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May 21, 2020 6:49 PM ET

Commercial Drone Market - How to Leverage on Automotive Industry During COVID-19 Crisis?

Commercial Drone Market - How to Leverage on Automotive Industry During COVID-19 Crisis?

iCrowd Newswire - May 21, 2020

Key Companies Covered are DJI, Parrot Drones SAS, AeroVironment, Inc., 3DR, Airbus S.A.S., YUNEEC, EHANG, Kespry, INSITU, Delair, AguaDrone, Autel Robotics USA, and Other reputed companies included in Commercial Drones Market Research Report

The global Commercial Drone Marketis set to gain traction from their increasing use in different industries, namely, Infrastructure, Transport and Delivery, Insurance, Media, Telecommunication, Agriculture, Security, and Mining. Additionally, introduction to various technologies, such as wireless communication, GNSS, satellite communications, RADAR/LiDar, and GPS, would affect the market positively.


Fortune Business Insights™published the above information in a recent study, titled,“Commercial Drones Market Size, Share and Industry Analysis, By Product (Fixed Wing Drone, Rotary Blade Drone, and Hybrid Drone), By Technology (Remotely Operated, Semi-Autonomous, and Autonomous), By System (UAV Structure, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Industry (Infrastructure, Transport and Delivery, Insurance, Media, Telecommunication, Agriculture, Security, and Mining) and Regional Forecast, 2019-2026.”As per the study, the Commercial Drone Market size is projected to reachUSD 6.30 billion by 2026, at aCAGR of 23.37%during the forecast period. However, it stood atUSD 1.20 billion in 2018.


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Growth Driver:


Rising Technological Advancements to Boost Growth


Nowadays, the demand for commercial UAVs is upsurging. It is resulting in the persistent creation of technologically advanced drones. Several prominent manufacturers are also investing huge sums in research and development activities to launch unique products. As per one of our lead analysts, “Industry giants, such as AeroVironment, 3D Robotics, and DJI are accelerating the commercial unmanned aerial vehicle (UAV) market growth by introducing innovative drones. Some of the novel technologies consist of automation, artificial intelligence, and robotics.”


Regional Analysis:


North America to Dominate Backed by High Demand for Drones for Security Purposes


In terms of region, the market is fragmented into Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America. Amongst these, North America held USD 711.9 million Commercial Drone Market revenue in 2018 and is set to remain in the dominating position throughout the forecast period. This growth is attributable to the upsurging usage of drones for security and recreational purposes, engineering projects, and surveying and mapping applications in countries such as Canada and the U.S. Besides, the U.S. Federal Aviation Administration (FAA) put forward a few changes in norms to deliver coherent guideline concerning the safe and legal operation of UAVs in commercial sector.


Asia Pacific, on the other hand, is anticipated to showcase considerable growth backed by high demand for unique and automated drones from Japan and China. They are used extensively in both countries to tackle the increasing labor cost. Europe is expected to experience steady growth in the coming years because of the increasing government interventions to promote the usage of drones for a wide range of industrial applications.


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List of key companies covered by Fortune Business Insights™ in commercial drones market research report are;
















Competitive Landscape:


Reputed Drone Manufacturers Engage in Strategic Collaborations to Strengthen Position


Numerous commercial drone companies present in the market are mainly focusing on partnering up with other enterprises to broaden their geographic presence and increase product portfolio. In addition to that, they are working persistently to gain maximum commercial UAV market share during the forthcoming years.


Below are a couple of key industry developments:





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About Us:


Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.


Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.


At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.


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Press Release Distributed by The Express Wire

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