The global commercial
UAV market size is expected to reach USD 2.07 billion by 2022,
according to a new study by Grand View Research, Inc.
Increasing applications in agriculture and law
enforcement are expected to drive the commercial UAV industry growth over the
forecast period. Commercial drones are finding applications across various
industry verticals globally. Every industrialized country in the world is
making investments in drones, thus driving the scope and technological
developments for applications in the commercial UAV market.
Drones are contemporary alternatives for activities,
where human life cannot be risked. Such drones find applications in various
industrial verticals including military, homeland security, retail, and
agriculture. The demand is significantly higher for military applications,
although commercial applications are progressively catching up.
Aviation regulatory bodies such as the Federal Aviation
Administration (FAA) have imposed restrictions on the use of such drones taking
into consideration the difficulties in managing such huge air traffic and the
safety of the citizens. However, the FAA is known to be undertaking an
initiative to accelerate the UAV approval process for public safety agencies
and broaden access to civilian organizations for a variety of commercial,
industrial, and other applications.
Browse full research report on Commercial UAV Market: https://www.grandviewresearch.com/industry-analysis/commercial-uav-market
Further
key findings from the study suggest:
- Rotary blade drones accounted for over 70% of the global market
share owing to their easy maneuverability and compact design. Moreover,
such single and multi-rotor drones equipped with rotary blades have
Vertical Take-Off and Landing (VTOL) abilities for applications, where
there is limitation of space for fixed blade drones to take off. The
development of advanced hybrid UAVs that operate on non-conventional
sources of energy and nano, small miniature drones serve multiple
applications across various industry verticals.
- Government applications dominated the global commercial UAV
industry constituting over 40% of the market share in 2014. Increasing
applications in law enforcement, security and surveillance, R&D
activities, infrastructure, disaster management, and environmental studies
have led to an increased demand for such unmanned aerial vehicles from the
concerned government agencies. Innovative applications across agricultural
sector have made it the fastest growing application segment, which is
projected to grow at a CAGR of over 18% from 2015 to 2022. Special
agricultural drones can take snapshots of fields and help in analyzing
crops. In addition, fix winged drones can be used for applications such as
watering, spreading seeds, fertilizers, and pesticides over large farm
fields that drastically reduce the time required and increase the
efficiency.
- North America is expected to grow at a CAGR of over 16% over the
forecast period on account of concentration of major drone manufacturers
and increasing applications in the commercial sectors in the region.
Governments and technology giants across the world are striving hard to
provide internet to the people as a basic necessity. Facebook Inc.
recently acquired Ascenta, a drone manufacturer for its pilot project to
provide internet in remote areas using drones as movable wireless access
points. Relaxation in regulations and increasing use of drones in law
enforcement activities in Europe have led to the regional industry growth.
- Major industry participants include AeroVironment Inc., BAE
Systems, DJI, Elbit Systems, Parrot SA, Israel Aerospace Industries, The
Boeing Company, and Textron Inc. Manufacturers resort to mergers and
acquisitions as their key growth strategy to make their presence felt in
the industry. Augmented funding, technological collaborations, and
government agencies are expected to emerge as critical success factors for
industry growth.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand
View Research has segmented the global commercial UAV market on the basis of
product, application, and region:
Commercial
UAV Product Outlook (Revenue, USD Billion, 2012 - 2022)
- Fixed wing
- Rotary blade
- Nano
- Hybrid
Commercial
UAV Application Outlook (Revenue, USD Billion, 2012 - 2022)
- Agriculture
- Energy
- Government
- Media &
Entertainment
- Others
Commercial
UAV Regional Outlook (Revenue, USD Billion, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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