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Global Commercial Drone Market, Trends, Analysis, Opportunities, Share and Forecast – 2019-2025

01-20-2020 01:51 PM CET | IT, New Media & Software

Press release from: Digitsnmarkets

Commercial Drone Market

Commercial Drone Market

Unmanned Aerial Vehicles (UAVs) are finding increasing applications across the entertainment, agriculture, and energy sectors, which is ultimately expected to impact market growth. One of the key factors driving their demand in commercial sectors is the fact that UAVs have the ability to perform hazardous tasks, such as inspecting utility pipelines, with higher precision and cost-effectiveness as compared to the conventional methods. Newer drone-supportive regulations by government bodies worldwide are expected to lower the entry barriers for new startups and innovators providing commercial operations of UAVs. Leading technology giants have demonstrated the utilization of UAVs in delivering goods from the warehouse to the customer stimulating its market. The introduction of commercial drone delivery services is expected to foster various innovative forms of cargo transportation capabilities such as transport of temperature-sensitive commodities and emergency medicines.

Global commercial drone market size is valued at USD 5.80 billion, with an estimated 274.6 thousand units sold, in 2018 at a CAGR of 56.5% during the forecast period.

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Delivery and logistics are anticipated to emerge as the fastest-growing segment over the next few years. This can be attributed to the fact that UAVs offer relatively cheaper and quicker delivery of goods from warehouses to customers as compared to the conventional delivery methods. Such ease in transportation is boosting this market in its demand. The use of drones in this sector is expected to increase the online retail sales as fast, and free shipping drives customers to shop online.
Increasing demand for the development of advanced farming techniques is expected to drive the commercial drones market in the agriculture segment over the forecast period. Growing awareness regarding the implementation and benefits of these devices in several agricultural activities among farmers is poised to support the growth of the end-use segment.

Asia Pacific is expected to witness the fastest CAGR over the next six years. Countries such as China and Japan are increasingly adopting automation and advanced technologies across a wide range of industries to counter the rising labor costs contributing to the demand of the commercial drone market. The higher efficiency of UAVs as compared to manual labor for certain tasks, particularly in the agricultural sector, is expected to drive their adoption across the region. The sales of drones in Europe is steadily rising due to several favorable regulations. Thus, companies operating in the regional market are exploring new ways to transform their conventional business processes by leveraging the benefits offered by drones.

Prominent players in commercial drone market are 3D Robotics, AeroVironment Inc., Airobotics, Airware, Amazon Prime Air, Bae Systems, Cyberhawk Innovations Ltd., DJI, DroneDeploy, Ehang Inc., Hoverfly Technologies, Intel Corporation, Kespry, Parrot SA, Pricisionhawk, senseFly, Walkera Technology Co. Ltd., Xaircraft, Xiaomi Inc., Yuneec International.

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Digits N Markets has a vast repository of latest market research on trending topics, niche company profiles, market size and other relevant data released by renowned publishers. We have access to the database related to niche markets and trending topics in various industries. We also update the data regularly to provide recent statistics to the client. Recent data and reports will be featured on our websites and clients will be able to access the same. Our clients will be able to benefit from qualitative & quantitative insights in the report which will support them in taking concrete business decisions.

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