Commercial Drone Market To Grow Exponentially In Coming Years

Welcome to the GVR Market Research Podcast from Grand View Research Inc, San Francisco.

Imagine you are a claim adjuster working in a big wheel insurance company. Your mission for today is to clear at least some of the numerous insurance claims from the ongoing Atlantic Hurricane season. While you try to plan your work, your organization introduces you to a brand new Unmanned Aerial Vehicle (UAV). This device is specifically designed to assess the damages caused by natural disasters. You heard it! A UAV or drone is no more a revolutionary product. It is used as the most expensive weapon, an aerial photography tool, to even a cheap toy for kids.

However, its innovative applications ranging from journalism to agriculture can set the rules for drone usage. Within next four years, which means by 2022, the commercial drones market can surpass USD 2.07 billion. Versatile commercial drones come in different blade types such as fixed wing, rotary blade, hybrid, and nano drones. Their versatility makes them suitable for applications such as energy, media, law enforcement, agriculture, entertainment, retail, insurance, and others.

Governmental support for commercial applications can propel their demand. Adoption of fixed wing drones for aerial surveillance of building structures for 3D modeling and farm crops can further support the market for commercial drones to attain significant popularity. Innovative usage such as hyperspectral, atmospheric, and soil moisture monitoring may witness steady rise till 2022.

Worldwide market for commercial drones is expected to register nearly 16.9% CAGR from 2014 to 2022. While North America may continue dominating the overall market, Europe is anticipated to emerge as the fastest growing region in the forthcoming years. It will be interesting to witness vertical integration, technological upgrades, and innovations in terms of applications of commercial drones as the consumer interest grows. 

Sample Study Report Available: Commercial Drone Market

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