Global Commercial Drones Market Offering Trends, Share, Size, Growth until the End of 2025

Posted on 2018-04-11 by Mark Hub in Technology // 0 Comments

Albany, USA, 2018-Apr-11 — /EPR Network/ —In order to study the various trends and patterns prevailing in the overall market for Study on Commercial Drones, Market Research Reports Search Engine (MRRSE) has included a new report titled “Commercial Drones Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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The global commercial drones market has been foretold to hold a significantly consolidated characteristic as only two companies, viz. DJI and Parrot S.A. secured close to a 75.0% aggregate share in 2016. One of the prominent business strategies adopted by companies to collect a sizable share in the market could be to manufacture drones with advanced functionality and constantly enhance their technological aspects to draw more customers. Companies have also been focusing on improving the landing capabilities of commercial drones and their image quality. A report by MRRSE has spoken more about the nature of the vendor landscape and future competitive scenarios.

The global commercial drones market has been anticipated by MRRSE to rise at a 13.8% CAGR during the forecast tenure 2017-2025. In 2016, it bagged a revenue of US$2.8 bn. However, by 2025, the revenue could increase to an US$8.8 bn. In terms of a segmentation by application, the market could witness the dominance of aerial photography until the end of the forecast tenure. In 2016, this application segment grabbed a larger share of 25.0%. On the basis of a regional segmentation, North America has been foreseen to attain a king’s share in the near future, continuing from its 35.0% share achieved in 2016.

Rising Requirement of Better Quality Images Brings Enhanced Versions to Market

Since the past few years, there has been a growing application of commercial drones for various purposes such as surveillance, aerial photography, and precision agriculture. The increasing usage of the latest editions of commercial drones has found them important applications in other end-use industries as well. End users receive improved and high-quality videos and images with the use of the latest features of commercial drones. The consumer electronics market has testified the inclusion of a variety of improved video and image formats supporting televisions and smartphones due to the rise of a number of technological developments in the recent years.

Manufacturers have been encouraged to develop improved editions of current commercial drones with better features and characteristics because of the escalating requirement of high-quality images. Furthermore, the increase in market competition and the number of products available in the industry has upped the expectations of players when it comes to growth.

Privacy Issues Deter Growth of Spying Drones with Increasing Government Regulations

The increase in privacy concerns raised by consumers has caused a significant count of commercial drones to be prohibited for use in certain locations. Moreover, there has been a rise in government regulations regarding the usage of commercial drones, considering their capability to capture private activities. The growth of the international commercial drones market has been predicted to be adversely affected due to the illegal use of spying models.

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Nonetheless, the international commercial drones market has been prognosticated to retain growth on the back of a swelling usage in developed economies. Additionally, human errors that arise out of site designs have been worked upon by several manufacturers. The market could receive a strong boost in its growth due to the increasing application of commercial drones for delivering and transporting purposes.

Global Commercial Drones Market: Key Segments

The global market for commercial drones has been segmented by types, application and geography. In terms of types the commercial drones can be categorized into single rotor, multi-rotor, fixed winged and hybrid drones among others. By application, the market has been segregated into precision agriculture, aerial photography, surveillance, survey mapping and energy among other applications. In terms of geography, the global market has been segmented into five strategic locations: North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The commercial drones market is facing intense competition from major players. These players are undergoing frequent mergers and acquisition from major players in order to sustain in the competitive environment. This report also studies the competitive environment of the major players in the form of market share of the key players. The key players have been profiled in terms of their business overview, financial overview, SWOT analysis and strategies adopted by them. The leading players included in the study are Parrot S.A., Aurora Flight, Denel SOC Ltd., DJI Innovations, Draganfly, Northrop Grumman Corporation, Lockheed Martin Corporation, Elbit Systems Ltd. and General Dynamics Corporation.

The global Commercial Drones market can be segmented as follows;-

Global Commercial Drones Market, By Types

Multi-rotor drones
Single rotor drones
Fixed winged drones
Hybrid drones
Others

Global Commercial Drones Market, By Application

Precision Agriculture
Aerial Photography
Surveillance
Survey Mapping
Energy
Others

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