LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global commercial drones market is projected to grow at a CAGR of more than 35% over the forecast period.
This research report titled ‘Global Commercial Drones Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
| The major drivers of the global commercial drones market are the improvements in batteries, payload capacities, and availability of sensors for capturing high-resolution images. The easing of the regulations regarding the integration of unmanned aerial vehicles (UAVs) into civilian airspace is expected to boost the market growth significantly. |
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Based on the end-users, the report categorizes the global commercial drones market into the following segments:
- Agricultural sector
- Energy and utility sector
- Public safety sector
- Infrastructure sector
- Media and entertainment sector
- Insurance sector
- Others
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The top three revenue-generating end-user segments in the global commercial drones market are discussed below:
Agricultural sector
“The global commercial drones market by the agricultural sector is expected to grow consistently during the forecast period, driven by the growing awareness about the increased application of these drones in the field of agriculture, especially in precision farming,” says Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for robotics research.
Vendors involved in making drones specific to the agricultural sector are constantly innovating the product designs and technologies to provide emphasis on improving the quality of images, along with precision in real-time data collection. The fall of component prices and improvement in stability and reliability, due to the efficiency of sensors and miniaturization of electrical components will lead to the entry of more market players.
Energy and utility sector
The drone market for the energy and utility sector comprises sales of drones that are employed in the inspection of assets, such as solar panels, pipelines, and turbines by companies in the energy and utility sector. The market is in the introduction phase and is expected to gain traction as there is an increase in adoption of green energy for energy generation.
The forecast period will witness the adoption of drones to improve the local site and long-range surveying as they are more cost-effective and increase the timeliness and quality of real-time information for inspection and maintenance activities. Companies that have deployed solar panels can now treat each solar panel in isolation, and provide remedial actions, thereby ensuring optimum energy production levels.
Public safety sector
“The global commercial drones market by the public safety sector will gain traction as drones are expected to be adopted by first response police teams, fire teams, and regional authorities for enhancing disaster management, law enforcement, and other such applications,” says Raghav.
Commercial drones will be adopted in the public safety sector to capitalize on their ability to acquire real-time aerial imaging, which can be used to improve the allocation of teams involved in public security. Commercial drones can help government services and aid agencies to determine areas that require urgent support, and ensure that the teams and resources are used more efficiently.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Aeryon Labs
- 3D Robotics
- DJI
- Parrot
- PrecisionHawk
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