The
industry research outlook “Unmanned Aerial Vehicles
(UAV)/Commercial Drone Market Size By Product (Rotary Blade, Fixed
Wing, Nano Drone, Hybrid), By Application (Government, Media &
Entertainment, Agriculture, Energy), Industry Outlook Report, Regional
Analysis, Application Development, Price Trends, Competitive Market Share &
Forecast, 2016 – 2023”,
Unmanned Aerial Vehicles or Commercial Drone market size will grow lucratively,
owing to the huge investments in drones by emerging economies over the coming
years of 2016 to 2023. Moreover, extensive applications across end-use
industries such as real estate, media & entertainment, e-commerce, etc.
will further enhance the UAV industry outlook over the next few years. As per Global Market Insights, Inc., “Global commercial drone market will
witness a growth rate of more than 19% over the period of 2016-2023.”
The growing initiatives regarding internet
connectivity in remote areas will noticeably influence the demand for unmanned
aerial vehicles. Furthermore, escalating interest by e-commerce giants for
spreading business and the law enforcement activity by the government will
significantly stimulate the unmanned aerial vehicles industry size. In
addition, drones are also being widely used for traffic management, congestion
analysis, and crime scene investigation. The evolving aerial imaging industry
has also witnessed heavy demand for drones, attributed to its applications in
capturing aerial shots.
Rotary blade UAVs are projected to dominate the commercial drone product
landscape
UAV product market is primarily driven by
rotary blade followed by nano drone, hybrid, and fixed wing drones. Rotary
blade commercial drone industry share will exhibit an annual growth rate of
over 19.5% over the coming six years. The features like multi-directional
flying capability and fixed position hovering property will be the attributing
factors for the rising product demand. Nano drone market accounted for 7% of
total market share in 2015, and is predicted to collect a revenue of USD 145
million by 2023, owing to its effective implementation in security & aerial
photography activities and portability.
Government sector is estimated to lead the UAV application landscape
On account of commercial drone applications,
government sector accounted for 40% of the overall unmanned aerial vehicles
market share in 2015 and is expected to continue its dominance over all other
applications like agriculture, media & entertainment, and energy over the
coming six years. The growing importance of the UAV for rescue missions,
scientific research, outdoor public events, mapping, traffic accident
investigation, etc. will propel government application, which is anticipated to
register a CAGR of over 18% over the period of 2016 to 2023.
UAVs are mostly used to recreate, image, and
analyze the crops to measure quality, water holding capacities, and mineral
content of the soil. Additionally, it helps farmers to monitor crop growth. The
aforementioned factors will generate triple digit revenue for agriculture
application, which is projected to grow at a rate of 21.2% over the coming
years of 2016 to 2023.
Considering the global aspects, North America
unmanned aerial vehicles market will dominate the worldwide industry share. The
growing demand across end-use areas coupled with high production will drive
North America commercial drone industry share, which will witness a revenue of
USD 1 billion by 2023. U.S will be the major revenue pocket for the North
America UAV industry. Asia pacific UAV market size surpassed a revenue of USD 120
million in 2015 and is anticipated to grow at a rate of more than 20% over the
coming six years. The growth can be attributed to the increasing usage of drone
for agriculture applications.
AeroVironment, Denel Dynamics, Dà-Ji?ng
Innovations Science and Technology Co., Ltd, Aurora Flight Sciences, Challis
Heliplane UAV Inc., Draganfly Innovations Inc, and BAE Systems are some of the
key players in the commercial drone market. Other well-known industry
participants include Prox Dynamics, Boeing, Northrop Grumman, and Lockheed
Martin.
Browse key industry insights spread across
100 pages with 49 market data tables & 42 figures & charts from this
2017 report Unmanned Aerial Vehicles
(UAV)/Commercial Drone Market in detail along with the table of contents:
Global Market Insights has segmented
the commercial drone/UAV (Unmanned Aerial Vehicles) industry on the basis of
product, application, and region:
- Commercial Drone Product Analysis (Revenue, USD
Million, 2012 – 2023)
- Fixed wing
- Rotary blade
- Nano
- Hybrid
- Commercial Drone Application Analysis (Revenue, USD
Million, 2012 – 2023)
- Agriculture
- Energy
- Government
- Media & Entertainment
- Others
- Commercial Drone Regional Analysis (Revenue, USD
Million, 2012 – 2023)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- Latin America
- MEA
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