Commercial drone market is defined by a vast application gamut and has gained widespread popularity on account of the same, over the past few years. On these grounds, it is pivotal to mention that the wide scale deployment of commercial drones has enabled the remote sensing and mapping segment to evolve as one of the major revenue pockets for the market in the recent times. It is prudent to mention that drones are significantly being used across the remote sensing and mapping segment for land condition analysis, vegetation monitoring, and various other mapping platforms. The remote sensing platforms ensure effective and automated farming in tandem with targeted crop measurement.
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As per estimates, remote sensing and mapping segment is probable to account for 15 per cent of the overall market share by 2024. Additionally, the agriculture industry has emerged as one of the most lucrative application segments as well, on the grounds of its expansive applications in planting, soil and field monitoring, health assessment, etc. eventually supplementing the business development.
Over the recent years, the commercial drone market has garnered immense popularity owing to the substantial increase in civil applications of unmanned aerial vehicles. It is quite a well-known fact that the commercial utilization of unmanned aerial vehicles has been steadily rising since the early 1980s. However, a significant increase in investments and the relaxation of some regulatory norms across the globe have opened up an array of practical applications of drones across numerous business domains. This has, in consequence, acted as a pivotal factor in propelling the commercial drone/UAV market share in the recent times. In fact, as per a research report by Global Market Insights, Inc., the global commercial drone market commanded a total valuation of over USD 2 billion in the year 2016.
Agriculture sector is the most lucrative market for commercial UAVs market space. As the benefits of drones are becoming more apparent to farmers, their adoption is increasing for different agricultural applications to facilitate higher precision and consistency. The relatively low price of the UAVs with advanced imaging capabilities and sensors are enabling farmers to increase their yields and reduce cost of production.
Players operating in the agriculture and digital farming market are developing modern agriculture focused drones with sophisticated precision and accuracy. For instance, in February 2017, Drone AG, a drone-assisted precision farming firm, entered into a partnership with Aerobotics, a South African data analytics firm, to provide weather-proof agricultural drones along with a cloud-based farm management software. These drones use high-end DJI components and can quickly cover large areas even in adverse weather situations.
North America is the dominating region in the commercial drone market owing to the relaxation on the use of UAVs for commercial applications by the FAA. The rising adoption of drones for covering events through aerial photography, filming, and video is also driving the market growth. The existence of large number of players such as 3D Robotics, PrecisionHawk, Aeryon Labs, with the support of government initiatives and policies also support the growth of the commercial drone market.
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For instance, the U.S. government in 2017 introduced a program to drive the testing of commercial UAVs to include nighttime operations, flights flown over people and flights beyond VLOS. The program will accelerate the adoption of UAVs into the NAS and test UAVs detection and tracking, with reducing few limits on their use.
Some of the prominent vendors of the commercial drone market are Parrot, DJI, 3D Robotics, Yuneec International, AeroVironment, PrecisionHawk, Bae Systems, Airobotics, Airware, DroneDeploy, senseFly, Cyberhawk, Hoverfly Technologies, Ehang Inc, and Intel Corporation. Market players are adopting several strategies such as merger and acquisition, partnership & collaboration, customization, and geographical expansion to increase their market share. For instance, DJI completed the acquisition of the Hasselblad, a Sweden based camera company, with the sole purpose to strengthen its position in the commercial drone market space.
Some Points From Table Of Content: –
Chapter 5. Global Commercial Drone Market, By Product
5.1. Global commercial drone market, by product, 2013 & 2024
5.2. Fixed wing drone
5.2.1. Market estimates and forecast, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2015 – 2024
5.3. Rotary blade drone
5.3.1. Market estimates and forecast, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Hybrid drone
5.4.1. Market estimates and forecast, 2013 – 2024
5.4.2. Commercial Drone Market estimates and forecast, by region, 2013 – 2024
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