercial

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa