Unmanned Aerial Vehicle Market 2024: Trends and Growth, Segmentation and Key Companies: Global Market Insights Inc. 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. With an ever-growing adoption of commercial drones, it implies great affordability for businesses and operators. Furthermore, manufacturing techniques of computer chips, economies of scale, and software advances are driving the cost of drone sensors and platforms and solutions. 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.
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 ground1|Page
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.
Precision Farming 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. U.S. Commercial Drone Market Volume Share, By Application, 2016
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 2|Page
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.
Commercial Drone 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 drone’s 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.
Competitive Commercial Drone 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 DJI’s presence in high-end camera drones landscape by combining DJI’s aerial drone technology with Hasselblad’s cameras. For more information browse ToC @ https://www.gminsights.com/toc/detail/unmanned-aerialvehicles-UAV-commercial-drone-market
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Commercial Drone Industry Background:
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Report Content of Commercial Drone Market:
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 360ยบ 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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