The global civil drone market was valued at US$ 6.56 Bn in 2018 and is expected to reach US$ 21.61 Bn by 2027 with a CAGR growth rate of 14.3% in the forecast period from 2019 to 2027.
The spending on the civil drone is quite high in both developed and developing regions such as North America, Europe, and the Asia Pacific. The demand for the civil drone is expected to grow further during the forecast period of 2019 to 2027. Rising digitization and positive economic outlook are some of the major macroeconomic factors driving the growth of the civil drone market. The civil drone is turning more into the global business, and various large players can offer civil drone globally. Presently on a global scale, industry verticals such as agriculture, real estate/infrastructure, and energy & power are the major contributors in civil drone spending.
The global market for the civil drone is segmented into five major regions, including North America, Europe, Asia Pacific, Middle East, and Africa and South America. In 2018, North America held the leadership position in the civil drone market with a 33.3% share of the overall civil drone market. Asia Pacific and the Europe held the second and third position in terms of civil drone market share.
Download Sample PDF Brochure at: https://www.theinsightpartners.com/sample/TIPRE00003273/
The report enables you to-
Market Insights
Mining industry to ensure civil drones formidable growth rate
The mining industry, which has conventionally stayed away from the adoption of technological revolutions, is now banking on Industry 4.0 and allied technologies such as Analytics, Cloud, Artificial Intelligence (AI), and Internet of Things (IoT) to report a whole gamut of challenges. Macroeconomic factors such as economic downturn, stringent regulations, price volatility, supply-demand fluctuation, and environmental authorizations. Simultaneously, mining companies are also considering to overcome microeconomic factors related to safety, security, and hazardous mining conditions to ensure the health, of their workforce. Even though deep rooted drone implications are yet to gain the sustenance of the industry, many companies have started using civil drones to alleviate the risks rising out of hazardous working environments at the mines and production sites.
Leading Key Players:
Drone technology creating new opportunities for power and utilities sector, thus, expected to drive the civil drone market
The utilities and power industry/sector is on the verge of a digital revolution and faces numerous new challenges due to the increasing social pressure to shift to renewable energy sources from fossil fuels. Along with the shift from non-renewable to renewable energy sources, bringing energy prices down simultaneously, the energy sector is trying to find new sources to maintain profitability. Existing business models are being interrupted by the growth of the popularity of electric vehicles and decarbonized generation.
Together these trends are influencing how energy is distributed, produced, and consumed, and are compelling industry players to alter their business models. Technology development is aiding well-established innovations such as digital technologies and drones to be harnessed in order to improve the consistency of transmitting, producing, and distributing energy. Additionally, it is helping to augment cost efficiency and to streamline management and maintenance processes.
Make an Inquiry at: https://www.theinsightpartners.com/inquiry/TIPRE00003273/
Type Insights
The global civil drone market by type is segmented into fixed wing drone and rotary wing drone. The rotary wing drone segment dominates the civil drone market heavily and is projected to continue its dominance throughout the forecast period from 2019 – 2027.
Platform Insights
The civil drone market on the basis of platform is segmented into hardware, software, and services. An unmanned aerial vehicle typically consists an airframe and a system that integrates GPS, sensors, CPUs, and servos. All of these components are required for piloting the drone without any human intervention. The configuration, size, and type of the drones vary depending upon the application areas. The services include installation, maintenance, and upgrade services.
Application Insights
The civil drone market on the basis of application is segmented into aerial photography, surveying & mapping, inspection, and others. Others include surveillance & monitoring, education, and technical services. Aerial photography remains the prominent revenue generator throughout the forecast period. Further, surveying & mapping segment is anticipated to grow at the fastest rate.
GLOBAL CIVIL DRONE MARKET SEGMENTATION
Global Civil Drone Market – By Type
Global Civil Drone Market – By Platform
Global Civil Drone Market – By Application
Global Civil Drone Market – By End User