Which factors will augment commercial drone market size?

Boasting of a vast expanse of application spectrum, commercial drone market has gained extensive popularity over the past few years. As far as the wide-scale deployment of UAVs is concerned, the agriculture sector has emerged as one of the most lucrative end use segment of commercial drone market in the recent times. It would be prudent to mention that drones are increasingly being utilized across agricultural fields in analyzing soil, assessing the health of crop, appropriate spraying of pesticides, planting of seeds, and irrigating the field throughout the crop cycle.

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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 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.

The agriculture industry has emerged as one of the major end-users in the commercial drone market. They are used for a wide range of applications such as planting, soil and field analysis, crop monitoring, health assessment, crop spraying and irrigation in the complete crop cycle. Other use cases include producing a precise 3D map for soil analysis, which can guide in planning of seed planting patterns. A drone-driven method of soil analysis offers data for nitrogen level and irrigation management, which is also estimated to be a major factor driving the commercial drone market demand.

Extensive usage of UAVs in the agricultural sector to drive the commercial drone market progression

In fact, the technological advancements in drones have made it easier to formulate a comprehensive 3D map for soil analysis which can aid farmers to seamlessly analyze seed planting patterns. Apparently, the aforementioned benefits of deploying drones in the agricultural sector have impelled the growth potential of commercial drone market.

Elaborating further, it has been observed that numerous leading commercial drone market participants have been forming robust alliances with government institutions to tap into the steadily evolving agricultural drones space. Citing an instance to highlight this trend, Parrot Drones has recently announced a share-cost initiative with the Technical Centre for Agriculture and Rural Cooperation (CTA) to use drones in the agriculture sector of the sub-Saharan African region. Reportedly, the announcement of the latest collaboration comes in the backdrop of Parrot’s recent launch of its thermal imaging drone, the Parrot Bluegrass, that is particularly designed for precision agriculture. The innovative drone is equipped with both a multispectral sensor and a video camera along with a unique processing cloud platform.

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For the record, CTA is a joint institution of European Union and the African, Caribbean, and Pacific Group of States which aims to enhance agricultural productivity in its member countries by precise resource management and ensuring food security. Needless to mention, the latest partnership comes on the heels of the overall commercial drone market in the African continent.

Asia Pacific is estimated to gain substantial growth during the forecast period owing to the rapid increase in awareness for civilian drone applications and relaxation by government for the use of UAVs for commercial purposes. Furthermore, the presence of substantial number of drone’s manufacturers in the region, especially in China, such as DJI and Xiaomi, is also estimated to be drive the growth of the commercial drone market. The market is also aided by adoption of drones by the customers and enterprises in fields such as agriculture, retail, and construction.

TOC for this research report:

Chapter 1.   Methodology & Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and research parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.   Executive Summary

2.1.  Commercial drone industry 360º synopsis, 2013 – 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Type trends

2.1.4. Mode of operations trends

2.1.5. Application trends

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With a marked increase in the number of collaborations between technology leaders, governments, and industry players, the utilization of drones is bound to witness a transformative change in the forthcoming years. Furthermore, the deployment of drones across various end use domains including Wildlife Research & Preservation, Aerial Photography, Inspection & Monitoring, Emergency Management, and Remote Sensing & Mapping has observed a substantial increase. All these factors are certain to positively influence the growth potential of commercial drone market, which is forecast to surpass a remuneration portfolio of more than USD 17 billion by 2024.

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