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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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.”
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;
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.
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To view the original version on The Express Wire visit Commercial Drone Market – How to Leverage on Automotive Industry During COVID-19 Crisis?