The global commercial drone market size is expected to reach USD 2.07 billion by 2022,
according to a new report by Grand View Research, Inc. Increased utility in law
enforcement and agricultural applications is expected to play a pivotal role in
market growth over the forecast period. Having made their presence felt in the
military sector, these Unmanned Aerial Vehicles (UAVs) have gradually gained
prominence in the commercial sector and are foreseen to surpass the growth
observed in the former.
Prominent retailers and
e-commerce players have experimented the use of drones to deliver packages to
consumers in a much shorter duration as compared to the traditional delivery
media. The use of drones for retail is pending government approval,
particularly in the U.S. Once regulatory clearance is obtained, drones are
expected to revolutionize the retail sector.
Browse full
report by Grand View Research :
http://www.grandviewresearch.com/industry-analysis/global-commercial-drones-marketFurther key findings from the study suggest:
- Government applications which include law enforcement,
infrastructure, and research & development contributed to over 40% of
the market revenue in 2014. Commercial drones have garnered importance in
search and rescue missions, scientific research, and mapping. Agriculture
is expected to emerge as a lucrative application sector over the forecast
period. These UAVs aid farmers by taking snapshots of a vast array of
fields and providing crucial data pertaining to soil and crops, thereby
assisting in crop management. Use of UAVs in retail is expected to transform
the industry dynamics and is foreseen to positively shape market growth.
- Rotary blade drone accounted for over 75% of the
market share in 2014. Its popularity can be attributed to the fact that it
is capable of flying in every direction as well as hovering in a fixed
position, which its fixed wing counterparts cannot achieve. Fixed wing
drone is more suited for aerial mapping, undertaking topographic surveys,
and terrain modeling of larger areas which include stockpiles & mine
sites.
- North America contributed to over 55% of the global
revenue in 2014, which can be attributed to high production and increased
use in law enforcement and agricultural activities. The regulatory
scenario is Europe is more conducive to market growth as opposed to the
U.S., which is expected to play a pivotal role in high penetration of
commercial drones in Europe. Asia Pacific stands to witness high
proliferation of commercial UAVs over the forecast period. Countries such
as Japan and Australia have emphasized on the use of UAVs in agriculture.
- Key market participants include Parrot SA, The Boeing
Company, Textron Inc., Northrop Grumman, Lockheed Martin Corporation,
Israel Aerospace Industries, General Atomics, Elbit Systems Ltd., DJI, BAE
Systems PLC, and AeroVironment Inc. Strategic alliances with government
agencies and collaborations with prominent technology providers are some
of the strategic steps taken by market players to gain a foothold in the
industry.
For the purpose of this study, Grand View Research has segmented the global commercial drone market on the basis of product, application, and region:
Commercial Drone Product Outlook (Revenue, USD Million, 2012 - 2022)
- Fixed wing
- Rotary blade
- Nano
- Hybrid
- Agriculture
- Energy
- Government
- Media & Entertainment
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
