Pune, Feb. 13, 2020 (GLOBE NEWSWIRE) -- The global Commercial Drone Market is set to gain traction from their increasing use in different industries, namely, Infrastructure, Transport & Delivery, Insurance, Media, Telecommunication, Agriculture, Security, and Mining. Additionally, introduction to various technologies, such as wireless communication, GNSS, satellite communications, RADAR/LiDar, and GPS, would affect the market positively.
Fortune Business Insights™ published the above information in a recent study, titled, “Commercial Drones Market Size, Share & Industry Analysis, By Product (Fixed Wing Drone, Rotary Blade Drone, and Hybrid Drone), By Technology (Remotely Operated, Semi-Autonomous, and Autonomous), By System (UAV Structure, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Industry (Infrastructure, Transport & Delivery, Insurance, Media, Telecommunication, Agriculture, Security, and Mining) and Regional Forecast, 2019-2026.” As per the study, the Commercial Drone Market size is projected to reach USD 6.30 billion by 2026, at a CAGR of 23.37% during the forecast period. However, it stood at USD 1.20 billion in 2018.
This Report Answers the Following Questions:
- What are the commercial UAV market trends and dynamics?
- How many growth drivers and challenges would the market exhibit?
- Which are the most significant companies present in the market?
- Which strategies are the companies adopting to keep up with the competition?
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Growth Driver:
Rising Technological Advancements to Boost Growth
Nowadays, the demand for commercial UAVs is upsurging. It is resulting in the persistent creation of technologically advanced drones. Several prominent manufacturers are also investing huge sums in research and development activities to launch unique products. As per one of our lead analysts, “Industry giants, such as AeroVironment, 3D Robotics, and DJI are accelerating the commercial unmanned aerial vehicle (UAV) market growth by introducing innovative drones. Some of the novel technologies consist of automation, artificial intelligence, and robotics.”
Regional Analysis:
North America to Dominate Backed by High Demand for Drones for Security Purposes
In terms of region, the market is fragmented into Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America. Amongst these, North America held USD 711.9 million Commercial Drone Market revenue in 2018 and is set to remain in the dominating position throughout the forecast period. This growth is attributable to the upsurging usage of drones for security and recreational purposes, engineering projects, and surveying and mapping applications in countries such as Canada and the U.S. Besides, the U.S. Federal Aviation Administration (FAA) put forward a few changes in norms to deliver coherent guideline concerning the safe and legal operation of UAVs in commercial sector.
Asia Pacific, on the other hand, is anticipated to showcase considerable growth backed by high demand for unique and automated drones from Japan and China. They are used extensively in both countries to tackle the increasing labor cost. Europe is expected to experience steady growth in the coming years because of the increasing government interventions to promote the usage of drones for a wide range of industrial applications.
Browse Summary of Commercial Drones Market Research Report Enabled with Detailed Table of Contents, List of Tables and Figures: https://www.fortunebusinessinsights.com/commercial-drone-market-102171
List of key companies covered by Fortune Business Insights™ in commercial drones market research report are;
- DJI
- Parrot Drones SAS
- AeroVironment, Inc.
- 3DR
- Airbus S.A.S.
- YUNEEC
- EHANG
- Kespry
- INSITU
- Delair
- AguaDrone.com
- Autel Robotics USA
- Other reputed companies
Competitive Landscape:
Reputed Drone Manufacturers Engage in Strategic Collaborations to Strengthen Position
Numerous commercial drone companies present in the market are mainly focusing on partnering up with other enterprises to broaden their geographic presence and increase product portfolio. In addition to that, they are working persistently to gain maximum commercial UAV market share during the forthcoming years.
Below are a couple of key industry developments:
- October 2019: Ansari Precision Instruments Pvt. Ltd., a surveying instruments manufacturer, recently entered into a strategic partnership with Terra Drone India, a company specializing in utilities, renewables, GIS, oil and gas, and mining. The main aim of this partnership is to sell the latter’s Quantum Systems GmbH German-engineered professional long-range UAVs in India. As per the agreement, an after-sales support and service center will be established in Hyderabad. It would help the government of India to promote the usage of drone technology for surveillance, reconnaissance, surveying, and mapping activities.
- May 2018: DJI, a Chinese technology company, headquartered in Guangdong, collaborated with Microsoft to create a software development kit (SDK) for letting Windows 10 devices control the drones. As per the company officials, this tie-up would aid in making the drone technology available for approximately 700 million Windows 10 customers worldwide.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments - Mergers & Acquisitions
- Overview of Avionics Market by Key Countries, 2018
- Technological Advancements in Commercial Drones
- Porter Five Forces of the Global Commercial Drone Market
- Supply Chain/ Value Chain Analysis
- Global Commercial Drone Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Fixed Wing Drone
- Rotary Blade Drone
- Hybrid Drone
- Market Analysis, Insights and Forecast – By Technology
- Remotely Operated
- Semi-Autonomous
- Autonomous
- Market Analysis, Insights and Forecast – By System
- UAV Structure
- UAV Payloads
- UAV Avionics
- UAV Propulsion
- UAV Software
- Market Analysis, Insights and Forecast – By Industry
- Infrastructure
- Transport & Delivery
- Insurance
- Media
- Telecommunication
- Agriculture
- Security
- Mining
- Market Analysis, Insights and Forecast – By Country
- North America
- Europe
- Asia pacific
- Latin America
- Middle East &Africa
TOC Continued….!
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Read Press Release on Commercial Drone Market: https://www.fortunebusinessinsights.com/press-release/commercial-drone-market-9580