Global Drone Market , Trends, Analysis, Opportunities, Share and Forecast – 2019-2025
E-commerce and retail industry is working on using drones in order to deliver the product to the customers in a minimum time boosting the market growth. Projects are held back by government bodies in order to ensure public safety. Drones are widely used in the agriculture sector to produce a higher yield and for regular crop monitoring. Key market players are making huge investments in R&D activities to develop solar-powered drones for agricultural applications. This will further boost the demand for drones in the agricultural sector. Government regulations regarding the violation of privacy policies are considered to be the major restraint in the global drone market.
The drones market is anticipated to register a CAGR of over 15% during the forecast period.
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Other applications segment of the market is expected to register the highest CAGR during 2018-2025. The growth in e-commerce has led to the product delivery and courier service giants, like Amazon and DHL, to introduce delivery of products by drones. These companies have significantly invested and made collaborations with smaller firms for implementing drones in the delivery of goods and services. Additionally, the companies are also investing in the development of drones for deliveries of vaccines, medications, and supplies to rural areas and hospitals. Such investments may generate demand for this segment of the market during the forecast.
North America is anticipated to be dominant globally in the drone market owing to the increasing production and wide application of drones in the commercial sector. Europe is estimated to be the most attractive market in terms of profit for 2018-2025. In Canada, drones are mainly used for atmospheric monitoring including atmospheric gas sampling and oceanographic research.
Prominent competitors in the drone industry are as follows: Gathering, Sensefly, Deltadrones, Titan aerospace, Infotron, Ascending Technologies, Aerial MBO, RedBird, Flying Eye, InterDrone, among others.
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