Drone Market Update: Industry Valued at £42 billion in new PwC report

Accountancy giants PwC have today released a report stating that the drone industry is expected to offer a £42 billion uplift to the UK economy by the year 2030.

It is expected there will be more than 72,000 drones in the sky by the end of the next decade. The biggest area expected to be boosted is the wholesale and retail sector. Other areas such as education, defence and health are also expected to benefit.

Drones are expected to offer a £7.7bn uplift to the wholesale, retail and trade sector. The public sector is also expected to receive a £11.4bn uplift to its economy.

What does the rise in UAVs offer the economy?

Businesses are continually expected to break boundaries and be more innovative, drones are a perfect way of doing just that. Not only do they efficiently gather data, they can also reach places that we simply can’t reach. This allows you to manage costs, control risks, increase safety and influence outcomes.

Drones also offer incredible cost-saving efficiency over the long term. In the short term they are an investment, but as time goes on the money saved can make a massive difference. According to PwC, this will see a huge boost in the UK economy as it will improve one of the country’s biggest issues, productivity. Cost reductions from the use of drones, and will feed an increase of 3.2% in productivity across the UK economy.

The impact on jobs, in the long term, will also be substantial. Over time, due to the gains of cost saving, productivity and consumer demand, therefore naturally, more jobs will be created.

Of the 76,000 drones that are projected to take to the skies by 2030, over a third will be used by the public sector (defence, health and education). This contributes to creating a safer United Kingdom.

Gross and net cost savings by sector:
  • UK Wide: Gross: £17bn, Net: £16bn
  • Technology, Media and Communications – Gross: £4.9bn, Net: £4.8bn
  • Financial, Insurance, Professional and Administrative Services: Gross: £4.1bn, Net: £4.1bn
  • Construction and Manufacturing: Gross: £3.5bn, Net: £3.5bn
  • Transport and Logistics: Gross: £2.8bn, Net: £2.8bn
  • Public and Defence, Health, Education and Other Services: Gross: £1.3bn, Net: £1.1bn
  • Agriculture, Mining, Gas and Electricity: Gross: £0.2bn, Net: £0.1bn
Multi-factor productivity impact by 2030:
  • UK Wide: 3.2%
  • Technology, Media and Communications: 12.4%
  • Financial, Insurance, Professional and Administrative Services: 2.8%
  • Construction and Manufacturing: 3.1%
  • Transport and Logistics: 8.4%
  • Public and Defence, Health, Education and Other Services: 0.4%
  • Agriculture, Mining, Gas and Electricity: 0.4%
Estimated number of drones in UK skies by 2030, by sector:
  • UK Wide: 76,233
  • Technology, Media and Communications: 27,521
  • Financial, Insurance, Professional and Administrative Services: 25,732
  • Construction and Manufacturing: 11,008
  • Transport and Logistics: 4816
  • Public and Defence, Health, Education and Other Services: 4541
  • Agriculture, Mining, Gas and Electricity: 2514

Drone Survey Camera

Managing Director of COPTRZ Steve Coulson stated:

“It’s quite easy to see why drones are helping boost the economy of so many different sectors of business. I think most forward-thinking businesses are starting to see the benefit that drones offer. They are time and cost saving, and the data that they can collect is absolutely priceless. Drones will spark significant improvements in the UK economy, and they are quite simply the future.”

Getting Started With Drones

If you’re looking to get started with your drone strategy, COPTRZ can help. To date, COPTRZ has helped over 1000 businesses to access the benefits of drone technology, providing cheaper, faster and safer operational capability.

By providing you with a complete solution, through best-in-world drones (also known as UAVs), payloadssoftwaretraining and consultancy to deliver the best possible drone strategy for your organisation.

Contact the COPTRZ team today on 0330 111 7177 or email info@coptrz.com to get started with your drone strategy.

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