Global Commercial Drones Market - Overview
The global market for commercial drones, the unmanned aerial vehicles (UAVs), represent the fast paced technological developments across the field of electronics, semiconductor, and aerodynamics. With a vast number and variety of drones entering the global market, having exceedingly advanced features, support for different sensors, and excellent flight control, the global market for commercial drones is becoming increasingly dynamic every passing day.
Keeping track of the various developments taking place at a rapid pace in the market can be a tough task for market participants. This report on the global commercial drones market includes vast quantitative and qualitative data pertaining to all crucial aspects of the present state of the market and the various developments observed in the past few years. The report, with the vast data about market segments, regional markets, regulatory framework, driving and restraining forces, and competitive landscape, serves as an efficient guide for the reader to gain a thorough insight into the present market and its foreseeable state over the period between 2016 and 2024.
Global Commercial Drones Market - Drivers and Restraints
The vast rise in the applications of commercial drones is one of the key factors driving the market globally. From undertaking tasks such as high altitude imaging, flood mapping, photography and video shooting, surveillance and rescue, and forest fire monitoring, commercial drones now also find extensive usage for tasks such as soil moisture imaging, environmental monitoring and mapping, and in-situ atmospheric monitoring. Increased use of commercial drones across these applications will lead to significant demand for a variety of commercial drones in the global market in the next few years.
Additionally, the increased use of drones for law enforcement practices, chiefly owing to their capability of transmitting high resolution video, images, and other surveillance data in real time to base stations, is also expected to drive the market significantly over the report’s forecast period. Moreover, the market’s growth is fueled owing to the vast technological advancements being observed in the field of sensors, semiconductors, and aerodynamics.
However, factors such as stringent government regulations pertaining to the safety and security concerns associated with UAVs could act as a key restraint for the market’s growth prospects over the report’s forecast period. The lack of trained drone operators could also act as a restraint for the market in the near future.
Global Commercial Drones Market - Segmentation
The report segments the global commercial drones market on the basis of criteria such as product type, technology, and geography. On the basis of product type, the market is segmented into fixed wing drone, rotary blade drone, nano drone, and hybrid drone. Based on technology, the market is segmented into collision avoidance systems, automation systems, cyber-security and jamming, energy and propulsion systems, and on-board data processing.
On the basis of application, the market is segmented into energy and power manufacturing, law enforcement, media and entertainment, energy and power manufacturing, agriculture and infrastructure, and scientific research. Of these, the segment of law enforcement is expected to hold the dominant market share in the global market over the report’s forecast period.
Companies Mentioned in the Report
Some of the key vendors operating in the global commercial drones market Trimble Uas, Hoovy Llc, Precision Hawk, 3D Robotics, Finmeccaniaca Spa, Drone Deploy, Northrop Grumman Corporation, Aurora Flight Sciences, Turkish Aerospace Industries, Inc., Boeing Corporation, Lockheed Martin Corporation, General Atomic Aeronautical Systems Ltd., Aerovironment Inc, Bae Systems Plc, Thales Sa, Israel Aerospace Industries Ltd. (Iai), Elbit Systems, Aeronautics Ltd., Textron Inc, Airware Inc. Safran Sa, Denel Soc Ltd., and Sensefly.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.