The Objective of the "Global Commercial Drones Market" report is to depict the trends and upcoming for the Commercial Drones industry over the forecast years. Commercial Drones Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2016 to 2022 mulling over 2015 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation. A new report published by Allied Market Research projects that the global Commercial Drones Market was valued at $2,145 million in 2015, and is projected to reach $10,738 million by 2022, growing at a CAGR of 26.2% from 2016 to 2022.
The commercial drone market growth is driven by factors such as technological innovation in cameras & sensors and upsurge in application areas of drones. However, factors such as stringent government regulations regarding security & privacy and use of satellite imagery as a substitute to these drones are anticipated to hamper the commercial drone market growth during the forecast period. Increased application areas for commercial drones among various industry verticals and increased market for smartphones is expected to create lucrative opportunities for the commercial drone industry.
In 2014, the rotary blade segment dominated the global commercial drone market with around 71% share. This is attributed to evolution in imaging and sensory capabilities and the development of smart cameras and new interfaces. Furthermore, the hybrid drones segment is projected to witness the highest CAGR of 29.6% during the forecast period, as hybrid drones possess the capabilities of both rotary and fixed-wing drones.
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In 2014, the agriculture & environment segment dominated the global market with around 28% share, followed by construction & archaeology. Furthermore, the construction & archaeology segment is projected to grow at the highest CAGR of 29.4% from 2016 to 2022, owing to increase in the need for surveillance of sites, map building, monitoring, project estimation, detailed topographic models, 3D modeling, and reconstruction services.
The commercial drones market is categorized into four regions, namely North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor to the global market in 2014, accounting for around 39% share. The Asia-Pacific commercial drones market is projected to grow at the highest CAGR of 29.6% during the forecast period on account of the growing market for the media and entertainment industry, precision agriculture, construction sector, and others in countries such as India, China, Japan, and Australia.
The report features a competitive scenario of the global commercial drones market and provides a comprehensive analysis of key growth strategies adopted by major players. Some of the key players operating in the industry are SZ DJI Technology Co., Ltd., Parrot SA, 3D Robotics, Inc., Leptron Unmanned Aircraft Systems, Inc., PrecisionHawk Inc., Yuneec International Co. Ltd., Aeryon Labs Inc., AeroVironment, Inc., Trimble Navigation Ltd., and Insitu Inc.
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Key questions answered in Commercial Drones Market research study:
- What is the market growth rate of Commercial Drones Market from 2016-2022?
- What will be the global market size of the market from 2016 to 2022?
- Who are the leading global manufacturing companies in the Commercial Drones Market?
- What are the major current trends and predicted trends?
- What are the challenges faced in the Commercial Drones Market?
- Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
- Which will be the anticipated growth rates for your own Data Masking economy altogether and also for every segment inside?
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- What are the conclusions of the Commercial Drones Market report?
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