The global civil drone market is expected to reach US$ 21.61 Bn by 2027 with a CAGR growth rate of 14.3% in the forecast from 2019 to 2027.
PUNE, MAHARASHTRA, INDIA, December 10, 2019 /EINPresswire.com/ — According to the new research report published by The Insight Partners, titled “Civil Drone Market – Global Analysis and Forecast to 2027”, the global civil drone market is expected to reach US$ 21.61 Bn by 2027, registering a CAGR of 14.3% during the forecast period 2019-2027.
Drones are believed to be of immense advantage in these domains, especially in support of public safety, search and rescue operations and disaster management. In case of natural or man-made disasters like floods, Tsunamis, or terrorist attacks, critical infrastructure including water and power utilities, transportation, and telecommunications systems can be partially or fully affected by the disaster. This necessitates rapid solutions to provide communications coverage in support of rescue operations.
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The major players operating in the market for civil drone market are 3D Robotics, Aerovironment, Inc., Aerodyne Group, Drone Volt, ECA Group, Insitu, Inc., Intel Corporation, Parrot, Precisionhawk, SZ DJI Technology Co., Ltd and Yuneec International among others.
The market of unmanned aircraft systems (UAV), which is generally referred to as drones is developing. Civil drones have the potential to transform business models and tackle societal challenges around the world. Drones have already expanded their business to the consumer market, and now they're being put to work in civil government and commercial applications. This expansion is creating a market opportunity for many commercial drone providers around the world. Drones can be used for various applications such as in the agriculture industry it can increase crop yields. Similarly, it is used in various other applications such as energy & power, real estate, and others. Large enterprises and growing start-up are investing in commercial drones. For the implementation of civil drones, it would require new types of airspace management, privacy and data ownership policies, and physical infrastructure. Setting the right policy foundation for industry cooperation through smart government regulation and industry-driven standards would accelerate the adoption of new business models once the technology and infrastructure are mature.
Moreover, the concept of swarm intelligence (SI) is expected to allow the collaboration of multiple autonomous drones. Swarm intelligence leverages artificial intelligence to achieve multiple drones to achieve more complex and more significant tasks collectively. This would give a drone to think and perform the following activity. An autonomous industrial drone is known as “Airobotics” has been given the authorization to fly autonomous guided drones in Israel. Autonomous drone flight abilities will extend beyond independent flight, and it will also aid in autonomous ongoing battery replacement operation, which will decipher the current issue of restricted battery life for drones and negate the need for expert operators to switch batteries or recharge the drones The trend is predicted to pitch over the period leading to a huge opportunity for the civil drone players.
The civil drone market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region holds the highest market share, whereas Asia Pacific is projected to be the fastest-growing region as well in the coming years. The APAC region consists of many developing countries owing to growing infrastructural projects, improving standard of living, rising population, and disposable income. The above mentioned are subjected to have a positive impact on the commercialization of civil drone within professionals. Further, digital initiatives along with the adoption of advance technologies by the Asian countries have drove strong government support for adopting drone for particular.
The civil drone market by application is segmented into agriculture, real estate/infrastructure, energy & power, and others. The energy & power holds a significant share in the market and on the other hand real estate/infrastructure is expected to continue its dominance in the forecast period as well. Increase in the number of construction projects such as residential building, shopping mall, commercial buildings and other infrastructures worldwide is fueling the demand for advanced civil drone. This factor is responsible to accelerate acceptance of civil drone in real/estate sector. By type, the market is segmented into fixed wing and rotary wing. The rotary wing holds the largest market share in the market.
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The report segments the global civil drone market as follows:
Global Civil Drone Market – By Type
Fixed Wing Drone
Rotary Wing Drone
Global Civil Drone Market – By Platform
Global Civil Drone Market – By Application
Surveying & Mapping
Global Civil Drone Market – By End-User
Real Estate/ Infrastructure
Energy and Power
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Source: EIN Presswire