Commercial UAV Market Size, Trends, Challenges and Forecast Report 2018 – 2026
The increasing applications of Commercial UAV in industries such as agriculture, media & entertainment, and mining have boosted the growth of the market. Use of UAVs in performing high risk tasks further support the growth of this market. Additionally, the technological innovation in the market in terms of miniaturization & improvement of components further boosts the adoption of Commercial UAV Market. Increasing investments by vendors in technological advancements coupled with decreasing prices of components would reduce the overall cost of UAVs in the coming years, further supporting the market growth. However, security and privacy concerns are expected to hamper market growth during the forecast period. Growing demand from emerging economies, and increasing awareness are factors expected to provide numerous growth opportunities in the coming years.
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According to a new study published by Polaris Market Research the Commercial UAV Market is anticipated to reach over USD 15.624.7 million by 2026.
The well-known companies profiled in Commercial UAV Market report include: -
- Parrot SA
- SAIC
- Israel Aerospace Industries
- Elbit Systems Ltd.
- DJI Innovations
- BAE Systems PLC
- PrecisionHawk Inc.
- Aeryon Labs Inc.
- 3D Robotics Inc.
- Aurora Flight
- Denel Dynamics
These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
The adoption of Commercial UAV is rising at a significant rate worldwide. UAVs provide high resolution imagery capable of monitoring and verifying applications in various sectors including civil engineering & construction, government, defense & intelligence, agriculture & forestry, transportation, real estate, and others. Varied applications of commercial UAVs include topographic mapping, infrastructure planning, exploration of new energy sources, mitigation of impact of disasters, and monitoring drilling projects in oil & gas industry. Also, commercial UAVs assist in monitoring vegetation, green mapping, vegetation damage due to leaching, traffic management, tracking of fleet, and others. In real estate industry, commercial UAVs are used for enhanced view of buildings and properties, and in insurance sector for accessing environmental risk through accurate and updated geographical data.
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The different end-users in Commercial UAV Market include agriculture, energy and public utilities, construction, media and entertainment, government, and others. In 2017, the government segment accounted for the highest market share. Government sector majorly uses commercial UAVs for security and law enforcement. Unmanned aerial vehicles are equipped with optical, zoom and thermal cameras for surveillance and acquiring evidence. Other applications of commercial UAVs in this sector include search and rescue, traffic collision reconstruction, investigating suspects, crime scene analysis, crowd monitoring, and others.
North America generated the highest revenue in the market in 2017, and is expected to lead the Commercial UAV Market throughout the forecast period. The increasing applications in the commercial sectors have increased demand of commercial UAVs in the region. The increasing demand from agriculture, and media & entertainment sectors further boosts market growth. Local players are introducing low cost commercial UAVs with high performance. Numerous key players have adopted partnership and expansion strategies to increase their market share in markets in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
TOC of Commercial UAV Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Commercial UAV Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
TOC Continued…...!!!
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on Thursday November 01 2018, 9:45 AM EST.
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