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Mon, Jul 13, 2015

Report: Commercial UAV Market Worth $1.27 Billion By 2020

Annual Growth Rate Forecast To Be Over 109 Percent

According to a new market research report "UAV Drone Market for Commercial by Type (Fixed Wing, Rotary Blade, Quad Rotor), Technology (Energy & Propulsion System, Automation, Collision Avoidance), Application (Government, Agriculture, Manufacturing, Retail) & Geography - Global Forecast to 2020", published by MarketsandMarkets, the total Commercial UAV Market was valued at $15.22 Million in 2014, and is expected to reach $1.27 Billion by 2020, at an estimated CAGR (Compound Annual Growth Rate) of 109.31% between 2014 and 2020.

The market includes unmanned air vehicles that are being developed for various commercial applications.

The commercial UAV market is expected to witness a prominent growth and is expected to scale up to $1.27 Billion by 2020, growing at a CAGR of 109.31% between 2014 and 2020, according to the report. With about 72% share in the overall, the rotary blade segment is expected to be the major contributor to the overall market. The segment is expected to reach $970 Million by 2020, at a CAGR of 110.61% between 2014 and 2020.

The market is highly diversified with a large number of companies that include mid-tier organizations and start-up firms such as Airware (U.S.), Parrot (U.S.), 3D Robotics (U.S.), and DJI (China) among others. The UAV Drone Market for Commercial is highly regulated; the companies need to undergo an approval cycle before using drones for commercial purposes. DJI held the leading position in the market in 2014. The company specializes in drone technology, as well as in designing and manufacturing easy to fly drones, that are specially used in aerial photography applications. The company offers Quadcopters such as Phantom that are used in consumer drone applications. In addition, in November 2014, DJI announced the release of the Inspire 1 drone, the world's first flying 4K camera that offers midair transformation as well as a built-in wireless HD video transmitter, and stabilization indoors without GPS.

3D Robotics and SenseFly Ltd. were also among the top leaders in the market in 2014. The 3D Robotics Company is primarily engaged in designing, manufacturing, and selling drones across the world and operates engineering facilities in San Diego, sales and marketing in Austin, Texas, and manufacturing in Tijuana, Mexico. Its product portfolio comprises software platforms such as Droneshare, Mavlink, and DIY drones. The company is engaged in the acquisition and partnership strategy to expand its presence in the drone market. For instance, it acquired Sifteo (U.S.), which mainly deals with the gaming industry. SenseFly Ltd. is a subsidiary of Parrot SA (France). It is involved in developing and manufacturing autonomous ultra-light unmanned aerial vehicles and other related software solutions. The company has developed the ebee RTK which is a surveying and mapping drone that can collect aerial photography and produce 3D models.

FMI: www.marketsandmarkets.com

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