Drones Market to Gauge its Current and Future Potential

Drones are revolutionizing many industries owing to their unique aerial view, which assist in making 3D maps, high-quality photographs & videos, live streaming, infrastructure development survey and surveillance & security management. This unique aerial view is used in military, media & entertainment, real estate, agriculture, and government, thus driving the growth of the market. Technological advancements in drones may give companies unparalleled benefits. For instance, drones integration with the Internet of Things is expected to showcase new business opportunity in the forthcoming years. Due to which, the industry is anticipated to grow in coming years.

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The global drones market has been segmented by different types, applications, vertical and geography. The segments have been further divided into sub-divisions like type segment includes multicolor, fixed wing, single rotor helicopter and fixed wing hybrid. The sub-divisions of application segment includes search & security, surveying & mapping, aerial photography & video and carriers. On the basis of vertical global drones market is sub divided as logistics & supply chain, agriculture, real estate & construction, media & construction and military& government. Finally, geographical segmentation covers key regions involved in the market like North America, Europe, Asia Pacific, Central & South America and Middle East & Africa.

Rising number of drones for commercial purposes may eventually upturn the air traffic, owing to which aviation department of U.S. and India have led down strict rules with regards to its weight caring capacity with respect to altitude of drones. Major players in global drones market include Parrot Drones SAS, Aeryon Labs Inc., 3D Robotics, Inc, Drones Deploy, Dragonfly Innovations Inc. and others. Mergers and acquisition will be a strategy adopted by the players to maximize the global drone market share. For instance, Parrot Drones SAS acquired few companies, such as sense Fly SA, MicaSense, and Pix4D. Growing drones market has attracted new players to enter in the global drones industry. For instance, in October 2017, Boeing, an aircraft manufacture company acquired Aurora Flight Sciences, the acquisition aims to develop drones with carrying capacity of up to 200 kilos.

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Drone is a term used to describe unmanned aerial vehicles (UAV) or an aircraft without a pilot in space. The Drones is made up of light weight material, which helps in reducing its weight. The drone’s controller is made up of electronic chipset and sensors. The drones and the controller are connected to each other through a Global Positioning System (GPS). Earlier, drones were restricted only to military applications such as surveillance but, owing to its increasing application it is now widely adopted by other sectors for instance, Amazon.com, Inc., an e-commerce company used drones to deliver products improving their delivery operations.

Drones assist in providing the last mile delivery to the end-user in an optimized way. Owing to which, the drones are widely adopted in logistics application. Apart from providing optimization, these drones also assist in reducing cost, which is another key parameter driving the growth of drones market in logistics & supply chain industry. For instance UPS, a courier service company is using drones to deliver the package in residential areas.

Being hustle free, drones are making on time deliveries of life saving medications. Due to which drones are now being deployed in healthcare industry as well, thus driving the growth of the drones market in healthcare industry. For instance, Zipline Medical, Inc. a U.S. based company, is using drones to make deliveries of life-saving medications.

Challenges:

Flight time along with weight carrying capacity are two restraints hampering the growth of the global drones industry. To deal with this, Griff Aviation, a player in commercial drones market is developing a drones fleet which can carry up to 100kgs of load over the duration of 30 minutes and similarly many players are working on improving efficiency of drone

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