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.
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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
ROW
This 150-page research report 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 https://www.lucintel.com/commercial-drone-market.aspx or helpdesk@lucintel.com.
About Lucintel
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