According to a new market report by Lucintel, the future of the commercial drone market looks promising with opportunities in the precision agriculture, aerial photography, surveillance, survey mapping, and energy applications. The commercial drone market is expected to grow with a CAGR of 13% from 2019 to 2024. The major growth driver for this market is increasing demand for commercial drone from various end use industries. UAVs (Unmanned Aerial Vehicles) have the ability to perform hazardous tasks, such as inspecting utility pipelines, with higher precision and cost effectiveness as compared to the conventional methods.
In this market, multi-rotor drones, single rotor drones, fixed winged drones, and hybrid drones are the major product types used for entertainment, inspection and monitoring purposes. Multi-rotor segment is the largest product segment.
North America will remain the largest market over the forecast period due to favorable government initiatives regarding the advancement in drone technology coupled with the growing demand from businesses for drone-acquired data.
Parrot, Aurora Flight, Denel Dynamics, DJI, Draganfly, Northrop Grumman, Lockheed Martin, Elbit Systems, and General Dynamics are among the major manufacturers of commercial drones.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the commercial drone market by product type, application, end use, pay load, and region. Lucintel has prepared a comprehensive research report titled “Commercial Drone Market 2019-2024: Trends, Forecast, and Opportunity Analysis”. This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the commercial drone market by product type, application, end use, pay load, and region as follows:
By Product Type [$M shipment analysis for 2013 – 2024]:
- Multi-Rotor Drones
- Single Rotor Drones
- Fixed Winged Drones
- Hybrid Drones
- Others
By Application [$M shipment analysis for 2013 – 2024]:
- Precision Agriculture
- Aerial Photography
- Surveillance
- Survey Mapping
- Energy
- Others
By End Use [$M shipment analysis for 2013 – 2024]:
- Commercial
- Consumer
- Military
- Others
By Pay Load [$M shipment analysis for 2013 – 2024]:
- Less than 25 Kg
- 25 to150 Kg
- More than 150 Kg
By Region [$M shipment analysis for 2013 – 2024]:
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- ROW
- Brazil
This research report of more than 150 pages will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or helpdesk@lucintel.com
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the commercial drone market by product type (multi-rotor drones, single rotor drones, fixed winged drones, hybrid drones, and other), application (precision agriculture, aerial photography, surveillance, survey mapping, and energy), end use (commercial, consumer, military, and others), pay load (less than 25 kg, 25 to 150 kg, and more than 150 kg), and region (North America, Europe, Asia Pacific, and ROW)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the commercial drone market?
Q.5 What are the business risks and threats to the commercial drone market?
Q.6 What are the emerging trends in this commercial drone market and the reasons behind them?
Q.7 What are some changing demands of customers in the commercial drone market?
Q.8 What are the new developments in the commercial drone market? Which companies are leading these developments?
Q.9 Who are the major players in this commercial drone market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this commercial drones area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this commercial drone market?
