The
global commercial drone market size is expected to reach USD 2.07 billion by
2022, according to a new report by Grand View Research, Inc. Increased utility
in law enforcement and agricultural applications is expected to play a pivotal
role in market growth over the forecast period. Having made their presence felt
in the military sector, these Unmanned Aerial Vehicles (UAVs) have gradually
gained prominence in the commercial sector and are foreseen to surpass the
growth observed in the former.
Prominent
retailers and e-commerce players have experimented the use of drones to deliver
packages to consumers in a much shorter duration as compared to the traditional
delivery media. The use of drones for retail is pending government approval,
particularly in the U.S. Once regulatory clearance is obtained, drones are
expected to revolutionize the retail sector.
In depth research report on Commercial Drone Market
Further key findings from the study suggest:
·
Government applications which
include law enforcement, infrastructure, and research & development
contributed to over 40% of the market revenue in 2014. Commercial drones have
garnered importance in search and rescue missions, scientific research, and
mapping. Agriculture is expected to emerge as a lucrative application sector
over the forecast period. These UAVs aid farmers by taking snapshots of a vast
array of fields and providing crucial data pertaining to soil and crops, thereby
assisting in crop management. Use of UAVs in retail is expected to transform
the industry dynamics and is foreseen to positively shape market growth.
·
Rotary blade drone accounted
for over 75% of the market share in 2014. Its popularity can be attributed to
the fact that it is capable of flying in every direction as well as hovering in
a fixed position, which its fixed wing counterparts cannot achieve. Fixed wing
drone is more suited for aerial mapping, undertaking topographic surveys, and
terrain modeling of larger areas which include stockpiles & mine sites.
·
North America contributed to
over 55% of the global revenue in 2014, which can be attributed to high
production and increased use in law enforcement and agricultural activities.
The regulatory scenario is Europe is more conducive to market growth as opposed
to the U.S., which is expected to play a pivotal role in high penetration of
commercial drones in Europe. Asia Pacific stands to witness high proliferation
of commercial UAVs over the forecast period. Countries such as Japan and
Australia have emphasized on the use of UAVs in agriculture.
·
Key market participants include
Parrot SA, The Boeing Company, Textron Inc., Northrop Grumman, Lockheed Martin
Corporation, Israel Aerospace Industries, General Atomics, Elbit Systems Ltd.,
DJI, BAE Systems PLC, and AeroVironment Inc. Strategic alliances with
government agencies and collaborations with prominent technology providers are
some of the strategic steps taken by market players to gain a foothold in the
industry.
For
the purpose of this study, Grand View Research has segmented the global
commercial drone market on the basis of product, application, and region:
Commercial Drone Product Outlook (Revenue, USD
Million, 2012 - 2022)
·
Fixed wing
·
Rotary blade
·
Nano
·
Hybrid
Commercial Drone Application Outlook (Revenue, USD
Million, 2012 - 2022)
·
Agriculture
·
Energy
·
Government
·
Media & Entertainment
·
Others
Commercial Drone Regional Outlook (Revenue, USD
Million 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Browse more research reports of this category:
http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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