A drone can be classified as an aircraft without a human on-board. These are also called unmanned aerial vehicles (UAVs). Drones are typically controlled remotely by a pilot, however, some versions exist that can fly autonomously. These drones could vary in size and shape, but the core elements which are motor sensors, microcontroller and battery are fundamentally the same. Created as a cheaper and safer alternative to manned aircrafts, drones are used extensively for both commercial and military purposes. Their commercial applications can disrupt the market and open new opportunity and new business models in the coming years.
There are many factors that are helping the smart commercial drone market to flourish. The growing investment in the technology by emerging economies have resulted in stable flight platform which is a pre-requisite for aerial photography. These investments have also given rise to collision avoidance system for easy maneuverability in the cities. This factor is expected to be amongst the major factors driving the market. Additionally, the increasing use of smart commercial drones across e-commerce, mapping and agriculture is also adding to the market’s growth. The emergence of cloud based data services and applications is also anticipated to spur the smart commercial drone market growth.
There are however, some factors that are restraining the smart commercial drone market growth. Chief among them is the high initial investment. A lot of capital is required for the research and development of technology and platform to put these in the air. As these drones are controlled remotely, the absence of internet connectivity also acts as a restraint to the smart commercial drone market growth. The smart commercial drone market is also plagued with regulations which is also a major challenge for the market’s growth. Moreover, the innovation and advancement in the technology related to the smart commercial drone by the well established and emerging players are expected to overcome these restraints in near future.
The global smart commercial drone market can be segmented on the basis of product type, application, and region. Based on the product type, the global smart commercial drone market can be segmented into fixed wing, rotary blade and others. On the basis of application, the global smart commercial drone market can be divided into delivery drones, agriculture monitoring, law enforcement, oil & gas, disaster management; entertainment, media, and mapping; and others.
The major key players operating in global smart commercial drone market are SZ DJI Technology Co., Ltd., Parrot Drones SAS, 3D Robotics, Inc., Elbit Systems Ltd., Israel Aerospace Industries, HUVRData, LLC, Ascending Technologies GmbH, XAIRCRAFT Technology Co. Ltd., Zero UAV (Beijing) Intelligence Technology Co. Ltd., AeroVironment, Inc., Yamaha Motor Company Limited and Draganfly Innovations Inc.