Title: Global Commercial Drone Market 2024 Overview, Demands, Market Share and Growth Rate Analysis
1Unmanned Aerial Vehicle (UAV) Market By Product ,
Applications and Regional Outlook 2017-2024
Global Market Insights, Inc.
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2Commercial 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.
3Commercial 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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5U.S. Commercial Drone Market Volume Share, By
Application, 2016
6Industry Coverage
7Commercial 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.
8Commercial 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.
9Precision 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.
10Competitive 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.
11Market research reports Key analytical components
12Market Insight Coverage
13Report 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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