Market Research Report
Commercial Drone Market Size, Share & Trends Analysis Report By Application (Filming & Photography, Inspection & Maintenance), By Product (Fixed-wing, Rotary Blade Hybrid), By End Use, And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||906552|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Commercial Drone Market Size, Share & Trends Analysis Report By Application (Filming & Photography, Inspection & Maintenance), By Product (Fixed-wing, Rotary Blade Hybrid), By End Use, And Segment Forecasts, 2019 - 2025|
|Published: June 17, 2019||Content info: 120 Pages||
The global commercial drone market size is anticipated to reach USD 129.23 billion by 2025, registering a CAGR of 56.5% over the forecast period, according to a new report by Grand View Research, Inc. The market is characterized by the growing application scope spanning a wide range of sectors such as construction, photography, real estate, and agriculture.
With their capability to reach places that humans and other machines cannot, and their onboard computer controlled cameras, commercial Unmanned Aerial Vehicles (UAVs) hold enormous potential to help farmers to monitor crops, law enforcement authorities to sharpen surveillance activities, and to support insurance agents in accessing damaged assets. Drone hardware has also become more affordable to produce and purchase over the years.
There has been a notable improvement in battery life along with the progress in the degree of autonomy for UAVs. As a result of all these developments, contemporary drones possess the ability to be used across a broad range of applications in the commercial sector, leading to their increased adoption across a range of commercial applications.
In terms of product type, the commercial drone market for rotary blade drones is expected to expand at a significant CAGR over the forecast period due to their increasing use in filming and photography applications. These type of UAVs offer the ease of maneuvering in tight spaces and are ideal for detailed work. In terms of revenue, the market for rotary blade drones is expected to register a CAGR of over 55% during the next six years.