Drone Market: Global Opportunities, Regional Overview, Top Leaders, Size, Revenue and Forecast up to 2022

Key Insights: Global Drone Market

Military and Defense Still the Largest Opportunity Generator for Drone Manufacturers

With predominant applications in military, drone witnessed a safe and relatively cheaper inception owing to its superior capabilities over the manual military aircraft. More than 90 countries across the globe are flying military drones at present. While drone is being perceived as the future of warfare by industry experts, military drones are rapidly evolving as the most lucrative area for R&D.

Defense departments and drone manufacturers are working hand-in-hand in an effort to achieve greater flexibility and endurance, in addition to desired autonomy. Although military and defense will continue to present the largest market to drone manufacturers throughout the foreseeable future, the recent past has been observing global drone market competition heating up at a rapid pace – eventually expected to transform the entire drone application scenario in the long run.

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Brisk Incorporation of Drone into Commercial and Industrial Business Models Uplifting Market Space

Post making a notable leap to the consumer retail market, drone is now believed to invade commercial and industrial domains as a powerful tool for disruption. Drone is gradually attaining the mainstream tag in the commercial sector owing to its exceptional data gathering and analytical capabilities. Experts reaffirm that within the next decade, current business models are likely to be disrupted by drone technology. Consumerization of the drone hardware will further provide a push to drone deployment by commercial entities in the near future.

Commercial drones with increasing flight times and payloads will continue to deliver highly secure systems that are anticipated to experience hefty adoption by commercial sectors such as agriculture, security, emergency response, and other businesses. Growing popularity of DaaS (drone as a service) model will enable the drone market revenue reach a new high, as businesses have already stepped in the game for gaining impeccable operational efficiency.

Drone Witnessing Mass Adoption for Security and Surveillance Applications

The US and France are already utilizing drone for domestic policing; Victoria (Australia) is the latest in the league. With a critical objective to monitor and protect mass crowd at public events, sport stadiums, and festival venues, the Victoria Police recently announced their new three-year strategy that aims to counter terrorism. This strategy involve drones hovering over huge crowd to track both, those who are suspected and those who are susceptible to be radicalized. The students at Elite Institute (Sydney) are extending their expertise in decoding the communication amongst suspected terrorists, to help the police. Increasing critical emergency of security applications is anticipated to provide a strong impetus to drone adoption in the near future.

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Drone Innovation Face-lifting Fundamental Applicability

In 2017, Seville-based CATEC (Center for Advanced Aerospace Technologies) introduced a new drone in European market that specializes in highly efficient, safer, and affordable industrial inspections, which is otherwise a risky and cost-sensitive affair. The all-inclusive industrial pipe inspection services delivered by this sensor-equipped ultrasonic instrument have already covered a large number of oil and gas pipelines, and are expected to remain sought after within the industrial sector over the years ahead – In Europe and outside.

Several other innovations will continue to shape the future of drone market through 2022, one of which includes emergency response drones that deliver food and goods to disaster-afflicted responders. Another breakthrough – medical drone – includes the delivery of blood and other emergency healthcare products to remote locations. Moreover, a number of R&D efforts targeting introduction of electric drones with groundbreaking flight times are presumed to elevate the prospects for drone market in the near future. Research also identifies that novel innovation such as the drone that can be regulated with human thoughts will impart an entirely new dimension to the drone market space soon.

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Demanding Regulation to Favor Drone Market Performance through 2022

The advent of technology pushing enhanced capabilities in drones is constantly raising concerns over the existing regulatory framework. In the backdrop of having witnessed the use of drones in violation of safety, privacy, and national security, the commercial and consumer drone marketplace strongly demands stricter regulation across the globe – the US and UK governments being the pioneers here. As far as the norms related to drone in the EU member states are concerned, the regulation is still fragmented across the countries. By 2018 end, it is most likely that the EU will adopt a unified drone regulation for the member states, with joint efforts by EASA (the European Aviation Safety Agency). While governments are constantly supporting the initiatives by regulatory bodies and EASA, leading drone market stakeholders are strategizing partnerships with government entities to effectively address the biggest challenges ahead and spot the largest white space opportunities.

Global Drone Market Landscape: Competition Analysis

Drone market leaders such as DJI, Yuneec, and Parrot are prioritizing incorporation of autonomous flight features into their drone designs. They are also investing R&D efforts in sophistication of drone hardware targeting their new offerings. Strategic partnerships, being in the bandwagon of the competitive landscape of drone industry, is predicted to remain a key strategy among a majority of players unless the optimum productivity plateau is reached. Intel, DroneDeploy, 3DR, and Airmap have been actively into partnerships with tech leaders – revolving around combinations of software, hardware, and service based portfolios. Airware recently partnered with industry giants to enhance its mining and quarrying solution platform. PrecisionHawk and EagleView’s prudent partnership aims to transform the virtual claims inspection in insurance, commercial, and government sectors.

PrecisionHawk bagged in two acquisitions – Hazon Inc. and InspecTools Inc. for strengthening its drone inspection services in the energy domain. AgEagle also recently acquired Agribotix with an objective to enhance its service offerings with the latter’s advanced imaging and data technology expertise. The most recent announcement in the drone space, the abrupt shutdown of operations of San Francisco-based Airware, is foreseen to change the game for several other drone market participants in the long run. The precise impact on drone market is however yet to be predicted.

Santosh Kumar

Santosh Kumar is a respected voice in the ICT domain. He has authored over 30 studies pertaining to cloud, cybersecurity, AI, and Big Data.

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