Global Commercial Drone Market - Industry Forecast to 2025 - Driven by Adoption of Virtual Reality Technology in Drones

The global commercial drones market is dominated by DJI and Parrot S.A. These companies together account for over 75% of the market, finds Transparency Market Research (TMR) in a new study. Among these companies, DJI has emerged as the market leader in terms of revenue as it has an extensive product portfolio ranging from consumer to professional drones. Likewise, Parrot S.A. has gained considerable traction in the last few years. The companies especially focus on developing advanced drones with improved landing capabilities. Aurora Flight, Denel SOC Ltd., Draganfly, and Northrop Grumman Corporation are among other companies with strong foothold in the global commercial drones market.

Global Commercial Drones Market: Snapshot

The demand for commercial drones is accelerating thanks to their increasing use in aerial photography, precision agriculture, and surveillance applications. Images and videos captured through drones provide better image quality and resolution, which is a prime reason behind their application across diverse industries. Furthermore, with the recent advancements, 4K video capable smartphones and televisions have come into foray, which has made customers expect for better video and image quality. Taking cue from the prevailing trends, companies such as YUNEEC and DJI have launched commercial drones that offer HD video monitoring and 4K video recording capabilities. Will these trends will create lucrative opportunities for the market’s growth, it is also expected to gain from the falling prices of components.

According to Transparency Market Research (TMR), the global commercial drones market is forecast to exhibit a CAGR of 13.8% between 2017 and 2025. At this pace. The market’s valuation is expected to reach US$8.89 bn by the end of 2025, from US$2.8 bn in 2016.

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Global Commercial Drones Market: Drivers and Restraints

The global commercial drones market includes the drivers and restraints which are driving or hindering the demand in the global market. Few of the drivers pushing the demand for commercial drones include their adoption by law enforcement agencies due to their enhanced capabilities of transmitting high resolution videos and images. In addition, these drones are also capable of providing real time surveillance data to their base stations.

The global rise in criminal activities such as terrorism, drug trafficking and others are driving the demand for commercial drones in surveillance application. These factors are further aiding to the growing demand for commercial drones during the forecast period. However, there are few factors hindering the growth of the market. The use of commercial drones has led to the rising concern for privacy. This in return has led to reforms in government regulation for using commercial drones which is expected to hinder the growth of the market. Moreover, the increasing trend for better video and image resolution capabilities of commercial drones is expected to drive the market in future. Furthermore, the increasing technological innovation has resulted into the development of 4K video capable smartphones and televisions. This is in return is increasing the demand and expectation of consumers for drones with similar abilities.

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Global Commercial Drones Market: Key Segments

The global market for commercial drones has been segmented by types, application and geography. In terms of types the commercial drones can be categorized into single rotor, multi-rotor, fixed winged and hybrid drones among others. By application, the market has been segregated into precision agriculture, aerial photography, surveillance, survey mapping and energy among other applications. In terms of geography, the global market has been segmented into five strategic locations: North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The commercial drones market is facing intense competition from major players. These players are undergoing frequent mergers and acquisition from major players in order to sustain in the competitive environment. This report also studies the competitive environment of the major players in the form of market share of the key players. The key players have been profiled in terms of their business overview, financial overview, SWOT analysis and strategies adopted by them.

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