Businesses Worldwide Are Exploring New Applications For UAVs

The global drone-powered business solutions market size is anticipated to reach $84.31 billion by 2025, according to a new report by Grand View Research, Inc. Drones have now moved past the hobby realm and are increasingly being used for a wide range of applications. Businesses across the world are exploring new applications of drones in their day-to-day operations.

Real-world applications for Unmanned Aerial Vehicles (UAVs) are expanding faster than ever across a broad range of industries, mainly due to the relaxation of some stringent regulations governing their use and robust investments. Responding to the rapidly evolving drone technology, various companies across the world are now creating new business and operating models for drone-based services.

The integration of drones into day-to-day business is presumed to significantly benefit agriculture, mapping and surveying, infrastructure maintenance, inspection, security & surveillance, and large-scale capital projects. Mining and insurance are expected to leverage the potential expansion of integrating drones into their operations to drive process improvement by gaining easy accessibility to high-quality data.

Businesses across the world are seeking to purchase data and information services rather than investing directly in the equipment. Innovative companies are rapidly exploring the usage of drones in aerial firefighting and emergency situations as well as to aid in the design of infrastructure and residential/commercial complexes.

According to the report:

• Commercial drones and their applications are expected to become the next big export product for many European companies.
• Drone service providers are now shifting their focus to data collection and processing due to limitations and difficulties in day-to-day data capturing operations, which, in turn, reduces the ability to scale business.
• Legislative and regulatory aspects of drone operations are presently the key factors propelling the adoption of drone-powered business solution by various organizations across the world.
• Bowing out of managing their in-house fleets of drones has been observed as an emerging trend among organizations. Instead, organizations are contracting with third-party service providers under the Drone as a Service (DaaS) license.
• Poland was the pioneer to roll-out a legislation regarding the commercial application of drones, including insurance regulations, rules for Beyond Visible Line of Sight (BVLOS) flights, and required training for pilots, followed by Singapore and South Africa.

(Source: Grand View Research news release. Image from file)

FMI: www.grandviewresearch.com