Commercial Drone Market to Grow at CAGR 27% till 2021
Improving regulatory framework and increasing number of
exemptions being granted for expanding applications for drones to drive
commercial drone market over next five years
According to
TechSci Research report, “Global
Commercial Drone Market By Drone Type, By Application, By Region, Competition
Forecast and Opportunities, 2011-2021”, rotary blade drone segment
dominated the global commercial drone market in 2015, on account of its various
technical features and benefits that enable these drones to perform intensely
in photography, mapping, oil & gas sector and mining industry. Moreover,
continuing growth of the global
mining market, which was valued at around USD1.5 trillion in 2015 and is
projected to grow at a CAGR of over 7% during 2016-2021, is expected to further
boost the prospects of commercial utilization of drones in the mining sector over
the next five years. Rotary blade drones are designed to fly in all directions
as well as hover at a fixed position. In 2015, these drone types accounted for
a market share of over 75% in the global commercial drone market, due to their versatility
and increasing application areas. Commercial drone market is projected to grow
at a CAGR of 27% till 2021, with North America anticipated to continue its dominance
as the largest commercial drone market through 2021.
Browse 17 market
data Tables and 53 Figures spread through 250 Pages and an
in-depth TOC on "Global Commercial Drone Market"
http://www.techsciresearch.com/report/global-commercial-drone-market-by-drone-type-rotary-blade-drone-fix-wing-drone-hybrid-drone-nano-drone-by-application-mapping-surveying-photography-precision-agriculture-etc-by-region-competition-forecast-opportunities-2015-2021/666.html
Fix wing drone is
the other major drone type, and these drones are being widely used in precision
agriculture and aerial mapping. Precision
farming utilizes several technological advancements such as geo location
tracking, data management, and crop health analysis in order to ensure better
productivity as compared to conventional farming methodology. Higher
profitability and productivity, coupled with expanding global demand for crop
yield are few of the factors poised to drive the global precision agriculture
market at a CAGR of over 11% during 2016-2021, thereby propelling demand for
drones used in the precision agriculture industry.
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In 2016, the
global commercial drone market is anticipated to witness commercialization of nano
drones and hybrid drones, which would use fuel cell technology for increasing fly
time. Several prominent drone manufacturing companies such as DJI, Parrot, 3D
Robotics, PrecisionHawk, Trimble, AeroVironment, etc., intend to expand their
production capacities considering the anticipated growth in the global commercial
drone market over the next five years.
“Expanding
applications of drones in various commercial applications, rapidly growing approvals
being provided to drone companies by the regulatory authorities such as FAA, coupled
with increasing investments in drone companies are few of the major reasons
poised to drive the global commercial drone market over the next five years. Amongst
the four categories of drones, the rotary blade drone segment is forecast to
hold its position as an undisputed leader over the next five years.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Commercial Drone Market By Drone Type, By Application, By Region, Competition
Forecast and Opportunities, 2011-2021” has evaluated the future growth
potential of commercial drone market at global level and provides statistics
and information on market structure, drone applications, policies and
regulations in the global commercial drone market. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyses emerging
trends along with essential drivers, challenges and opportunities available in
global commercial drone market.
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