Zion Market Research published new report on "Commercial Drone Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016-2024" in its database.
Commercial drones are also known as Unmanned Aerial Vehicles (UAVs). Retailing and e-commerce industries are working on using UAVs to deliver goods and products at the earliest to customers. In July 2015, Amazon recommended issuance of a distinct airspace zone specifically for these UAVs' operation so as to deliver products to customers. Nevertheless, such innovative steps are restrained by the government regulations and are successful when given permission to be introduced in the market. Governments all over the world are utilizing these UAVs in various applications including infrastructure, law enforcement, scientific research, environmental studies, R&D, and in disaster management activities.
Rising application of UAVs in law enforcement and agriculture sectors is anticipated to have a positive impact on the global commercial drone market in the near future. These UAVs have applications in numerous industrial sectors such as military, agriculture, homeland security, and retail. Though there is a high demand for military applications, commercial applications are slowly but surely getting a pace. Aviation governing bodies including the European Aviation Safety Agency (EASA) and the US Federal Aviation Administration (FAA) have restricted the UAVs use considering the limitations in the management of air traffic and safety on a large scale. Though these UAVs are now been utilized for commercial purposes, there are yet few sectors such as logistics and transport where they still banned. New rules for these UAVs, which will allow users to use them, are proposed by the FAA. However, they can fly them in the daytime and only if they stay under 500 ft in the air, weigh up to 55 pounds, and fly less than 100 mph.
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The global commercial drone market is segmented on the basis of product and application. On the basis of product, the global market is segmented as fixed wing, nano, rotary blade, and hybrid. Based on the application, the global commercial drone market is bifurcated as agriculture, government, energy, media & entertainment, and so on.
Due to increasing applications and high production in the commercial sectors, North America is anticipated to dominate the global commercial drone market. On the other hand, Europe is anticipated to witness significant growth in the near future mainly owing to the less stringent regulations and rising applications in agricultural and law enforcement. Initiatives by the government and building tweaks are other factors boosting the global market in this region. Furthermore, high demand for the UAVs is anticipated to be witnessed by Asia Pacific. Australia, as well as Asian countries including Japan, is focusing on using commercial drones for agricultural purposes.
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Some of the major players in the global commercial drone market are BAE Systems PLC, AeroVironment Inc., DJI, Elbit Systems Ltd., Draganfly, General Atomics, Lockheed Martin Corporation, Israel Aerospace Industries, Northrop Grumman, Textron Inc., Parrot SA, and The Boeing Company.
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