Global Commercial Drone Market By Drone Type (Rotary Blade Drone, Fix Wing Drone, Hybrid Drone & Nano Drone), By Application (Mapping, Surveying & Photography, Precision Agriculture, etc.), By Region, Competition Forecast & Opportunities, 2015 - 2021
Growth in the commercial drone market is largely dependent on policy and regulatory framework in various major developing and developed countries across the globe. Over the next decade, rapidly evolving drone technology is expected to transform the conventional way of doing business in various sectors. Evolving regulatory policy framework, increasing commercial applications of drones across various end-use sectors, coupled with advancements in drone technologies are projected to propel growth in global commercial drone market in the ensuing years. Over the last five years, drones were being mainly used in the defense sector across various countries. However, various advantages such as time reduction, easy manoeuvrability and ability to trim down operational costs is increasing usage of commercial drones in diverse application areas such as precision agriculture, mapping, photography, surveying, media and entertainment, law enforcement & public safety, and inspection/monitoring in energy, mining and infrastructure sectors.
According to TechSci Research report, “Global Commercial Drone Market By Drone Type, By Application, By Region, Competition Forecast and Opportunities, 2015-2021”, the global market for commercial drone is projected to grow at a CAGR of over 27% during 2016-2021. In 2015, North America and Europe cumulatively accounted for a market share of more than 60% in the global commercial drone market. With US being the largest market for commercial drones, the civil aviation body of the US, Federal Aviation Administration, has constantly been making amendments in policies and regulations for use of commercial drones in the country. Moreover, frequent modifications in the regulatory policies by European Aviation Safety Agency (EASA) over the last few years has also been positively influencing the drone industry. “Global Commercial Drone Market By Drone Type, By Application, By Region, Competition Forecast and Opportunities, 2015-2021” report elaborates following aspects of commercial drone market: