Global Commercial Drones Market: Snapshot
Introduction of commercial drones are expected to change our day-to-day working. Drones help in analyzing agriculture fields, provide better and enhanced images and videos, helps us to reach areas and terrains that are not possible to reach, and help in tracking every minute detail from time to time. Therefore, the use of drones have grown largely across the globe, as it can be used in surveillance, aerial photography, and precision agriculture. Moreover, growing popularity of commercial drones and rising awareness of its benefits are also expected to drive the global commercial drones market.
The global commercial drones market is expected to rise at healthy 13.8% of CAGR during the forecast period between 2017 and 2025. The market is projected to reach a valuation of US$8.8 bn by the end of 2025 progressing from US$2.8 bn earned in 2016.
Rising Demand for High Resolution Images in Entertainment Industry to Fuel Demand for Aerial Photography
The global commercial drones market is categorized on the basis of types and application. In terms of type, the market is classified into fixed winged drones, multi-rotor drones, hybrid drones, and single rotor drones. Out of these, the demand for multi-rotor drones is high as compared to the other types of drones. Over the forecast period, the demand for this type of drone is likely to increase and could the overall market.
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The application of commercial drones is seen in aerial photography, precision agriculture, survey mapping, surveillance, and energy. Among these, aerial photography holds 25% share in the overall market and is likely to dominate the global market during the forecast period. The aerial photography drones are integrated with cameras of high resolutions, their demand is expected to increase in the media and entertainment industry. Moreover, growing demand for high quality images and videos and advantage of recording 4K videos are also expected to drive the demand for aerial drones.
Precision Agriculture to Drive Demand for Commercial Drones in North America
On the basis of geography, the global commercial drones market covers Asia Pacific, Europe, Latin America, the Middle Eastand Africa, and North America. Out of the regions, North America held maximum share in the global market in 2016.
Over the forecast period, this region is likely to dominate the market due to increasing use of commercial drones that are being widely used for precision agriculture mainly in countries like the U.S. In United States commercial drones, helps in monitoring cattle, irrigation equipment, and analyzing harvest that will further augment the demand in the global commercial drones market. Furthermore, increasing crime rate in this region has also boosted the demand for commercial drones that help in surveillance and help in monitoring crime rate in the region.
The report also provides details about the key players operating in the global commercial drones market. Some of the leading players in the market are Elbit Systems Ltd., Draganfly, Parrot S.A., Aurora Flight, and Lockheed Martin Corporation. Leading players are using different strategies to strengthen their position in the global market.