Europe Commercial Drone/Unmanned Aerial Vehicle (UAV) Market 2019 | Rising Growth, Business Analysis and 2024 Forecast Study

Europe Commercial Drone Market size in 2017 was estimated to be over 27 thousand units and is anticipated to grow at a CAGR of 24% with the market value of more than USD 500 million and is anticipated to grow at a CAGR of around 21% over 2024

According to the Graphical Research new growth forecast report titled “Europe Commercial Drone/Unmanned Aerial Vehicle (UAV) Market analysis based on Product, Technology, Application, Industry Analysis Report, Countries Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 2 billion by 2024. The advancements in the design and technology of UAVs are driving the market growth. The deployment of intelligence algorithms in UAVs is developing myriad opportunities and new avenues for the commercial use of drones. The decline in the prices of the drones over the past decade has also fueled its demand for commercial applications. Furthermore, the legalization and adoption of commercial drones in the market by government authorities have also brought many new valuable avenues for the business and usability in the market.

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Segments We Cover:

Europe Commercial Drone Market, By Product
Fixed Wing Drone
Rotary Wing Drone
Hybrid Drone

Europe Commercial Drone Market, By Technology
Remotely Operated Drone
Semi-autonomous Drone
Autonomous Drone

Europe Commercial Drone Market, By Application

Aerial photography
Emergency Management
Inspection & Monitoring
Remote Sensing & Mapping
Wildlife Research & Preservation

However, there are certain applications of the UAVs that are still in the testing phase. The safety and security issues associated with the use of UAVs are among the major factors hindering the market growth. Moreover, stringent government regulations related to the range and payloads are also among the major constraints in the market growth.

Emergency management has emerged as one of the most important applications of drones. This growth is attributed to advancements in the drone technology over the years such as artificial intelligence in drones, the advent of IoT-based drones, and high-resolution cameras.

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The UK is estimated to witness a gradual growth in the commercial drone market due to its stance in the development and testing of commercial applications of civilian drones. The country with the authorization of The Civil Aviation Authority (CAA) in 2016 relaxed some of its rules and regulations concerned with applications of UK drones for commercial trials after requests from Amazon to test its Prime Air delivery services. This even included the operation of vehicles beyond VLOS and the use of anti-collision technology.

The Europe commercial drone market consists of both multinational companies with a wide product portfolio and regional players or SMBs that offer niche products and services. Some of the major market players are DJI, Parrot, 3D Robotics, Yuneec International, Cyberhawk Innovations Ltd., Intel Corporation, and senseFly.

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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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Release ID: 88928007