Commercial Drone Market to Grow due to Increasing Adoption of Drone for Commercial Applications

Increasing demand for drones due to their versatile applications and enhanced technologies in drones are driving the Global Commercial Drone Market.

According to the TechSci Research report, "Commercial Drone Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028F" the Global Commercial Drone market is anticipated to surge in the upcoming years. The increased use of small drones in commercial applications and advancement in drone technologies is driving the growth of Global Commercial Drone market. The UAV is an aircraft that does not have a pilot on board. They can be controlled or flown autonomously based on pre-programmed flight plans. They provide 24-hour security and inspection of utility guidelines with high accuracy and cost-effectiveness. Recent advancements in the Global commercial drone market include UAV adoption by the military, consumer goods, transportation, and agriculture industries. The solo smart drone, with built-in safeguards, compliance technology, sensors, and self-monitoring, is the next-generation drone that will bring new opportunities to the market.

Drones are aircraft that can fly autonomously using an embedded program or that can be remotely operated from the ground by a pilot. Commercial drones are unmanned aerial vehicles designed for commercial applications such as risk mitigation, resource planning, research and excavation, urban planning, engineering, farming management, tourism, aerial imaging, LiDAR applications, cargo management, weather monitoring, traffic control, green mapping, and others. Several industries, including agriculture and the environment, media and entertainment, energy, government, and others, use these applications as business solutions.

Commercial drones are making inroads into the trade industry, fueling market growth, for example, delivering small parcels to hospitals in third-world countries. Along with Google, Amazon and Walmart are testing a possible customer package delivery service. Toy drones (DJI Phantom4), AirDog drones, and 3DRSolo Drone by 3D Robotics are among the other innovations. Drones or unmanned aerial vehicles (UAVs are useful for 3D mapping site, construction site inspections, and building surveys in the construction industry.

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The Global Commercial Drone Market is segmented by application, system, technology, type, payload, region and competitive landscape. Based on Application the market is segmented into delivery & logistics, filming & photography, inspection & maintenance, horticulture & agriculture, mapping & surveying. Based on the system, the market is segmented into hardware and software. The hardware industry is expected to have the largest market share. The growing use of drones for commercial applications such as pipeline inspection, aerial photography, surveillance, and wildlife monitoring is expected to drive the segment's growth. Based on the technology, the market is divided into fully autonomous, semi-autonomous and remotely controlled. The fully autonomous segment is expected to grow faster. The growing demand for drones that can fly beyond visual line of sight (BVLOS) is expected to fuel the growth of the fully autonomous segment. Based on the type of commercial drone, the market is divided into fixed wing, rotary blade and hybrid. Fixed Wing Drones are expected to account for the largest market share due to their preference for larger areas such as topographic surveys, aerial mapping, and terrain modelling, as well as their ability to fly at high altitudes for longer periods of time. Based on the payload, the market is segmented into <5kg, 5-25kg, 26-50kg, 51-100kg, Above 100kg.

Some of the major players operating in the Global Commercial Drone Market include:

• SZ DJI technologies Co, Ltd
• Parrot Drone SA
• AeroVironment, Inc.
• Holy Stone
• Teal Drones Inc.
• Skydio, Inc,
• Delair,
• Insitu, Inc.,
• Yuneec Holding Ltd
• AgEagle Aerial Systems Inc.

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“Many companies are investing in research and development of commercial drones to have a competitive edge over others. Modern innovations such as machine learning (MI) and artificial intelligence (AI) are being integrated to significantly expand the commercial drone sector. The technological advancements and versatile operational usage of commercial drones will provide huge opportunities for the market to grow in the upcoming years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Commercial Drone Market -Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Application (Delivery & Logistics, Filming & Photography, Inspection & Maintenance, Horticulture & Agriculture, Mapping & Surveying), By system (Hardware, Software), By Technology (Fully Autonomous, Semi-autonomous and Remotely controlled), By Type (Fixed Wing, Rotary Blade and Hybrid), By Payload (<5kg, 5-25kg, 26-50kg, 51-100kg, Above 100kg), By Region,” has evaluated the future growth potential of Global Commercial Drone Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Commercial Drone Market.

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