Commercial Drones Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023

2024-11-05 01:26:02 News & Society

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Commercial drones are unmanned aerial vehicles (UAVs) and are used for tasks such as law enforcement search, high altitude imaging, emergency response, flood mapping, photography, petroleum spill monitoring, humanitarian aid, and many other uses. Drones are also used for environmental monitoring and mapping, soil moisture imaging, in-situ atmospheric monitoring, aerosol source monitoring, internet connectivity, plume dispersion, and hyper spectral imaging. Commercial drones can be used for military use, delivering goods, surveying wildlife, surveying high risk situations, and for public service uses.

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Though there are many legal, technological, and regulatory barriers to be overcome, commercial drones are estimated to create approximately 70,000 job opportunities and thus enhance the U.S. economy over the next few years. High officials in the American government have spoken about global commercial drones market having a ?transformative role? in applications such as urban infrastructure, coastal security, farming, military training, disaster response, and search and rescue. Federal agencies have been given deadlines to draft guidelines related to privacy, safety, and economic issues regarding the use of commercial drones in the U.S.

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Law Enforcement and Commercial Applications Fueling Market

Commercial drones are also used in commercial applications. Law enforcement processes also require the use of commercial drones and this factor is fueling market growth. Drones have the capability of transferring videos and high resolution images in real time to base stations. Additionally, important technological innovations that include enhanced designs and improved data processing abilities have bolstered the growth prospects of the commercial drone market.

However, stringent government regulations related to safety and security are curbing the market for commercial drones. Another market hindrance for commercial drones is the dearth of air traffic management systems and scarcity of trained pilots. Nonetheless, market expansion is anticipated for commercial drones due to novel uses in law enforcement operations.

Segments of commercial drones based on product type are hybrid drones, nano drones, fixed wing drones, rotary blade drones, and others. On the basis of technology, the commercial drones market is segregated into collision avoidance systems, cyber-security and jamming, communication data links, automation systems, energy and propulsion systems, radio frequency spectrum capacity, and on-board data processing.

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Law Enforcement Application Expected to Have Largest Market Share

On the basis of application the commercial drone market is divided into agriculture, media and entertainment, infrastructure, law enforcement, scientific research, and energy and power. Law enforcement is expected to hold the largest market share in the next few years.

Commercial drones help alleviate risks of human involvement and help cut down on the cost and duration of operations. At present, commercial drones are available with innovative technology that includes highly accurate high-definition photos and videos of large expanses and from high altitudes. These state-of-the-art devices have potential uses in shipping, construction, movies and videography, real estate, oil and gas, agriculture, and many other industries.

The key market players for commercial drones are Trimble Uas, Hoovy Llc, Precision Hawk, Drone Deploy, 3D Robotics, Turkish Aerospace Industries, Inc., Finmeccaniaca Spa, Northrop Grumman Corporation, Lockheed Martin Corporation, Aurora Flight Sciences, Boeing Corporation, Thales Sa, Bae Systems Plc, Aerovironment Inc, Israel Aerospace Industries Ltd. (Iai), Textron Inc, Sensefly, Elbit Systems, Aeronautics Ltd., Safran Sa, Vdos Denel Soc Ltd., General Atomic Aeronautical Systems Ltd., Denel Soc Ltd. DJI, and Airware Inc., among others.

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