Global Commercial Drones Market By Drone Type (Rotary Blade Drones, Fixed Wing Drones, Hybrid Drones, Others), Offering (Software & Services, Hardware), Application (Government & Defense, Agriculture & Environmental, Energy, Media & Entertainment, Construction & Archaeology, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Commercial Drones Market
Global Commercial Drones Market is expected to rise from its initial estimated value of USD 3.96 billion in 2018, to a projected value of USD 17.04 billion by 2026, registering a CAGR of 20% in the forecast period of 2019-2026. This rise in market value can be attributed to growth in the technological offerings resulting in advanced and innovative products.
Market Definition: Global Commercial Drones Market
Commercial drones are unmanned aerial vehicle that have been equipped with the capability of visual imaging capturing and recording devices and equipments, as these drones are used for capturing images and recording videos of various terrains. The usage of drones has increased significantly due to its benefits associated with capturing and reaching places with ease and providing improved visual aids.
- Increasing adoption of commercial drones for a number of end-use applications, majorly from the agricultural segment for the visualization and analysis of land area is expected to act as a driver for the market growth
- Increased levels of investments and research activities associated with commercial drones from private and government sources; this factor is expected to act as a driver for the market growth
- Availability of substitutes to drones such as satellites and other imaging alternatives are factors expected to restrain the market growth
- High cost of drones and requirement of high capital investments for the maintenance of these drones; this factor is expected to restrain the market growth
Segmentation: Global Commercial Drones Market
- By Drone Type
- Rotary Blade Drones
- Multi-Rotor Drones
- Single Rotor Drones
- Fixed Wing Drones
- Hybrid Drones
- By Offering
- Software & Services
- By Application
- Government & Defense
- Agriculture & Environmental
- Media & Entertainment
- Construction & Archaeology
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In June 2018, GE Ventures announced the launch of a startup based out of Boston, United States named AiRXOS. With the company focused on providing commercial drone software and product solutions to the consumers and industries. The startup is a joint venture between two of GE’s business divisions, GE Business Innovations and GE Aviation.
- In August 2017, 3D Robotics and DJI announced that they had collaborated to integrate 3D Robotics’ Site Scan software for drones compatible with DJI’s drones. This venture will help in providing consumers the best that both the organizations can offer.
Competitive Analysis: Global Commercial Drones Market
Global commercial drones market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of commercial drones market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players: Global Commercial Drones Market
3D Robotics; DJI; Aeryon Labs Inc.; Parrot Drones SAS; Aurora Flight Sciences; Denel SOC Ltd; Draganfly Innovations Inc.; Northrop Grumman Corporation; Lockheed Martin Corporation; Elbit Systems Ltd.; General Dynamics Corporation; AeroVironment, Inc.; Leptron Unmanned Aircraft Systems, Inc.; PrecisionHawk; YUNEEC; Trimble Inc.; INSITU; senseFly; Xiaomi; Sentera, Inc.; AiRXOS, a GE venture; QUADROCOPTER; Identified Technologies are few of the major competitors currently present in the market.
Research Methodology: Global Commercial Drones Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved