Growth Forecast To Be Over 109 Percent Annually

According to a new market research report, 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.

For the purpose of the report, the UAV Drone Market for Commercial is defined the unmanned air vehicles which are operated without direct human control and are guided by a remote control. The commercial drones industry has witnessed significant technological developments over the last few years.  The increase in demand for drones in law enforcement applications and technological advancement are the key drivers propelling the growth of the market. This market in the report has been categorized by products, namely fixed wing, rotary blade, nano, and hybrid. The rotary blade drone held the maximum share of ~72% of the overall UAV Drone Market for Commercial, as of 2014.

The report also covers the key application sectors of the UAV Drone Market for Commercial, which include law enforcement, energy and power, manufacturing, infrastructure, media and entertainment, agriculture, and scientific research. Among all the applications, law enforcement is expected to be the largest contributor to the overall commercial drones market.

The UAV Drone Market for Commercial for different geographic regions, including Americas, Europe, Asia-Pacific, and the Rest of the World (RoW), has also been covered in the report. The Americas comprised the largest market for commercial drones as of 2014 and are expected to grow at the highest CAGR among all the regions.

The 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" available from ASDReports,  profiles the major players along with their SWOT analysis in the UAV Drone Market for Commercial. The market has been witnessing a series of new product launch announcements and partnerships across the value chain. The key players in this industry include F. Airware Inc (U.S., Drone Deploy (U.S.), DJI (Shenzhen), Precision Hawk Inc (U.S.), SenseFly ltd (U.S.), 3D robotics (U.S.), VDOS Global (U.S.), Trimble UAS (Belgium), and AeroVironment (U.S.), and others.

FMI: Report Information