Commercial Drone Market - How to Leverage on Automotive Industry During COVID-19 Crisis?

Nowadays, the demand for commercial UAVs is upsurging. It is resulting in the persistent creation of technologically advanced drones. Several prominent manufacturers are also investing huge sums in research and development activities to launch unique products. As per one of our lead analysts, "Industry giants, such as AeroVironment, 3D Robotics, and DJI are accelerating the commercial unmanned aerial vehicle (UAV) market growth by introducing innovative drones. Some of the novel technologies consist of automation, artificial intelligence, and robotics."

The globalcommercial drone marketis set to gain traction from their increasing use in different industries, namely, Infrastructure, Transport and Delivery, Insurance, Media, Telecommunication, Agriculture, Security, and Mining. Additionally, introduction to various technologies, such as wireless communication, GNSS, satellite communications, RADAR/LiDar, and GPS, would affect the market positively.

As per the study, the commercial drone market size is projected to reach USD 6.30 billion by 2026, at a CAGR of 23.37% during the forecast period. However, it stood at USD 1.20 billion in 2018.

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Regional Analysis:

North America to Dominate Backed by High Demand for Drones for Security Purposes

In terms of region, the market is fragmented into Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America. Amongst these, North America held USD 711.9 million commercial drone market revenue in 2018 and is set to remain in the dominating position throughout the forecast period. This growth is attributable to the upsurging usage of drones for security and recreational purposes, engineering projects, and surveying and mapping applications in countries such as Canada and the U.S. Besides, the U.S. Federal Aviation Administration (FAA) put forward a few changes in norms to deliver coherent guideline concerning the safe and legal operation of UAVs in commercial sector.

AsiaPacific, on the other hand, is anticipated to showcase considerable growth backed by high demand for unique and automated drones from Japan and China. They are used extensively in both countries to tackle the increasing labor cost. Europe is expected to experience steady growth in the coming years because of the increasing government interventions to promote the usage of drones for a wide range of industrial applications.

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List of key companies covered by Fortune Business Insights(TM) in commercial drones market research report are;

DJI
Parrot Drones SAS
AeroVironment, Inc.
3DR
Airbus S.A.S.
YUNEEC
EHANG
Kespry
INSITU
Delair
AguaDrone.com
Autel Robotics USA
Other reputed companies
Competitive Landscape:

Reputed Drone Manufacturers Engage in Strategic Collaborations to Strengthen Position

Numerous commercial drone companies present in the market are mainly focusing on partnering up with other enterprises to broaden their geographic presence and increase product portfolio. In addition to that, they are working persistently to gain maximum commercial UAV market share during the forthcoming years.

Below are a couple of key industry developments:

October 2019: Ansari Precision Instruments Pvt. Ltd., a surveying instruments manufacturer, recently entered into a strategic partnership with Terra Drone India, a company specializing in utilities, renewables, GIS, oil and gas, and mining. The main aim of this partnership is to sell the latter's Quantum Systems GmbH German-engineered professional long-range UAVs in India. As per the agreement, an after-sales support and service center will be established in Hyderabad. It would help the government of India to promote the usage of drone technology for surveillance, reconnaissance, surveying, and mapping activities.
May 2018: DJI, a Chinese technology company, headquartered in Guangdong, collaborated with Microsoft to create a software development kit (SDK) for letting Windows 10 devices control the drones. As per the company officials, this tie-up would aid in making the drone technology available for approximately 700 million Windows 10 customers worldwide.
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