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.
 |
U.S. commercial UAV market by application, 2012-2022, (USD Million)
|
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: www.grandviewresearch.com/industry-analysis/commercial-uav-market
Further
key findings from the report 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: 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
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/commercial-uav-market-anaylisis
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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