Technically evolving from military tools to luring hobbyists around the globe, drones technology has developed and established its presence in corporate world in the last few years.
Over the recent past, some big tech-based companies are deeply investigating drone-delivery services. On the other hand, others are exploring if specially equipped drones can supply internet connectivity in remote areas. Similarly, few companies are investigating industry-specific solutions.
Furthermore, firms around the world are experiencing multiple commercial applications such as photography, surveillance, or video and they have started using them to transform daily work in some sectors.
For instance, companies in insurance sector are using drones to scrutinize damaged assets. At the same time, farmers are using it to collect soil data and monitor crops.
Developments around the world in various industries thus signal how commercial drones’ investment and utilization will increase in the near future. As with any new industry, the commercial drones market is likely to take some unexpected turns.
Investment is surging, however, most enterprises are directing their funds to untested applications. In current situation, air-taxis is gaining steady traction. Such technologies are still in development stage and consumer acceptance is difficult to forecast.
Nevertheless, some companies are showcasing ample efforts to seek huge benefits from their investments made. Considering some instances, firstly, UK’s Civil Aviation
Authority declared in September 2020, the plan to develop world’s first commercial super-highway drone corridor-Project Arrow in unrestricted and open airspace connecting Thames Valley to the west of London.
Secondly, in September 2020, Zipline collaborates with Walmart to bring first of its kind commercial drone delivery service in the US. These developments in unmanned aerial systems (UAS) will catapult the growth of the commercial drone market size.
Impact of COVID-19 Pandemic Outbreak
COVID-19 pandemic outbreak has reshaped the ways various industries and businesses function and the commercial drone industry is no exception. Thus the changes in drone industry are imminent and the players in the market would feel them over the coming years.
The usage of commercial drones is increasing for various purposes during the lockdown in many countries.
The use of commercial drones is effective in disinfecting area. Thus to prevent further spread and disinfect public areas, some countries have deployed agriculture spraying drones filled with disinfectant instead of pesticides.
In addition the drones are also being used to deliver essentials particularly in important areas, where there can be presence of virus such as hospitals. Thus the demand of commercial drones is anticipated to increase, which will in turn drive the growth of the market by 7-8% by the end of 2020.
Commercial Drones Market: Driver and Restraint
Sophisticated Technologies to Fuel Commercial Drones Market Growth
Drones are highly dependent on sophisticated technologies; however most of them are under development in the current state. As few drones can fly without any user directing the path autonomous flight technology will continue to evolve.
In the coming five years development in dynamic routing handoffs between machine and human controllers and system-failure responses will trigger the demand for commercial drones. With better autonomous control enterprises will pursue its usage that is now elusive such as unpiloted and repeated surveillance of pipelines construction projects and mines.
Owing to these factors the commercial sector is witnessing huge demand for drones as it is improving productivity through overall reduction in the cost and enhancement in graphics visualizations of the project.
The usage of unmanned aerial vehicles (UAVs) has shown a significant improvement in tracking accuracy particularly in construction and real estate sector. Sophisticated technological development in the UAVs is expected to create new job prospects in the commercial drones market.
Government Regulations will Continue to Determine the Viability of Various Applications
Many countries are currently grappling with regulatory issues with drone. Implementations of new drone-supportive regulations by the government bodies across the globe are expected to reduce the entry barriers for new innovators and start-ups offering commercial operations of drones.
For instance the United States has created Drone Advisory Committee which includes industry stakeholder and regulators tasked to integrate drones into the national airspace. Creation of such committees is expected to remove the roadblocks for commercial drones’ market growth.
Commercial Drones Market: Competition Landscape
Examples of some of the market participants in the global commercial drones market identified across the value chain include
- SZ DJI Technology Co. Ltd.
- AeroVironment Inc.
- Parrot SA
- Leptron Unmanned Aircraft Systems Inc.
- 3D Robotics Inc.
- PrecisionHawk Inc.
- Trimble Navigation Ltd.
- Aeryon Labs Inc.
- Insitu Inc.
- Yuneec International Co. Ltd.
Commercial Drones Market: Regional Outlook
North America accounts for a major share in the commercial drones market. This trend is likely to continue over the forecast period due to growing demand from businesses for drone-acquired data along with favourable government initiatives related to advancement in drone technology.
The APAC region will continue to grow at a substantial pace as China and Japan are witnessing adoption of advanced technologies and automation to counter rising labour costs. Greater efficiency in agriculture sector is poised to catapult its adoption across APAC. Sales of commercial drones are steady in Europe owing to government regulations. Companies in the commercial drones market are exploring new paths to transform by leveraging benefits offered by UAVs.
The commercial drones market report is a compilation of first-hand information qualitative and quantitative assessment by industry analysts and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends macro-economic indicators and governing factors along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Commercial Drones Market Segments
- Commercial Drones Market Dynamics
- Commercial Drones Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Technology Landscape
- Value Chain of the Market
- Market Drivers and Restraints
Regional analysis includes:
- North America (U.S. Canada)
- Latin America (Mexico Brazil Rest of Latin America)
- Europe (Germany Italy U.K Spain France Nordic countries BENELUX Russia Rest of Europe)
- East Asia (China Japan South Korea)
- South Asia and Pacific (India Malaysia Indonesia Singapore Australia & New Zealand Rest of South Asia and Pacific)
- Middle East and Africa (GCC Countries Turkey Northern Africa South Africa Rest of MEA)
- Detailed overview of parent Commercial Drones market
- Changing Commercial Drones market dynamics in the industry
- In-depth market segmentation
- Historical current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Commercial Drones Market
- Strategies of key players and products offered
- Potential and niche segments geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Commercial Drones Market: Segmentation
The commercial drones market can be segmented on the basis of type, application, end-use and region.
- Rotary Blade
- Mapping & Surveying
- Precision Agriculture
- Filming & Photography
- Inspection & Maintenance
- Surveillance & Monitoring
- Delivery & Logistics
- Media & Entertainment
- Real Estate & Construction
- Security & Law Enforcement
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