We have produced a new premium report Commercial Drones Market. The report covers the analysis of global as well as regional markets of Commercial Drones. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Commercial Drones Market by application (coversaerial photography, energy and infrastructure, forest fire monitoring, precision agriculture, retail delivery and others), drone type (wing, hybrid, multi-rotor, single rotor, nano and some others) through main geographies in the Global Commercial Drones Market such as North America, Europe, Asia-Pacific and RoW.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Commercial Drones Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Commercial Drones Market are 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.
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.
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.
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.
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.
Major Key Players Mentioned in this Premium Report
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.
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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