Commercial Drones Market projected to reach $10,738 Million by 2022 - Leading Industry Players such as AeroVironment,SZ DJI Technology,Parrot SA, 3D Robotics, PrecisionHawk, Yuneec International, Aeryon Labs, Trimble Navigatio

The growing adoption of smartphones, rising demand for aerial services, and increased demand for drone services from various sectors would supplement the growth of the commercial drone market. Leading players are aiming to explore new technologies and applications to meet the growing demands of customers. Collaborations and acquisitions would enable them to enhance their product portfolios and expand into different geographies. Emerging economies would provide an opportunity for growth and expansion. Vendors are developing specialized solutions for small and medium-sized businesses to meet their specific business requirements.

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Stringent government regulations regarding national security and satellite imagery as a substitute option are expected to hamper the commercial drone market growth. Another possible restraint is the increasing adoption of satellite imagery that can limit the growth of the commercial drone market.
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.

Segment Overview:

The report covers the study of the commercial drones market, focusing on three types of products including fixed wing drones, rotary drones, and hybrid drones. The commercial drones market is divided into six major sectors according to their application, which include agriculture & environment, media & entertainment, energy, government, construction & archaeology, and others.

The report also covers key trends and opportunities of drone products across various geographical regions including North America (U.S., Canada, Mexico), Europe (UK, France, Germany, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa). The drivers, restraints, and opportunities present in the market are explained in the report along with the analysis of their impact. The report describes key strategies adopted by market leaders to facilitate effective planning for the growth and development of the commercial drone market.

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The global commercial drones market is anticipated to witness significant growth in the Asia-Pacific and LAMEA regions, on account of their burgeoning demand in emerging countries such as India, China, Brazil, and Japan. The commercial drone market is projected to grow at a CAGR of 26.2% from 2016 to 2022, owing to the increase in demand for application-specific drones in the developed and the developing regions.

Commercial drones have gained increased adoption in the agriculture & environment, construction & archaeology, and government sectors over the past few years. Commercial drone market growth is supplemented by increased applications across various sectors such as green netting, estimation of crop health, estimation of soil productivity and chemically affected areas, GIS (geographic information system) services, conservation of forests, water resource management in agriculture & forestry, and others.

Commercial drones equipped with advanced cameras and sensors have applications in various sectors to improve productivity and efficiency of businesses. However, the presence of stringent government regulatory framework hampers the commercial drones market growth.

India is the most lucrative market in the Asia-Pacific region, and is anticipated to grow at a significant CAGR during the forecast period. This is attributed to the increase in their demand in the construction and agricultural sectors and growing adoption of advanced technology to develop application-specific drones.

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The key players operating in the commercial drone market have focused on introducing new features and capabilities to their existing product portfolio. This is anticipated to increase product penetration and enable key providers to establish themselves in emerging markets. In November 2015, SZ DJI Technology Co. launched an octocopter, DJI Agras MG-1, an agricultural drone equipped with advanced sensors. In September 2016, Parrot SA launched Disco, a fixed wing drone.

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