Global Commercial Drone Market 2024 Overview, Demands, Market Share and Growth Rate Analysis

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Unmanned Aerial Vehicle (UAV) Market By Product ,
Applications and Regional Outlook 2017-2024
Global Market Insights, Inc.
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Commercial Drone Industry Overview

• The growth of the market is credited to
  increasing venture capital investment in the
  market space. In 2016, there were about 105 deals
  with an approximation of USD 541 million. It was
  estimated that the investment in commercial
  drones moved from hardware to software in 2017
  with the Venture Capitals (VCs) targeting
  end-to-end solutions, software, and counter-drone
  technology. One of the most important investments
  in 2017 was of 3D Robotics of about USD 53
  million Series D round from Atlantic Bridge
  CapitalTrue, VenturesFoundry and GroupMayfield.
  It witnessed the transition from hardware to
  software services. Moreover, commercial drone
  market companies which led the funding were
  targeting industrial and enterprise inspection.
• The technological advancements and innovation in
  the commercial drone market space is also
  estimated to drive the revenue. The integration
  of artificial intelligence and advanced machine
  learning algorithms has developed several new
  avenues for utilization of UAVs capabilities. For
  instance, retail industry is also leveraging the
  capabilities for delivering package. In December
  2016, Amazon successfully completed one of the
  first ever commercial deliveries in Cambridge,
  UK. Similarly, Zipline, a U.S. based robotics
  company deployed its fleet of drones to deliver
  blood in Rwanda to provide medical relief in
  remote areas of the East African region. The
  company even plans to utilize the capability of
  civil drones to delivery one of the largest drone
  delivery network in Tanzania.  

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Commercial Drone Industry Background

• The commercial UAVs market is growing
  exponentially with the advancement of technology
  and relaxation on regulation by the government
  authorities. The market has grown immensely in
  the past decade, with the start of an
  increasingly adoption and decline of costs since
  2004. This has resulted in an increase of
  production. Furthermore, increasing use cases in
  industry verticals such as construction, retail,
  reUAVal estate and agriculture is augmenting the
  industry growth.
• An unmanned aerial vehicle (UAV), commonly known
  as a drone, is an aircraft without a human pilot
  aboard. UAVs are a component of an unmanned
  aircraft system (UAS) which include a UAV, a
  ground-based controller, and a system of
  communications between the two. The flight of
  UAVs may operate with various degrees of
  autonomy either under remote control by a human
  operator or autonomously by onboard computers.

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U.S. Commercial Drone Market Volume Share, By
Application, 2016

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Industry Coverage
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Commercial Drone Industry By Applications

• Despite management of data being one of the major
  hindrances to the growth of this business space,
  the application matrix of the precision farming
  market has encompassed weather monitoring,
  financial management, field monitoring, waste
  management, yield monitoring, irrigation
  management. As the application scope of precision
  tools increases in the ensuing years, the
  precision farming market is projected to observe
  an exponential growth rate, with a target revenue
  estimation in excess of USD 10 billion by 2024.
• Weather monitoring applications will dominate the
  precision farming market during the forecast
  timeline as they provide key information related
  to important weather parameters such as moisture
  levels, relative humidity levels, rainfall and
  wind directions. Unlike other industries, farm
  production is most affected by weather conditions
  and hence, the adoption of these solutions for
  effective weather monitoring will witness
  consistent growth over the forecast period.

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Commercial Drone Industry By Applications

• The agriculture industry has emerged as one of
  the major end-users in the commercial UAV market.
  They are used for a wide range of applications
  such as planting, soil and field analysis, crop
  monitoring, health assessment, crop spraying and
  irrigation in the complete crop cycle. Other use
  cases include producing a precise 3D map for soil
  analysis, which can guide in planning of seed
  planting patterns. A drone-driven method of soil
  analysis offers data for nitrogen level and
  irrigation management, which is also estimated to
  be a major factor driving the commercial UAV
  market demand.
• Aerial photography is one of the most common
  application areas. The growth of the commercial
  UAV market is attributed to the increasing
  adoption in the media and entertainment industry
  for photography and filming. They are highly
  useful in reporting events for capturing footage
  for news and broadcast. For instance, BBC is
  using drones for capturing footage in sports
  competitions and has its own in-house drone team.
  Furthermore, the growing applicability in
  wildlife photography is also augmenting the
  demand of the UAVs for aerial photography
  applications.

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Precision Farming Industry By Region

• Asia Pacific is estimated to gain substantial
  growth during the forecast period owing to the
  rapid increase in awareness for civilian drone
  applications and relaxation by government for the
  use of UAVs for commercial purposes. Furthermore,
  the presence of substantial number of drones
  manufacturers in the region, especially in China,
  such as DJI and Xiaomi, is also estimated to be
  drive the growth of the commercial UAV market.
  The market is also aided by adoption of drones by
  the customers and enterprises in fields such as
  agriculture, retail, and construction.

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Competitive Precision Farming Industry Share

• The major vendors in the commercial UAV market
  are 3D Robotics, Airobotics, AeroVironment,
  Airware, Amazon Prime Air, Bae Systems, Cyberhawk
  Innovations Ltd., DroneDeploy, DJI, Ehang Inc,
  Hoverfly Technologies, Intel Corporation, Parrot,
  PrecisionHawk, senseFly, and Yuneec
  International. These players are leveraging on
  the various strategies such as product launch,
  and strategic alliance to enhance their product
  portfolio and gain market share. For instance, In
  January 2017, DJI acquired Hasselblad, a Swedish
  camera company. The acquisition will strengthen
  DJIs presence in high-end camera drones
  landscape by combining DJIs aerial drone
  technology with Hasselblads cameras.

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Market research reports Key analytical components
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Market Insight Coverage
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Report Content
Chapter 1.   Methodology Scope 1.1. 
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Scope, definition and research
parameters 1.2.  Data Sources 1.2.1.
Primary 1.2.2. Secondary Chapter 2.   Executive
Summary 2.1.  Commercial drone industry 360º
synopsis, 2013 - 2024 2.1.1. Business
trends 2.1.2. Regional trends 2.1.3. Type
trends 2.1.4. Mode of operations trends 2.1.5.
Application trends
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