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Commercial Drone Market Insights by Business Opportunities and Growth Trends to 2024

Author : Ronak Bora | Published Date : 2020-09-10 

North America is the dominating region in the commercial drone market owing to the relaxation on the use of UAVs for commercial applications by the FAA. The rising adoption of drones for covering events through aerial photography, filming, and video is also driving the market growth. The existence of large number of players such as 3D Robotics, PrecisionHawk, Aeryon Labs, with the support of government initiatives and policies also support the growth of the market. For instance, the U.S. government in 2017 introduced a program to drive the testing of commercial UAVs to include night time operations, flights flown over people and flights beyond VLOS. The program will accelerate the adoption of UAVs into the NAS and test UAVs detection and tracking, with reducing few limits on their use.

The Asia Pacific region is anticipated to grow with the highest rate during the forecast timespan due to the supportive government policies and initiatives for the driving the adoption of UAVs for commercial purposes and rising awareness for drone applications. The commercial drone market is also aided by the rising adoption of drones by the enterprises and customers in fields such as retail, agriculture, and construction. Furthermore, the existence of considerable number of UAV manufacturers in the Asia, particularly in China, such as Xiaomi and DJI, is aiding to the market.

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Agriculture sector is the most lucrative market for commercial drone market space. As the benefits of drones are becoming more apparent to farmers, their adoption is increasing for different agricultural applications to facilitate higher precision and consistency. The relatively low price of the UAVs with advanced imaging capabilities and sensors are enabling farmers to increase their yields and reduce cost of production. Players operating in the agriculture and digital farming market are developing modern agriculture focused drones with sophisticated precision and accuracy. For instance, in February 2017, Drone AG, a drone-assisted precision farming firm, entered into a partnership with Aerobotics, a South African data analytics firm, to provide weather-proof agricultural drones along with a cloud-based farm management software. These drones use high-end DJI components and can quickly cover large areas even in adverse weather situations.

Over the recent years, the commercial drone market has garnered immense popularity owing to the substantial increase in civil applications of unmanned aerial vehicles. It is quite a well-known fact that the commercial utilization of unmanned aerial vehicles has been steadily rising since the early 1980s. However, a significant increase in investments and the relaxation of some regulatory norms across the globe have opened up an array of practical applications of drones across numerous business domains. This has, in consequence, acted as a pivotal factor in propelling the commercial drone/UAV market share in the recent times.

Boasting of a vast expanse of application spectrum, commercial drone market has gained extensive popularity over the past few years. As far as the wide-scale deployment of UAVs is concerned, the agriculture sector has emerged as one of the most lucrative end use segment of commercial drone/UAV industry in the recent times. It would be prudent to mention that drones are increasingly being utilized across agricultural fields in analyzing soil, assessing the health of crop, appropriate spraying of pesticides, planting of seeds, and irrigating the field throughout the crop cycle.

In fact, the technological advancements in drones have made it easier to formulate a comprehensive 3D map for soil analysis which can aid farmers to seamlessly analyze seed planting patterns. Apparently, the aforementioned benefits of deploying drones in the agricultural sector have impelled the growth potential of commercial drone market.

Elaborating further, it has been observed that numerous leading commercial drone market participants have been forming robust alliances with government institutions to tap into the steadily evolving agricultural drones space. Citing an instance to highlight this trend, Parrot Drones has recently announced a share-cost initiative with the Technical Centre for Agriculture and Rural Cooperation (CTA) to use drones in the agriculture sector of the sub-Saharan African region. Reportedly, the announcement of the latest collaboration comes in the backdrop of Parrot’s recent launch of its thermal imaging drone, the Parrot Bluegrass, that is particularly designed for precision agriculture. The innovative drone is equipped with both a multispectral sensor and a video camera along with a unique processing cloud platform.

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Some of the prominent vendors of the commercial drone market are Parrot, DJI, 3D Robotics, Yuneec International, AeroVironment, PrecisionHawk, Bae Systems, Airobotics, Airware, DroneDeploy, senseFly, Cyberhawk, Hoverfly Technologies, Ehang Inc, and Intel Corporation. Market players are adopting several strategies such as merger and acquisition, partnership & collaboration, customization, and geographical expansion to increase their market share.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology & Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and research parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.   Executive Summary

2.1.  Commercial drone market 360º synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Type trends

2.1.4. Mode of operations trends

2.1.5. Application trends

Chapter 3.   Commercial Drone Market Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  Industry landscape, 2013 - 2024

3.4.  Industry ecosystem analysis

3.5.  Market evolution

3.6.  Market news

3.7.  Commercial drone regulations

3.7.1. U.S.

3.7.2. Canada

3.7.3. U.K.

3.7.4. Germany

3.7.5. France

3.7.6. Italy

3.7.7. Spain

3.7.8. Australia

3.7.9. China

3.7.10.  India

3.7.11.  Japan

3.7.12.  South Korea

3.7.13.  Brazil

3.7.14.  Mexico

3.7.15.  Argentina

3.7.16.  UAE

3.7.17.  Israel

3.7.18.  South Africa

3.8.  Pricing analysis

3.9.  Technology & innovation landscape

3.9.1. AI in drones

3.9.2. Nano & Mini drones

3.9.3. 3D printing of drones

3.9.4. Cloud computing-based services

3.9.5. Advanced material in manufacturing of drones

3.9.6. Drones taxies or passenger drones

3.9.7. IoT drones

3.10.      Commercial drone use cases

3.10.1.  Agriculture

3.10.2.  Photography & Filming

3.10.3.  Construction

3.10.4.  Real estate

3.10.5.  Retail

3.11.      Industry impact forces

3.11.1.  Growth drivers

3.11.1.1.     Venture capital investment in drone technology

3.11.1.2.     Increasing use cased of drones in civil applications

3.11.1.3.     Increasing affordability and accessibility of drones

3.11.1.4.     Advancement in design and integrated data intelligence

3.11.1.5.     Strong Chinese market and growing demand from developing economies

3.11.2.  Industry pitfalls & challenges

3.11.2.1.     Stringent government regulations

3.11.2.2.     Security & privacy issues

3.12.      Growth potential analysis

3.13.        Porter's analysis

3.14.        PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/unmanned-aerial-vehicles-UAV-commercial-drone-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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