Commercial Drone Market 2024 | Global Outlook by Product, Mode of Operation and Application

The agriculture industry is expected to help commercial drone market share accrue commendable proceeds by the end of the forecast period

Over the recent years, the commercial drone market has garnered immense popularity owing to the substantial increase in civil applications of unmanned aerial vehicles. It is quite a well-known fact that the commercial utilization of unmanned aerial vehicles has been steadily rising since the early 1980s. However, a significant increase in investments and the relaxation of some regulatory norms across the globe have opened up an array of practical applications of drones across numerous business domains. This has, in consequence, acted as a pivotal factor in propelling the commercial drone market share in the recent times. In fact, as per a research report by Global Market Insights, Inc., the global commercial drone/UAV industry commanded a total valuation of over USD 2 billion in the year 2016.

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Despite growing traction across industries, stringent government regulations on the use of commercial UAVs owing to privacy and security purposes could impact market share over the forecast period. Commercial drones can sometimes be misused by criminals and hackers who have prior tried to intercept, manipulate or jam drone controls for exploitation. Aspects such as these will most likely affect commercial drone market outlook in the forecast years.

Agriculture sector is the most lucrative market for commercial UAVs market space. As the benefits of drones are becoming more apparent to farmers, their adoption is increasing for different agricultural applications to facilitate higher precision and consistency. The relatively low price of the UAVs with advanced imaging capabilities and sensors are enabling farmers to increase their yields and reduce cost of production. Players operating in the agriculture and digital farming market are developing modern agriculture focused drones with sophisticated precision and accuracy.

For instance, in February 2017, Drone AG, a drone-assisted precision farming firm, entered into a partnership with Aerobotics, a South African data analytics firm, to provide weather-proof agricultural drones along with a cloud-based farm management software. These drones use high-end DJI components and can quickly cover large areas even in adverse weather situations.

Based on product type, the rotary blade drone market has witness immense traction lately. The demand is mostly observed for single and multi-rotor drones that can be used across wide range of commercial applications. Its advanced rotor mechanism gives it an edge over fixed wing drone and enables it to offer better flight controllability. Moreover, the product’s superior design makes it an ideal choice for applications like mapping, surveillance, photography, and monitoring. Rotary blade drone also widely used to deliver package due to its higher payloads bearing capacity and enhanced precision control.

In terms of application, the agriculture industry is expected to help commercial drone market share accrue commendable proceeds by the end of the forecast period. Drones are used across agricultural landscapes for conducting operations like soil, plant and field analysis, and for crop monitoring, spraying and irrigation.

According to regional trends, North America has been the dominant geography augmenting the global commercial drone market share, owing to increasing adoption and demand for high-definition camera-based drones for filming, video and aerial photography. The permission to use UAVs for commercial applications by the FAA is also estimated to significantly contribute towards the industry’s growth in the region.

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Moreover, supportive federal initiatives could further help boost demand in commercial drone market. For instance, in 2017, the U.S. government launched a program to enhance testing of commercial drones to conduct night operations and flights beyond the VLOS. The program is claimed to accelerate the integration of UAVs into the NAS and to pilot UAVs detection and tracking, along with eliminating a few limits on its utilization.

Initiatives like these could positively impact growth prospects of the commercial drone market in North America. Moreover, presence of a large number of industry partakers like Aeryon Labs, PrecisionHawk and 3D Robotics could lead to way to new advancements and investments in the North America market over the coming years.

Some Points From Table Of Content: -

Chapter 7. Global Commercial Drone Market, By Application
7.1. Global commercial drone market share by application, 2013 - 2024
7.2. Aerial photography
7.2.1. Market estimates and forecast, 2013 - 2024
7.2.2. Market estimates and forecast by region 2013 - 2024
7.3. Agriculture
7.3.1. Market estimates and forecast, 2013 - 2024
7.3.2. Market estimates and forecast by region 2013 - 2024
7.4. Emergency management
7.5. Inspection & monitoring
7.6. Remote sensing & mapping
7.7. Wildlife research & preservation
7.8. Others

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