Global Commercial Drones Market is expected to rise from its initial estimated value of USD 3.96 billion in 2018, to a projected value of USD 17.04 billion by 2026, registering a CAGR of 20% in the forecast period of 2019-2026. This rise in market value can be attributed to growth in the technological offerings resulting in advanced and innovative products.
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Major Market Competitors/Players: Global Commercial Drones Market
3D Robotics; DJI; Aeryon Labs Inc.; Parrot Drones SAS; Aurora Flight Sciences; Denel SOC Ltd; Draganfly Innovations Inc.; Northrop Grumman Corporation; Lockheed Martin Corporation; Elbit Systems Ltd.; General Dynamics Corporation; AeroVironment, Inc.; Leptron Unmanned Aircraft Systems, Inc.; PrecisionHawk; YUNEEC; Trimble Inc.; INSITU; senseFly; Xiaomi; Sentera, Inc.; AiRXOS, a GE venture; QUADROCOPTER; Identified Technologies are few of the major competitors currently present in the market.
Market Drivers:
- Increasing adoption of commercial drones for a number of end-use applications, majorly from the agricultural segment for the visualization and analysis of land area is expected to act as a driver for the market growth
- Increased levels of investments and research activities associated with commercial drones from private and government sources; this factor is expected to act as a driver for the market growth
Market Restraints:
- Availability of substitutes to drones such as satellites and other imaging alternatives are factors expected to restrain the market growth
- High cost of drones and requirement of high capital investments for the maintenance of these drones; this factor is expected to restrain the market growth
Key Developments in the Market:
- In June 2018, GE Ventures announced the launch of a startup based out of Boston, United States named AiRXOS. With the company focused on providing commercial drone software and product solutions to the consumers and industries. The startup is a joint venture between two of GE’s business divisions, GE Business Innovations and GE Aviation.
- In August 2017, 3D Robotics and DJI announced that they had collaborated to integrate 3D Robotics’ Site Scan software for drones compatible with DJI’s drones. This venture will help in providing consumers the best that both the organizations can offer.
Table of Content:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Global Commercial Drones Market Landscape
Part 04: Global Commercial Drones Market Sizing
Part 05: Global Commercial Drones Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Segmentation: Global Commercial Drones Market
By Drone Type
- Rotary Blade Drones
- Multi-Rotor Drones
- Single Rotor Drones
- Fixed Wing Drones
- Hybrid Drones
- Others
By Offering
- Software & Services
- Hardware
By Application
- Government & Defense
- Agriculture & Environmental
- Energy
- Media & Entertainment
- Construction & Archaeology
- Others
By Geography
- North America
- South America
- Europe
- Asia-Pacific
- Middle East and Africa
Competitive Analysis: Global Commercial Drones Market
Global commercial drones market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of commercial drones market for global, Europe, North America, Asia-Pacific and South America.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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