The global commercial drones
market was sized over USD 3.17 billion in 2016. The Global commercial drones
market is projected to grow with a CAGR 16.30% in terms of value during the
forecast period, 2017-2023 and reach USD 9.14 billion by 2023. Commercial drone
is an unmanned aircraft system which is utilized for carrying out complex
commercial operations for businesses and governments. Various components can be
attached to the drones for carrying out specific tasks. Commercial drones can
carry higher payload, fly for longer period, and they have advanced flight
controllers and sensors. As it can be easily controlled from remote locations
and reach normally inaccessible locations, it find applications such as high
altitude mapping, land surveying, media coverage, movie production, precision
agriculture, real estate exploration, retail delivery, search & rescue
operations, law enforcement surveillance and industrial surveillance among
others. Unlike the conventional delivery vehicles, commercial drones require
less energy and it can provide last mile connectivity. The FAA and other
international regulations for commercial drones in terms of registration and
operations are opening up the sector for more commercial applications.
Commercial drones with a weight of less than 55 pounds, remotely controlled by
a licensed drone operator within visual limits, are allowed to operate up to an
altitude of 400 meters. However, this rule is not applicable for autonomously
operating drones. DJI innovations and parrot SA command huge share in the
global commercial drones market. Huge investments in research &
development, product innovation, acquisitions & mergers characterize the global
commercial drones market.
Market Insights
Precision agriculture segment is
the largest application segment in the commercial drones market, as drones are
very useful in monitoring weather, soil, crops, livestock and controlling pests
among others. Increasing number of applications that benefits governments, such
as disaster management, environmental studies, infrastructure monitoring, and
research & development among others are driving the growth of the global
commercial drones market. Growing demand for drones for law enforcement, due to
their advanced features that allow transmission of high resolution images,
videos and live surveillance data to the control rooms drive the growth of the
global commercial drones market.
Increasing instances of drug trafficking, terror activities, criminal
assaults are expected to further enhance the demand for commercial drones for
surveillance. Availability of advanced systems for capturing images and
recording videos at high resolutions such as HD and 4k is driving the demand
for commercial drones in media, and movies industries. Moreover, with the
availability of compatible smart phones and other portable devices, more
applications for commercial drones are expected to become popular during the
forecast period. Due to superior flight stability and cost effectiveness, the
demand for rotary blade drones for commercial applications is anticipated to
grow significantly during the forecast period. Formal regulations in various
countries regarding commercial registration, applications, qualification for
the remote drone pilots, are expected to enhance the growth of the commercial
drones market. The demand for commercial drones for industrial applications
such as inspection of machinery installations, oil & gas pipelines, solar
& wind turbine farms, and other industrial infrastructure is expected to
grow significantly during the forecast period. As drones require less energy
when compared to other delivery vehicles and it is easier control remotely, the
demand for drones for retail delivery from e-commerce and retail sectors for
short distances are expected to grow during the forecast period 2017-2023.
Absence of regulatory frameworks
in many countries is a major restraint for the commercial drones market, as it
prevents use of drones for many commercial operations. The apprehension about
misuse of drones for spying and other illegal activities among public and
governments is a restraint for the market. Shortage of certified drone
operators is another restraint for the global commercial drones market, even as
more companies are starting commercial services. Research and development and
technological advancements in the sector are yielding more applications for
commercial drones and it is expected to provide growth opportunities for the
major players in the commercial drones market. Moreover, there are export
opportunities for the manufacturers of commercial drones to the regions where
the drones industry is nascent.
Segments Covered
The report covers the analysis of
global as well as regional markets of commercial drones market. Moreover, the
global commercial drones market is segmented by application and by drone type.
The global commercial drones market by application covers aerial photography,
energy and infrastructure, entertainment & media, forest fire monitoring,
high altitude imaging, mapping, natural hazards monitoring, precision
agriculture, retail delivery, surveillance & inspection and some others. On
the basis of drone type, the market is segmented as fixed wing, hybrid,
multi-rotor, single rotor, nano and some others.
Geographies Covered
The global commercial drones
market covers the analysis of geographies such as North America, Europe,
Asia-Pacific and RoW. In this section, the key trends and market size for each
region is provided over the period of 2017 – 2023. Among geographies, North
America is the largest commercial drones market in the world. The presence of
large number of drone manufacturers and increasing number of applications for
drones in various sectors such as monitoring of cattle and irrigation equipment,
precision agriculture, retail delivery, and surveillance are driving the growth
of the North American commercial drones market. Europe is expected to be the
fastest growing market in terms of CAGR over the forecast period 2017-2023.
Favorable European Union regulations, growing demand from agriculture, law
enforcement and some other sectors are driving the growth of the European
commercial drones market. Increasing demand for commercial drones from
countries such as Australia, China, Japan and India for applications in sectors
such as agriculture, construction and media & movies among others drive the
growth of Asia-Pacific commercial drones market. A presence of large number of
drone manufacturers and exporters in Israel drives the Middle East commercial
drones market.
Companies Profiled
The companies covered in the
report include manufacturers of global commercial drones market include
AeroVironment Inc, Aurora Flight Sciences, BAE Systems Plc, DJI
Innovations,Draganfly, Elbit Systems Ltd, Israel Aerospace Industries, Lockheed
Martin Corporation, Northrop Grumman, Parrot SA,3D Robotics Inc, Textron Inc
and The Boeing Company.
Report Highlights:
The report provides deep insights
on demand forecasts, market trends and micro and macro indicators. In addition,
this report provides insights on the factors that are driving and restraining
the demand of commercial drones globally as well as regionally. Moreover,
IGR-growth matrix analysis given in the report brings an insight on the
investment areas that existing or new market players can consider. Moreover,
the study highlights current market trends and provides forecast from 2017 to
2023. We also have highlighted future trends in the commercial drones market
that will impact the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight on the
market share of the leading players. Additionally, the analysis highlights rise
and fall in the market shares of the key players in the market. This report
will help manufacturers, suppliers and distributors of the commercial drones
market to understand the present and future trends in this market and formulate
their strategies accordingly.
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