Business Insider has released a new report, “The Drones Report,” that has some exciting takeaways for the industry.
Drones turned the corner in 2015 to become a popular consumer device, while a framework for regulation that legitimizes drones in the US began to take shape. Technological and regulatory barriers still exist to further drone adoption.
Drone manufacturers and software providers are quickly developing technologies like geo-fencing and collision avoidance that will make flying drones safer. The accelerating pace of drone adoption is also pushing governments to create new regulations that balance safety and innovation. The FAA is set to release new regulations this spring could help boost adoption. Safer technology and better regulation will open up new applications for drones in the commercial sector, including drone delivery programs like Amazon’s Prime Air and Google’s Project Wing initiatives.
What are some of the key takeaways?
- Business Insider projects revenues form drones sales to top $12 billion in 2021, up from just over $8 billion last year.
- Shipments of consumer drones will more than quadruple over the next five years, fueled by increasing price competition and new technologies that make flying drones easier for beginners.
- Growth in the enterprise sector will outpace the consumer sector in both shipments and revenues as regulations open up new use cases in the US and EU, the two biggest potential markets for enterprise drones.
- Technologies like geo-fencing and collision avoidance will make flying drones safer and make regulators feel more comfortable with larger numbers of drones taking to the skies.
- Right now FAA regulations have limited commercial drones to a select few industries and applications like aerial surveying in the agriculture, mining, and oil and gas sectors.
- The military sector will continue to lead all other sectors in drone spending during our forecast period thanks to the high cost of military drones and the growing number of countries seeking to acquire them.
Many of these forecasts are inline with historical forecasts, at least conceptually, but the growth factors have multiplied. One thing this new report makes clear, the drone industry at large, is primed for explosive growth. If you’d like to be part of this new and exciting industry, the make sure you get the drone training you will need from a reputable drone college.
About Business Insider
Business Insider is an American business, celebrity and technology news website launched in February 2009 and based in New York City. Founded by DoubleClick former CEO Kevin P. Ryan, it is the overarching brand where Silicon Alley Insider (launched May 16, 2007) and Clusterstock (launched March 20, 2008) appear. The site provides and analyzes business news and acts as an aggregator of top news stories from around the web. The online newsroom currently employs a staff of 50, and the site reported a profit for the first time ever in the 4th quarter of 2010. In June 2012 it had 5.4 million unique visitors.
Business Insider hosts industry conferences including IGNITION, which explores the emerging business models of digital media. In January 2015, Business Insider launched BI Intelligence, a subscription-based research service that provides data and analysis on the mobile, payments, eCommerce, social, and digital media industries. The site each year publishes editorial franchises such as the “Digital 100: The World’s Most Valuable Private Tech Companies”.