Smart Commercial Drone Market Synopsis
Commercial drones are a nascent technology with immense potential for growth. The technology has already penetrated many industrial verticals and is likely to witness a significant rise in applications, The report published by Market Research Future (MRFR) has unfolded that the global smart commercial drone market is assessed to strike an exponential CAGR of 79.63% during the evaluation period 2019 to 2024.
The key advantages offered by the technology are stability, navigation, reliability, ability, and easy landings, among others. These are likely to motivate the growth trajectory of the smart commercial drone market over the next couple of years. Increasing investments in the development of advanced technologies are further poised to boost revenue creation in the years to come.
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Leading Players– PrecisionHawk Inc. (US), Parrot Drones SAS (France), DJI (China), 3D Robotics, Inc. (US), Israel Aerospace Industries (Israel), Elbit Systems Ltd (Israel), Yamaha Motor Company Limited (Japan), HUVRData, LLC (US), XAIRCRAFT Technology Co. Ltd (China), Ascending Technologies GmbH (Germany), Zero UAV (Beijing), AeroVironment, Inc. (US), Intelligence Technology Co. Ltd (US), and Draganfly Innovations Inc. (Canada).
The growth trajectories of these companies have been profiled for providing an actionable insight into the market. Some of the strategies developed and expected to be executed by these players in the upcoming years are partnerships, research & development, collaborations, mergers & acquisitions, etc. In addition, rising investments in the expansion of technological capabilities of the participants of the smart commercial drone market are likely to increase competition among the competitors over the next few years.
- Drone manufacturers
- Information technology companies
- Law enforcement agencies
- Defense organizations
- Government authorities
- Defense companies
- Research institutes
- Regulatory bodies
By type, the global Smart Commercial Drone Market has been segmented into multi-rotor, fixed-wing, and others. Among these, the fixed-wing segment is currently dominating the global market. It is likely to hold the dominant share of the market in the years to come and exhibit the highest CAGR over the review period.
On the basis of component, the smart commercial drone market has been segmented into payload, navigation and control, guidance, and propulsion system. The payload segment is anticipated to dictate the growth of the market over the next couple of years. It is poised to register a relatively higher CAGR through the assessment period.
Based on application, the global smart commercial drone market has been segmented into delivery drones, oil & gas, agriculture monitoring, law enforcement, entertainment, disaster management, media, and mapping, environmental drones, real estate and construction, networking for remote areas, and others. Among these, the delivery drones segment is anticipated to retain its pole position over the next few years. The segment is assessed to expand at the highest CAGR across the forecast period. Meanwhile, the agriculture monitoring segment is also likely to exhibit strong growth potential owing to its use in 3D modeling for providing real-time field insights.
The global smart commercial drone market, on the basis of region, has been segmented into North America, Asia Pacific (APAC), the Middle East & Africa (MEA), Europe, and Latin America. Asia Pacific is expected to strike the highest CAGR during the review period. Availability of low-cost smart drones is projected to drive market growth in the nearby future. Also, the rising production of smart drones in the region is anticipated to lead the growth pace of the market over the next few years. China is likely to play a significant role in the development of the smart commercial drone market in the region. India is also a prominent country-level market expected to support the growth pattern over the assessment period.
- Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
- Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America along with key countries in each region
- Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
- Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
- Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
- Regional attractiveness and related growth opportunities
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Table of Contents
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Smart Commercial Drone Market, by Type
1.1.2. Global Smart Commercial Drone Market, by Application
1.1.3. Global Smart Commercial Drone Market, by Component
1.1.4. Global Smart Commercial Drone Market, by Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
4. Market Insights
List of Tables
Table 1 Global Smart Commercial Drone Market, by Region, 2019–2024
Table 2 North America: Smart Commercial Drone Market, by Country, 2019–2024
Table 3 Europe: Smart Commercial Drone Market, by Country, 2019–2024
Table 4 Asia-pacific: Smart Commercial Drone Market, by Country, 2019–2024
Table 5 Middle East & Africa: Smart Commercial Drone Market, by Country, 2019–2024
Table 6 Latin America: Smart Commercial Drone Market, by Country, 2019–2024
Table 7 Global Smart Commercial Drone Market Size, by Region, 2019–2024
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Smart Commercial Drone Market Share, by Type, 2018 (%)
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