Global Commercial Drone Market Trend & Segmentation by Product (Fixed Wing Drone, Nano Drones, Rotary Blade Drone, Hybrid Drone), By Mode of Operation (Remotely Operated, Semi-Autonomous, Autonomous), By Application (Aerial Photography, Agriculture, Emergency Management, Inspection & Monitoring, Remote Sensing & Mapping, Wildlife Research & Preservation), By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: January 2020
- Report ID: BWC19382
- Available Format: PDF
- Page: 210
Global Commercial Drone Market: Overview
A drone refers to an unpiloted aircraft, space, unmanned aerial vehicle, "or UAV. Drones are used for military applications because they do not place a pilot's life at risk in combat areas. The commercial use of the drone is known as a commercial drone. Drones fly with several propellers mounted on arms extending from the middle. You can use a proprietary controller or a smartphone app to fly drones. To achieve autonomous flight or pre-programmed flight plans, UAVs operated with a computer. To improve maneuverability while flying and reduce the weight, a drone made of various light composite materials. Commercial drone fitted with a range of additional devices, including cameras, GPS-guided missiles, Global Positioning Systems (GPS), navigation systems, sensors, etc.
Global Commercial Drone Market Forecast and Trends
The global market for Commercial Drone anticipated expanding at a 23.6% CAGR to reach US$ Billion by 2026. Due to the increasing demand for improved information to enable better and more practical insights into results. The fact that UAVs can perform dangerous tasks, such as inspecting utility pipelines, with greater precision and price-effectiveness compared to traditional methods, is one of the key factors driving their demand in commercial sectors. Leading technology pioneers have illustrated the use of UAVs to deliver goods to the customer from the factory. Emerging economies would offer growth and expansion opportunities. Drone hardware and software vendors ' rising ecosystem is already catering for the significant farming, electricity, land management, real estate, etc. markets. Are not only small private companies or start-ups interested in using commercial drones, but large companies and industries often invest in commercial drone technology.
Technologically Advanced Products
Camera digitization and technological advances, drone features, mapping software, multidimensional imaging, and sensitive applications are expected to drive the growth of the demand for commercial drones during the forecast period. Persistent technology advances and the introduction of technologically advanced devices, including such Elbit Systems Ltd.'s multi-spectral electro-optic system; and Israel Aerospace Industries Ltd.'s M-19HD, introduced by players in the industry, have increased drone market demand in recent years.
High-Resolution Satellite Imagery as a Substitute
Satellite imagery used to be a costly proposition, but now businesses are focusing on developing advanced technological, strong-precision, and cost-effective imaging solutions. In contrast, as opposed to aerial imagery, satellite services have no regulatory hurdles, negatively affecting the share of the market of commercial drones during the forecast period.
Privacy and Security Concerns
Privacy issues and legislation on national security are projected to impact the market negatively in the coming years. In civilian areas, aerial services sometimes enable filming and photography, something that affects people's privacy. Many Asia-Pacific and Middle East countries do not have clear guidelines for aerial imaging and mapping services.
Rising adoption of satellite imagery
Increasing location-based service (LBS) adoption and increasing the use of satellite imagery in different sectors propel the market growth of the global market for commercial satellite imagery. The increase in context-conscious applications is expected to hinder the growth of commercial drones on the global market during the forecast period.
Global Commercial Drone Market: Type
The commercial drone market segmented into Fixed Wing Drones, Nano Drones, Rotary Bade Drones and Hybrid Drones based on size. Amid the class of fixed-wing drones, market growth with a significant growth rate expected. Fixed-wing drones usually preferred activities such as topographical surveys, aerial mapping, and terrain modeling in more substantial areas because of their long-term flying ability at high altitudes. Followed by fixed-wing drones, over the forecast period, the hybrid drones segment is expected to contribute significantly to the global market as they can provide increased range, power, and payload size relative to their battery-powered counterparts.
Global Commercial Drone Market: Application
Market segmented in Agriculture and Environment, Media and Entertainment, Energy, Government, Construction & Archaeology, as well as others based on commercial drone applications. During various phases of disaster management, commercial drones prove to be quite beneficial as they support search and recuse teams to find disaster-affected areas and assist during disaster response. The increasing use of drones in the real estate and construction industry has resulted in a significant transformation of the industry's traditional business processes. Increasing demand for the production of advanced farming techniques is expected to drive the agricultural sector's market for commercial drones throughout the forecast period.
Global Commercial Drone Market: Regional insights
North America expected to be the largest market share in revenue in 2019 and anticipated to witness market growth in the forecast period as a result of favorable government programs to promote drone technology coupled with increased competition for drone-acquired data from businesses. In the forecast period, Asia Pacific anticipated contributing to the global market. Emerging economies like China and Japan are rapidly adopting automation and advanced technology across a wide range of industries to combat rising labor costs. Companies operating on the regional market are exploring new ways of changing their traditional business operations by taking advantage of drones ' benefits.
The objective of the Study:
· To analyze and forecast the global Commercial Drone market size of the market in terms of value.
· To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Commercial Drone market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.
· To outline, categorized, and forecast the global Commercial Drone market based on the type and application.
· To examine competitive developments like technological advancement, services, and regulative framework within the global Commercial Drone Market.
· To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
· To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Scope of the Report
· Fixed Wing Drones
· Nano Drones
· Rotary Bade Drones
· Hybrid Drones
By Mode of Application
· Remotely Operated
· Aerial Photography
· Emergency Management
· Inspection & Monitoring
· Remote Sensing & Mapping
· Wildlife Research & Preservation
· North America
· Asia Pacific (APAC)
· Latin America
· Middle East & Africa
· The Boeing Company
· Parrot SA
· 3D Robotics
· Strat Aero
· Thales Group
· Lockheed Martin Corporation
· Textron Inc.
· Israel Aerospace Industries
· Northrop Grumman
· Prox Dynamics AS
· Turkish Aerospace Industries Inc
· Other Prominent Players
Business Questions Answer by the Report
· How will the market drivers, restraints, and opportunities affect the market dynamics?
· What will be the market size in terms of value and volume and market statistics with a detailed classification?
· Which segment dominates the market or region, and one will be the fastest-growing, and why?
· A comprehensive survey of the competitive landscape and the market participant players
· Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority, and that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
· With five additional company detail analysis
· Additional country analysis
· Detailed segment analysis
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