The global commercial drone market is projected to witness the growth at a CAGR of 20.63% during the forecast period to reach a total market size of US$2.034 billion by 2022, increasing from US$0.660 billion in 2016. The use of commercial drones is increasing significantly more specifically after the recent passage of federal drone compliance regulation which created a clear path of certification for pilots flying commercial drones resulting in increasing adoption of commercial drones.
Moreover, increase in the number of certified pilots has resulted in drone based data capturing becoming an efficient and reliable for businesses to gather aerial insights. Simultaneously, the cost of drone components has been declining over the years resulting in reduction of overall prices of drones leading to the growth of the commercial drones market.
GLOBAL COMMERCIAL DRONE MARKET BY TYPE
By type, commercial drones market is segmented as rotary blade drones, hybrid drones, nano drones and fixed-wing drones. Rotary blade drones are some of the most common drones available on the market. Fixed-wing drones work on the same principle as an aircraft and usually require some aerodynamic experience for effectively flying a fixed-wing drone. Rotary blade drones held a significant market share in 2016 due to their ability of easy take-off and landing and early adoption in certain regions of the world. The demand hybrid drones will grow at an impressive rate due to its capability of carrying a heavier payload and being in the air for a longer period of time. The demand for nano drones and fixed-wing drones will witness a moderate growth over the coming five years.
Commercial drones market for hybrid drones is projected to grow at the CAGR of XX% during the forecast period to reach a total market size of US$XX million in 2022 from US$XX million in 2016. Hybrid type drones make use of more than one power source, extending their flight time and load capacity. Unlike other commercially available drones which need to be recharged regularly between trips, these drones can fly for a longer period of time while carrying a heavy payload. Due to the increase in the flying time, these drones are ideal for various applications including disaster response, transportation of goods, inspection, crop-monitoring and many others.
Their ability to carry a heavy payload for a long period of time makes them useful for search & rescue and disaster response purposes by dropping essential medical supplies and food. In addition, these drones could provide vital information about an area where reaching manually might consume valuable time. These drones could also be used for surveillance due to their ability to cover an extensive area and the ability to carry a wide variety of payload such as thermal sensors with tracking systems, zoom and gyro-stabilized gimbals among many others. We have covered all segments in-depth analysis like market share, size, forecast, trends in the market research report.
GLOBAL COMMERCIAL DRONES MARKET BY GEOGRAPHY
Geographically, global Commercial Drones market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America, being the early adopter of new technologies hold a significantly large share in the global market. Supportive government initiatives and increasing applications in law enforcement and agriculture is expected to spur the demand for commercial drones in Europe.
The market in Asia pacific is anticipated to witness a rapid growth over the projected period on account of high adoption of commercial drones for agriculture and disaster management activities.
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