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.
View
summary of this report @ http://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 All Reports of
this category @ http://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
- Agriculture
- Energy
- Government
- Media & Entertainment
- Others
- 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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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