A new market research report by Transparency Market Research, titled “Commercial Drones Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023,” offers a comprehensive overview of the global commercial drones market. The report points out the key factors affecting the growth of the market and estimates the growth and valuation of the market by the end of 2023. The impact of Porter’s five forces on the growth of the market has been also analyzed. The report studies the overall market on the basis of product type, technology, applications, and regions. Profiles of some of the key market players have been included in the report.
The growing demand for drones across various commercial applications due to the ability of drones to transfer high resolution images and video and other surveillance data in real time to base stations will accelerate the growth of the global commercial drones market. In the last couple of years, technological advancements including better data processing capabilities and improved design have further fuelled the demand for commercial drones. However, stringent government regulations regarding safety and security issues will inhibit the growth of the market. Dearth of trained pilots and lack of air traffic management systems will further undermine the growth of this market in the coming years. The overall market has a huge opportunity to grow with increasing use of commercial drones in law enforcement applications.
In terms of product type, the global commercial drones market has been categorized into hybrid drone, nano drone, rotary blade drone, fixed wing drone, and others. According to technology, the market is further segmented into collision avoidance systems, automation systems, cyber-security and jamming, energy and propulsion systems, radio frequency spectrum capacity, and communication data links and on-board data processing. Based on applications, the report segments the global commercial drones market into energy and power manufacturing, law enforcement, scientific research, media and entertainment, agriculture, and infrastructure. The law enforcement segment is expected to dominate the market during the forecast horizon. The report studies the global commercial drones market across five key regions: Asia Pacific, North America, Middle East and Africa, Europe, and Latin America.
Some of the prominent players in the global commercial drones market are Aurora Flight Sciences, Trimble Uas, Hoovy Llc, 3D Robotics, Drone Deploy, Precision Hawk, Finmeccaniaca Spa, Northrop Grumman Corporation, Turkish Aerospace Industries Inc., Lockheed Martin Corporation, Aerovironment Inc, Thales Sa, Boeing Corporation, Israel Aerospace Industries Ltd. (Iai), Bae Systems Plc, Textron Inc, Aeronautics Ltd., Safran Sa, Sensefly, Elbit Systems, Denel Soc Ltd., Airware Inc., General Atomic Aeronautical Systems Ltd., DJI, and Vdos.