Commercial Drones Market to top $10,738 Million by 2022 - Remarkable Growth Recorded | Analysis of Leading Industry Players Such as AeroVironment,SZ DJI Technology,Parrot SA, 3D Robotics, PrecisionHawk, Yuneec International, Aeryon Labs, Trimble Navigatio

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. Allied Market Research, projects that the global market was valued at $2,145 million in 2015, and is projected to reach $10,738 million by 2022, growing at a CAGR of 26.2% from 2016 to 2022.

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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.

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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.

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.

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