Commercial Drone Market By Product Type (Fixed wing, Rotary blade, Nano, Hybrid), By Application (Agriculture, Energy, Government, Media & Entertainment, Product Delivery & others), Industry Trends, Estimation & Forecast, 2016 - 2024

July 2017

 Pages: 154

 ERC 6640

Commercial Drone Market was valued at $1,002 million in 2016 and is expected to reach a market size of $3,551 Million by 2024, growing at a CAGR of 17.5% during the forecast period. In 2016, the government segment generated the highest revenue in the global commercial drone market.

Drones, also known as Unmanned Aerial Vehicles (UAVs), are operated by a control unit, which can either, be ground based or onboard. They are remotely controlled and are unpiloted aerial vehicles. These UAVs have applications in various sectors which are agriculture, government, media & entertainment, architecture, security, and others. Earlier, the demand for drones was just limited to military applications but now, commercial applications are also gradually catching up the pace. Technological advancement is leading to the commercialization and globalization of drones
An increase in the demand of commercial drones has been noticed in the present market scenario. It is a result of their versatile nature and extensive use in various fields such as aerial photography, cinematography, precision agriculture and safety & surveillance. The quality of images and video captured through drones are much better and descriptive which is a major driving factor for the commercial drone market. Moreover, the use of commercial drones in the field of precision agriculture is also increasing, resulting to the growth of the industry. However, there are a few factors which hinder the growth of the market. The extensive use of commercial drones has caused a rise in privacy concerns. This, as a result, has led to the reforms in government rules and regulation for the use of commercial drones which is expected to be a restraint for the growth of the market.
Ascending trend for high-quality video and image resolution capability of commercial drones is supposed to drive the market in future. Moreover, the increasing technological innovation has resulted in increasing the demand and expectation of customers for a product with similar features. Evolving services like inspecting power lines and pipelines, counting wildlife, delivering medical supplies to remote or otherwise inaccessible regions will be the future opportunities for the Commercial Drone Market.
The segmentation of Commercial Drone Market is based upon Type, Application, and Geography. By type, the commercial drone market is segmented into fixed wing drones, Rotary blade drones, Nano drones, and Hybrid drones. Rotary blade drone type is found to be the leading revenue generator, earning a revenue of approx. $591 Million in 2016. On the basis of application, the market is divided into Agriculture, Energy Sector, Government sector, Media and Entertainment, and others. The government sector is the leading sector in terms of revenue. On the basis of Geography, the market is segmented into North America, Asia-Pacific, Europe and Rest of World. The North American Market is estimated to be the leading market earning a revenue of approx. 471 $million in 2016, growing at a CAGR of 16.8% during the forecast period.
Key Market Players are, SC DJI Innovations Co, Ltd., Yuneec, Parrot SA., Aerovironment Inc.,Ehang, Aeryon Labs, Inc., Airware, Sensefly, 3D Robotics and INSITU.

Commercial Drones Market Segmentation

By Type

   • Rotary blade drones
   • Fixed wing drones
   • Hybrid drones
   • Nano drones

By Application

   • Energy Sector
   • Agriculture
   • Media & Entertainment
   • Government
   • Others

By Geography

North America
   • U.S.
   • Canada
   • Mexico

   • U.K.
   • Germany
   • France
   • Italy
   • Spain
   • Rest of Europe

   • China
   • Japan
   • India
   • Rest of APAC

Rest of World
   • Latin America
   • Middle East
   • Africa

Key Players

   • EHANG

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    What Information does this report contain?

    • What was the market size of the Commercial Drone Market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Commercial Drone Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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