Global Commercial Drones Market: Snapshot
Owing to the rise in the number of uses in surveillance applications, precision agriculture and aerial photography, the global commercial drones market is expected to emerge with huge popularity in the years to come. Videos and images captured with the help of drones gives better quality of both resolution and image and this is a primary reason for their application around various industries.
Moreover, clients nowadays are expecting better image and video quality with the penetration of 4k video capability of televisions and smartphones in the market. Inspired by trends of the current generation, companies like DJI and YUNEEC have successfully launched drones for commercial purpose that offers 4k video recording and HD video monitoring capacities. With the emerging trend of using drones for photography and videography, the commercial drones market is to provide lucrative opportunities for the end users in the years to come.
The vendor landscape of the commercial drones market is seen to be consolidated but may be projected to intensify over the coming years because of the addition of number of players. Thus, with the entry of new players into competition, the commercial drones market is likely to become fragmented. At present the competition seems to be really tough as all players are focusing on manufacturing the best quality drones with the most advanced features in order to appear unique from the rest and attract more consumers. An important aspect where most manufacturers are focusing is the better to the best image quality and smooth landing capacity.
However, factors like privacy issues prohibiting drone usage in particular areas may act as a hindrance to the overall growth of the commercial drones market. Government is also regulating many rules and laws and restricting the application of drones in some areas, especially the military areas and across country borders. This may hamper the overall growth of drones in terms of commercial business.
Nevertheless, drones has gained its importance especially in the field of entertainment and media. Improved image and video formats are propelling the use of commercial drones in order to capture adventure activities, live sports, award functions and other art and entertainment events and telecast them. Owing to the popularity of these events, the global commercial drones market is to see high revenue shares in the future years.
Aerial Photography Contributing More Revenue Owing to Increasing Use of Media Industry
With regard to classification on the basis of application, the global commercial drones market is classified into energy, survey mapping, surveillance, aerial photography, and precision agriculture. Among these, the segment of aerial photography holds a 25% share in the market worldwide. Most of the aerial photography drones are provided with cameras of higher resolutions. Thus, the contribution of aerial drones to the overall market is basically because of the increasing use in the entertainment and media industry.
On the basis of drone type, the market is categorized into hybrid drones, fixed winged drones, single rotor drones, and multi-rotor drones. There is an increase in application of multi-rotor drones and this, among the rest is seen to be leading the market share. It is also presumed to continue to dominate the market in the years to come.
North America Dominating Market by Monitoring Agriculture and Irrigation Equipment
From a geographical perspective, the global market is categorized into the regions of Middle East and Africa, Asia Pacific, Europe, Latin America and North America. Among all the regions, North America is anticipated to be dominating the market since 2016. This is due to the rise in usage of commercial drones for the purpose of precision agriculture especially in countries like the U.S. There, the use of commercial drones is for monitoring irrigation equipment and cattle apart from other purposes. Moreover, the North American market is fuelled by the use of commercial drones for surveillance purpose.
Some of the leading players in the global commercial drones market are Draganfly, Elbit Systems Ltd., Parrot S.A., Lockheed Martin Corporation, and Aurora Flight.
Global Commercial Drones Market: Overview
Commercial drones are gaining popularity with their increasing demand in several application areas such as search and rescue operations, product delivery and high altitude mapping among others. There are several advantages of using commercial drones. The drones require less energy compared to large delivery vehicles. In addition, these drones can be easily controlled through a wireless remote controller. Furthermore, these drones can access hard to reach place and are being increasingly implemented in search and rescue missions and media coverage among other applications.
The global report on commercial drones also discusses the market trends related to the commercial drones which can drive the market in future. Furthermore, the study includes the market attractiveness analysis to get a better understanding of the most attractive application segment in future. This market research study analyzes the commercial drones market on a global level, and provides estimates in terms of revenue (USD million) from 2017 to 2025 wherein 2016 has been taken as the base year for the study.
Global Commercial Drones Market: Drivers and Restraints
The global commercial drones market includes the drivers and restraints which are driving or hindering the demand in the global market. Few of the drivers pushing the demand for commercial drones include their adoption by law enforcement agencies due to their enhanced capabilities of transmitting high resolution videos and images. In addition, these drones are also capable of providing real time surveillance data to their base stations.
The global rise in criminal activities such as terrorism, drug trafficking and others are driving the demand for commercial drones in surveillance application. These factors are further aiding to the growing demand for commercial drones during the forecast period. However, there are few factors hindering the growth of the market. The use of commercial drones has led to the rising concern for privacy. This in return has led to reforms in government regulation for using commercial drones which is expected to hinder the growth of the market. Moreover, the increasing trend for better video and image resolution capabilities of commercial drones is expected to drive the market in future. Furthermore, the increasing technological innovation has resulted into the development of 4K video capable smartphones and televisions. This is in return is increasing the demand and expectation of consumers for drones with similar abilities.
Global Commercial Drones Market: Regional Outlook
The developing economies like China, Japan and South Korea are increasingly adopting the commercial drones for various applications such as surveillance, precision agriculture and aerial photography. Furthermore, the drones are also being used in media and entertainment industry for capturing aerial videos and images in high resolutions. These factors are expected to drive the market for commercial drones in Asia Pacific region significantly during the forecast period.
Global Commercial Drones Market: Key Segments
The global market for commercial drones has been segmented by types, application and geography. In terms of types the commercial drones can be categorized into single rotor, multi-rotor, fixed winged and hybrid drones among others. By application, the market has been segregated into precision agriculture, aerial photography, surveillance, survey mapping and energy among other applications. In terms of geography, the global market has been segmented into five strategic locations: North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The commercial drones market is facing intense competition from major players. These players are undergoing frequent mergers and acquisition from major players in order to sustain in the competitive environment. This report also studies the competitive environment of the major players in the form of market share of the key players. The key players have been profiled in terms of their business overview, financial overview, SWOT analysis and strategies adopted by them. The leading players included in the study are Parrot S.A., Aurora Flight, Denel SOC Ltd., DJI Innovations, Draganfly, Northrop Grumman Corporation, Lockheed Martin Corporation, Elbit Systems Ltd. and General Dynamics Corporation.
The global Commercial Drones market can be segmented as follows;-
Global Commercial Drones Market, By Types
- Multi-rotor drones
- Single rotor drones
- Fixed winged drones
- Hybrid drones
Global Commercial Drones Market, By Application
- Precision Agriculture
- Aerial Photography
- Survey Mapping
Global Commercial Drones Market, By Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America