LONDON--(BUSINESS WIRE)--The global drone flight management system market is expected to post a CAGR of close to 30% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global drone flight management system market size is the increase in the adoption of drones by different industries. The growing innovations in the development of drones have led to diversified applications in various industries including construction, mapping, logistics, and surveying sectors. Several logistics companies are testing deliveries by drones and are planning to fully adopt drone delivery services in the future. Furthermore, surveillance drones and UCAVs are gaining traction in defense applications owing to increased capabilities of integrated thermal imaging cameras in drones. Thus, the increase in adoption of drones by different industries is likely to stimulate the adoption of drone flight management systems.
As per Technavio, the increase in R&D leading to the development of autonomous drones will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global drone flight management system market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Drone Flight Management System Market: Increase in R&D Leading to the Development of Autonomous Drones
Drone manufacturing companies are increasingly focusing on developing autonomous drones to expand their area of applications. The constant efforts of companies have led to the development of advanced solutions, sensors, and technologies, which is swiftly changing the size, shape, and application of drones. The development of sensors such as fusion sensors and high-frequency radar sensors has improved the sensitivity of drones. Thus, continuous R&D in the field of drones is leading to the development of completely autonomous drones, which will fuel the growth of the drone flight management systems during the forecast period.
“Apart from the increase in R&D leading to the development of autonomous drones, other factors such as the increase in M&A activities, and the development of lithium-metal batteries will have a significant impact on the drone flight management system market growth during the forecast period,” says a senior analyst at Technavio.
Global Drone Flight Management System Market: Segmentation Analysis
This market research report segments the global drone flight management system market by component (ground controller, data link, and onboard controller), and geographic regions (APAC, North America, Europe, MEA, and South America).
The APAC region led the drone flight management system market in 2018, followed by North America, Europe, MEA, and South America respectively. The growth of the drone flight management system market in APAC can be attributed to factors such as technological advances in electronic components, the availability of drones at a lower cost, and the growing demand for drones in the construction, event organization, mining, surveying, and industrial sectors.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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