ALBANY, New York, March 27, 2017 /PRNewswire/ --
The global commercial drones market is dominated by DJI and
Parrot S.A. These companies together account for over 75% of the
market, finds Transparency Market Research (TMR) in a new study.
Among these companies, DJI has emerged as the market leader in
terms of revenue as it has an extensive product portfolio ranging
from consumer to professional drones. Likewise, Parrot S.A. has
gained considerable traction in the last few years. The companies
especially focus on developing advanced drones with improved
landing capabilities. Aurora Flight,
Denel SOC Ltd., Draganfly, and Northrop Grumman Corporation are
among other companies with strong foothold in the global commercial
drones market.
TMR forecasts the market to exhibit a CAGR of 13.8% between 2017
and 2025. At this pace, the market's valuation is expected to reach
US$8.89 bn by the end of 2025, from
US$2.8 bn in 2016. By type, the
global commercial drones market can be segmented into multi-rotor,
single rotor, fixed wing, hybrid, and others. Of these, the
multi-rotor segment emerged dominant with a share of 33.2% in 2016.
Regionally, North America,
Latin America, Europe, Asia
Pacific, and the Middle
East and Africa constitute
the key market segments. Of these, North
America held the dominant share of 35% in the overall market
in 2016.
Increasing Application across Diverse
Sectors to Fuel Demand for Commercial Drones
Commercial drones provide better video and resolution, which is
a chief factor fuelling their demand worldwide. With the recent
advances in technology, consumers expect similar features in
commercial drones and this has steered many innovations. Given the
scenario, the market is forecast to witness accelerated pace of
gains in the coming years. Moreover, the prices of components used
in manufacturing drones are prophesized to fall in the coming
years. This will enable the market players to maintain competitive
pricing, thus creating lucrative opportunities for growth.
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Besides this, manufacturers are experimenting with virtual and
augmented reality technologies and how integrating same with drones
can improve its performance further. The feature of flying drone
through augmented reality has fuelled the demand for commercial
drones globally. Commercial drones have already become a
contemporary medium of delivery. With such advancement on cards
soon they will replace traditional delivery boys. Besides this,
considering their advanced features, commercial drones are
increasingly used in the media and entertainment industry. The
demand for video and photographs captured using commercial drones
has risen, thus creating lucrative market opportunities.
Furthermore, the market is expected to gain from the increasing
use of commercial drones in data generation. The rising usage of
drones in defense application will gain traction for the market as
well. In the defense sector, drones are used for surveillance,
search and rescue missions, disaster impact estimation, battlefield
management, and air sampling. These factors are expected to give
the market a significant boost in the coming years.
Privacy Concerns Associated with
Flying Commercial Drones Could Restraint Market
On the downside, use of commercial drones has raised many
privacy concerns, which are restraining the market's trajectory to
an extent. As drones flying overhead can capture private
activities, their use is restricted across several sectors.
Moreover, drones can be used to stalk a person. These concerns can
limit the market's scope for expansion in the coming years.
Nevertheless, the rising adoption of drones in developing countries
provides highly lucrative opportunities for the market's expansion
in the coming years.
Get more information from Research Report Press
Release: http://www.transparencymarketresearch.com/pressrelease/commercial-drones-market.htm
This review is based on a TMR study, titled "Commercial Drones
Market (Types - Multi-rotor, Single Rotor, Fixed Winged, and
Hybrid; Application - Precision Agriculture, Aerial Photography,
Surveillance, Survey Mapping, and Energy) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2017 -
2025."
The report segments the global
commercial drones market as:
Global Commercial Drones Market, By Types
- Multi-rotor drones
- Single rotor drones
- Fixed winged drones
- Hybrid drones
- Others
Global Commercial Drones Market, By Application
- Precision Agriculture
- Aerial Photography
- Surveillance
- Survey Mapping
- Energy
- Others
Global Commercial Drones Market, By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East &
Africa
- Latin America
- Brazil
- Rest of Latin America
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