Sep 25, 2018
Commercial Drone Poised to Emerge Game Changing in Drone Ecosystem through 2022, Says Fact.MR
by Team Fact.MR
DJI – the global drone leader, recently shipped 1000 Matrice drones equipped with machine vision, to Skycatch - the US-based startup, which are supposed to be conducting aerial surveys across the construction sites operated by Komatsu – one of the leading construction companies in Japan. DJI has also launched its latest offerings the Mavic 2 Zoom and the Mavic 2 Pro for enabling road travelers to take epic aerial shots of their car club with the highly sophisticated drone camera. Furthermore, an American tech giant - AeroVironment Inc. recently uncovered the US$ 6 Mn contract with Portuguese Army that involves the company’s Raven drones providing effective rapid force protection and high-end interoperability capabilities to the army.
While these mark only a few of the latest coverings of drone industry, the global drone marketplace has been witnessing a large number of activities in the recent past.
Projected to demonstrate stellar growth over the five-year forecast period, i.e. 2017-2022, the global drone market is likely to exhibit the CAGR of 22.8%. While this colossal expansion is predominantly attributed to extensive military applications, the recent years have been observing significant drone adoption by the commercial as well as industrial sectors – pushing proliferation of the global demand for drone technology in a plethora of end use verticals. UAV (unmanned aerial vehicle) or drone has witnessed tremendous evolution post first deployment; today, it is considered as an operational necessity.
Research confirms that defense will remain the most attractive realm for R&D and drone manufacturers are now increasingly prioritizing enhanced endurance, flexibility, and autonomy. The global drone market report published by Fact.MR offers an extensive evaluation of the key push and pull factors influencing drone market growth, latest trends and most feasible opportunities, and competition. Military drones are anticipated to continue creating maximum opportunities for drone manufacturers, estimated to represent over a multibillion dollar revenue share in the total drone market value towards 2022 end. Currently, defense industry of over 30 nation states are already operating or are in the middle of development of armed drone for military applications.
The report by Fact.MR expects commercial drone to emerge rapidly over the assessment period owing to widening application base in commercial and industrial sectors. As indicated by the report, the commercial drone is likely to reach just over US$ 6 Bn by 2022 end in terms of revenue. Although commercial drone currently accounts for a relatively lower value share in the drone market, increasing use cases in delivery, inspection, data transmission, 3D mapping, video collection, and other commercial applications are foreseen to uplift the growth prospects for commercial drone manufacturers in the near future. Experts even position commercial drone as the future of drone space.
Observing application-wise opportunities in drone market, border security will secure the top position, garnering hefty revenue through 2022. Significant opportunities are expected to spring up in aerial photography, construction, film and entertainment, agriculture, mining, and energy. Heavy payload capabilities and enduring flight times are identified to be the key factors that drone manufacturers and end user companies are focusing on. Although drones weighing within 25-150 kg payload are likely to enjoy the highest revenue sales of over US$ 3 Bn by the end of the forecast period, the report predicts a higher CAGR for the revenue generated through drones weighing within 150- 600 kg payload.
The report on global drone market provides detailed highlights of around 10-12 leading players competing in the global drone market landscape to mainly reveal the top sought developmental strategies among them. While strategic mergers, acquisitions, and partnerships are trending in an effort to acquire an enhanced portfolio, growing demand for price optimization of drone components and identification of high potential opportunities in commercial drone sector are driving a majority of investments in the drone marketplace.
For further insights on the global drone market, get in touch with the team Fact.MR.