Dublin-(Business wire)-“Global Commercial Drone Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028” report added to ResearchAndMarkets.com Recruitment.
The global commercial drone market is expected to grow at a CAGR of 58.4% during the forecast period.
Increased investment in technology and a wide range of applications in different sectors
Increased investment in technology by emerging economies has created a stable flight platform essential for aerial photography. These investments have introduced a collision avoidance system that facilitates operation in the city. This factor is expected to be an important factor in driving the market.
In addition, increasing use of smart commercial drones throughout mapping, e-commerce, and agriculture is driving that growth. The rise of cloud-based data services and applications is also expected to drive the growth of the smart commercial drone market.
Shooting and photography to make a significant contribution to market growth
Based on the application, the market is divided into mapping and surveying, photography and photography, inspection and maintenance, precision agriculture, surveillance and surveillance, and more. The photography and photography sector is expected to be the fastest growing area of the commercial drone market and is in great demand.
The monitoring and monitoring segments are expected to hold the largest market share. Based on end-use, the market can be divided into agriculture, delivery and logistics, security and law enforcement, and more. Based on the product, the market is divided into fixed wings, rotary blades and hybrids.
A lucrative government program that benefits the North American market
North America gained the largest market share in terms of revenue due to the government’s favorable initiative on advances in drone technology and the growing demand from companies for the data acquired by drones. Such rules and regulations are expected to reduce barriers to entry that will help the industry drive in the coming years.
The Asia Pacific region is expected to achieve the fastest CAGR over the next six years. China and Japan are adopting automation and advanced technology in a wide range of industries to counter rising labor costs.
Players focusing on the commercial drone market
The global market is expected to remain fragmented as the number of new entrants increases over the next few years. Aeronavics Ltd., AeroVironment Inc., Aeroon Labs Inc., DJI, Draganfly Innovations Inc., EHANG, Intel Corporation, Parrot Drones SAS, PrecisionHawk, and YUNEEC have the potential to be at the forefront of competition in the global market.
FLIR Systems: In January 2019, Oregon-based drone company FLIR Systems acquired UAS company Aeryon Labs for $ 200 million. Based in Canada, Aeryon is a leading designer and manufacturer of drone solutions built around aircraft under £ 20.
The company primarily serves 20 military agencies in more than 30 countries, including the US Department of Defense, and works with the global military, public security, and critical infrastructure markets.
AeroVironment, Inc .: In June 2019, AeroVironment, Inc., a global leader in unmanned aerial vehicle systems (UAS) for both defense and commercial applications, acquired the developers and suppliers of small VTOLUAS, Pulse Aerospace, LLC. Announced. $ 25.7 million in cash, including $ 5 million milestone-based revenue payments. AeroVironment has fully funded the transaction from cash on hand.
Company Profile
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Aeronavics Ltd.
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AeroVironment Inc.
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Aeryon Labs Inc.
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DJI
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Draganfly Innovations Inc.
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EHANG
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Intel Corporation
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Parrot drone SAS
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PrecisionHawk
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unique
Report scope
By product
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Fixed wing
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Rotary blade
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hybrid
By application
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Mapping and surveying
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Shooting and photography
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Inspection / maintenance
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Precision agriculture
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Monitoring and monitoring
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others
By end user
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Agriculture
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Shipping and logistics
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Security and law enforcement
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others
For more information on this report, please visit https://www.researchandmarkets.com/r/ka5rds.