Press release
Commercial Drone UAV Market Forecast By Key Players: 3D Robotics, Airobotics, AeroVironment, Airware, Amazon Prime Air, Bae Systems, Cyberhawk Innovations, DroneDeploy, DJI, Ehang, Hoverfly Technologies, Intel Corporation, Parrot, PrecisionHawk, senseFly,
Commercial Drone/Unmanned Aerial Vehicle Market
Commercial Drone UAV Market is projected to grasp USD 17.0 billion by 2024. The increasing application of the drones for the commercial purposes is anticipated to be one of the major factor driving the market growth. Since the advent of commercial UAVs, they have been utilized for video and photography. However, due to the relaxation by regulatory bodies such as U.S. Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) on the use of drones for commercial drones, their adoption among the different industry sectors, such as agriculture, real estate, architecture & construction, delivery and media has increased rapidly.
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Top Key Players: -
The major vendors in the commercial drone UAV market are 3D Robotics, Airobotics, AeroVironment, Airware, Amazon Prime Air, Bae Systems, Cyberhawk Innovations Ltd., DroneDeploy, DJI, Ehang Inc, Hoverfly Technologies, Intel Corporation, Parrot, PrecisionHawk, senseFly, and Yuneec International.
Market share calculation in this report is not done based on companies covered in it. The calculation of commercial drone UAV market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
North America is the dominating region in the commercial drone UAV market owing to the relaxation on the use of UAVs for commercial applications by the FAA. The rising adoption of drones for covering events through aerial photography, filming, and video is also driving the market growth. The existence of large number of players such as 3D Robotics, PrecisionHawk, Aeryon Labs, with the support of government initiatives and policies also support the growth of commercial drone UAV market. For instance, the U.S. government in 2017 introduced a program to drive the testing of commercial UAVs to include night time operations, flights flown over people and flights beyond VLOS. The program will accelerate the adoption of UAVs into the NAS and test UAVs detection and tracking, with reducing few limits on their use.
Asia Pacific is estimated to gain substantial growth during the forecast period owing to the rapid increase in awareness for civilian drone applications and relaxation by government for the use of UAVs for commercial purposes. Furthermore, the presence of substantial number of drone’s manufacturers in the region, especially in China, such as DJI and Xiaomi, is also estimated to be drive the growth of the commercial drone UAV market. The market is also aided by adoption of drones by the customers and enterprises in fields such as agriculture, retail, and construction.
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The increasing venture capital investment in drone technology, affordability and accessibility of the drones, along with the advancement in the design and integrated data intelligence are also contributing towards the growth of the commercial drone UAV market. In addition, strong Chinese market and growing demand for the drones in the commercial applications from the developing countries is fostering the market growth. However, security and privacy issues associated with the use of drone and stringent government regulations on the use of commercial use of drones are hindering the growth of the market.
The technological advancements and innovation in the commercial drone market space is also estimated to drive the revenue. The integration of artificial intelligence and advanced machine learning algorithms has developed several new avenues for utilization of UAVs capabilities.
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