Global Commercial Drones Market Set to Exhibit Momentous Revenue Share at US$8.8 bn by 2025
global commercial drones market is forecast to exhibit a CAGR of 13.8% between 2017 and 2025. At this pace. The marketís valuation is expected to reach US$8.89 bn by the end of 2025, from US$2.8 bn in 2017.
[EUPRwire, Fri Apr 12 2019] 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.
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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.
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.
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.
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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
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