So it seems like the AUVSI (Association for Unmanned Vehicle Systems International) is no longer the only game in town when it comes to tracking, analyzing and projecting the growth of the drone market. MarketsandMarkets has gotten into the game. Recently, both have released reports projecting the growth of the drone industry over the next 10 years, and interestingly enough, the reports couldn’t be any more different.
Below is the summary of, the fairly expensive, report that MarketsandMarkets has produced.
UAV Drone Market for Commercial by Type (Fixed Wing, Rotary Blade, Quad Rotor), Technology (Energy & Propulsion System, Automation, Collision Avoidance), Application (Government, Agriculture, Manufacturing, Retail) & Geography – Global Forecast to 2020
The UAV Drone Market for Commercial for Commercial is estimated to grow at a CAGR of 109.31% to reach $1.27 billion by 2020. The UAVs have been evolving over the years with improved design, significant operating ranges and tenure, and better data processing capabilities. They can transfer high-resolution video and images, and other surveillance data to base station in real-time. The various applications of commercial drones not only help the end-user save big in terms of cost and time of operation but also mitigate the risk of human involvement. The commercial drone industry has also been expanding in applications such as retail industry, environmental surveillance, and the media and advertisement industry.
The key applications included in the report are law enforcement, energy and power, manufacturing, infrastructure, media and entertainment, agriculture, and scientific research. Among all, the law enforcement application is expected to hold the largest share of the market at ~25%.
The UAV Drone Market for Commercial has also been segmented by technology into energy and propulsion systems, automation system, collision avoidance system, cyber-security and jamming, on-board data processing, and communication data links and radio frequency spectrum capacity. The report also segments the Commercial drones market based on geography into the Americas, Europe, Asia-Pacific, and Rest of the World (RoW). In 2014, the Americas comprised the largest region in terms of market revenue for the commercial drone market and are projected to grow at the highest CAGR of 111.93% between 2014 and 2020.
Is the report really expensive? I guess it’s all relative, but you can find pricing below.
- $5,650 – Single
- $8,650 – Corporate