Jun 16, 2022

Growing Investment in Technology and Broad Application in Various Sectors The growing investment in technology by emerging countries has resulted in a stable flight platform essential for aerial photography. These investments have led to the introduction of a collision-avoidance system for easy maneuverability in the cities. This factor is anticipated to be a prominent factor in driving the market. Moreover, the increasing usage of smart commercial drones across mapping, e-commerce, and agriculture is also fueling its growth. The rise in cloud-based data services and applications is also anticipated to propel the smart commercial drone market growth. Filming and Photography to Make a Crucial Contribution to the Growth of the Market Based on application, the market is segmented into Mapping & Surveying, Filming & Photography, Inspection & Maintenance, Precision Agriculture, Surveillance & Monitoring, Others. The filming and Photography segment is expected to be the fastest-growing segment in the commercial drones market and is in great demand. The surveillance and monitoring segment is expected to hold the largest market share. Based on end-use the market can be segmented into Agriculture, Delivery & Logistics, Security & Law Enforcement, Others. Based on product, the market is segmented into Fixed-Wing, Rotary Blade, Hybrid. Favorable government Programs To Benefit North America Market North America attained the largest market share in terms of revenue, due to favorable government initiatives regarding the advancement in drone technology and the increasing demand from businesses for drone-acquired data. Such rules and regulations are anticipated to reduce entry barriers which would help the industry to propel in the next few years. Asia Pacific is anticipated to gain the fastest CAGR over the next six years. China and Japan are adopting automation and advanced technologies across a wide range of industries to counter rising labor costs. Players to Focus on Commercial Drones Market The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Aeronavics Ltd., AeroVironment Inc., Aeryon Labs Inc., DJI, Draganfly Innovations Inc., EHANG, Intel Corporation, Parrot Drones SAS, PrecisionHawk, and YUNEEC among others could be at the forefront of the competition in the global market. FLIR Systems: In January 2019, Oregon-based drone company FLIR Systems had acquired UAS firm Aeryon Labs in a $200 million deal. Based in Canada, Aeryon is a leading designer and manufacturer of drone solutions built around aircraft less than 20 pounds. The company mainly works with the global military, public safety, and critical infrastructure market with 20 military agencies in more than 30 countries as customers, including the U.S. Defense Department. AeroVironment, Inc.: In June 2019, AeroVironment, Inc., a global leader in unmanned aircraft systems (UAS) for both defense and commercial applications, announced it had acquired Pulse Aerospace, LLC, a developer and supplier of small VTOL UAS, for $25.7 million in cash, including milestone-based earn-out payments of $5 million. AeroVironment financed the transaction entirely from available cash on hand. Company Profiles