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Commercial Drones Market Trends Estimates High Growth by 2023 - An In- Depth Growth Analysis 2018-2025
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The report includes the study of global commercial drone market with respect to three types of products including fixed-wing drones, rotary blade drones, and hybrid drones.
The commercial drone market growth is driven by factors such as technological innovation in cameras & sensors and upsurge in application areas of drones. However, factors such as stringent government regulations regarding security & privacy and use of satellite imagery as a substitute to these drones are anticipated to hamper the commercial drone market growth during the forecast period. Increased application areas for commercial drones among various industry verticals and increased market for smartphones is expected to create lucrative opportunities for the commercial drone industry.
Dominating Market Players Profiled in the Report:
•AeroVironment, Inc.
•SZ DJI Technology Co., Ltd.
•Parrot SA
•3D Robotics, Inc.
•Leptron Unmanned Aircraft Systems, Inc.
•PrecisionHawk Inc.
•Yuneec International Co. Ltd.
•Aeryon Labs Inc.
•Trimble Navigation Ltd.
•Insitu Inc.
In 2014, the rotary blade segment dominated the global commercial drone market with around 71% share. This is attributed to evolution in imaging and sensory capabilities and development of smart cameras and new interfaces. Furthermore, the hybrid drones segment is projected to witness the highest CAGR of 29.6% during the forecast period, as hybrid drones possess the capabilities of both rotary and fixed wing drones.
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In 2014, the agriculture & environment segment dominated the global market with around 28% share, followed by construction & archaeology. Furthermore, the construction & archaeology segment is projected to grow at the highest CAGR of 29.4% from 2016 to 2022, owing to increase in the need for surveillance of sites, map building, monitoring, project estimation, detailed topographic models, 3D modeling, and reconstruction services.
The commercial drones market is categorized into four regions, namely North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor to the global market in 2014, accounting for around 39% share. The Asia-Pacific commercial drones market is projected to grow at the highest CAGR of 29.6% during the forecast period on account of the growing market for the media and entertainment industry, precision agriculture, construction sector, and others in countries such as India, China, Japan, and Australia.
Key Findings of the Commercial Drones Market:
•The rotary blade segment dominated the global commercial drones market in 2014.
•The hybrid drones segment is expected to grow at the highest CAGR of 28.3% from 2016 to 2022.
•The construction & archeology segment is anticipated to present significant growth opportunities for key players operating in the global market.
•North America dominated the global market in terms of market size, while Asia-Pacific is estimated to grow at a significant growth rate during the forecast period.
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Heavy investment in R&D activities related to drone technology has fueled the use of innovative tools for the development of commercial drones. In addition, increase in demand for GIS (geographic information system), LiDAR (Light Detection and Ranging), aerial & mapping services across various industries is expected to boost the adoption of commercial drones. In addition, increased demand for aerial imaging market in developing economies and rapid penetration of high definition cameras present lucrative opportunities to the commercial drone market.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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