Published on : Oct 07, 2020
Drones, or unmanned aerial vehicles (UAVs), are gradually establishing its application in various fields such as agriculture, entertainment, and energy sectors. This is influencing growth of smart commercial drones market. Earlier, use of drones was limited to military purpose. However, consistent development in the device has made its feasible for use in various sectors.
Inspecting utility pipelines with higher precision, ability to perform hazardous tasks, and cost-effectiveness when compared to the conventional methods are some of the factors driving demand for drones in commercial sectors.
Considering the present trends and adoption rate of smart commercial drones, the global smart commercial drone market is anticipated to clock robust CAGR of 83.3% during the forecast period (2018-2025). In the year 2017, the market value stood at US $ 1410 million. The value is projected to reach US $ 179,600 mn by the end of forecast period.
The newly added report in the RMoz library titled “Global Smart Commercial Drones Market Size, Status and Forecast 2018-2025” provides insight about various segments contributing to the expansion of global smart commercial drones market in the duration of forecast period.
The research report has also taken several drivers, trends, and restraining factors under consideration. Another area of focus of the report includes upcoming opportunities and competitive landscapes of the global smart commercial drones market.
Composed of 92 pages, the global smart commercial drones market report is presented in a chapter-wise format. Each chapter discusses different aspects of the market. The report includes an exhaustive array of graphs and pictorial representations to depict growth trends pictorially.
The preparation of the report involved an extensive research phase. Analysts reached out to experts and researchers of the global smart commercial drones market to understand various dimensions shaping the commercial drones market between 2018 and 2025. They have considered 2017 as the base year while preparing the report.
Use of Smart Commercial Drones Changing Conventional Construction & Delivery Methods
In recent years, use of commercial drones has increased substantially in real estate and construction sector. It has transformed the conventional process by improving safety, providing constant and reliable project updates, and avoiding hazardous situations on construction sites. Owing to facilities offered by drones in the industry, the end segment is anticipated to contribute to the growth of global smart commercial drones market.
Emergence of online platforms is presenting growth opportunities for expansion of global smart commercial drones market in coming years. Use of drones facilitate rapid and cheap delivery of good from warehouses to customers. As a result, various e-commerce companies are opting for drone-based delivery over the conventional method.
Government Regulations Support Adoption of Commercial Drones for Security Purpose
Further, smart commercial drones are also able to provide high-resolution images and videos, and transfer of surveillance data. Considering this application, commercial drones are being deployed in law enforcement and security verticals. Also, they can move in confined spaces and produce minimal noise. Moreover, commercial drone can be easily equipped with night vision camera. This, in turn, enables the drone to provide images in case of surveillance operations. This application is anticipated to boost the adoption rate of commercial drone. As a result, global smart commercial drones market is likely to expand in the forthcoming years.
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Regulations by government bodies are favoring growth of smart commercial drones market. For example, Federal Aviation Administration (FAA) in the U.S. has released regulations to support coherent guidelines for safe and legal operation of smart commercial drones. The regulation will reduce entry barriers and enhance the adoption rate in the region.
Some of the key companies in global smart commercial drones market are INSITU; AeroVironment Inc.; DJI; EHANG, Parrot Drones SAS; 3D Robotics; and Xiaomi.