Knowledge Sourcing Intelligence announces the publication of a new report on “Global Commercial Drones Market - Forecasts from 2020 to 2025" to their offering.
Drones are unmanned vehicles which are used for photography, surveillance, flood mapping, forest fire monitoring, and soil moisture imaging along with other applications. According to the definition provided by the FAA (Federal Aviation Administration), commercial drone use is any use of a drone “in connection with a business”.
According to the report, the Global Commercial Drones Market is projected to increase at a CAGR of 24.77% over the forecast period 2019-2025.
Relaxation of regulatory policies regarding use of commercial drones
Global commercial drones market is majorly driven by the relaxation of regulatory policies regarding the use of drones across various regions/countries. In January 2019, the U.S. Department of Transportation proposed regulations to allow the drones fly over people as well as at night without a waiver. Also, it awarded three contracts to commercial service providers to develop a technology which provides flight planning, communications, and weather services for drones under 400 feet. Growing use of drones for photography is another major driver of commercial drones market. Commercial drone manufacturers are increasingly investing in R&D while launching new products in order to meet diverse demand of consumers across the globe. Rising awareness across the agricultural sector about various applications of commercial drones that could help to increase the yield is also a driving factor for the market growth of commercial drones worldwide.
North American region is anticipated to hold a considerable market share
Geographically, the North American region is expected to hold a significant market share over the forecast period. The major factors that support the notable share of this region include the early adoption of technology and the presence of a well-established infrastructure for commercial drone operators. Furthermore, the presence of key market players in the region also contributes to the growth of commercial drones market over the next five years. The Asia Pacific region is projected to show substantial market growth during the forecast period owing to the increasing use of drones across agricultural sector and for disaster management services. Recent COVID-19 pandemic outbreak has also positively impacted the adoption of commercial drones in APAC region as these devices are crucial in reducing human contact to prevent further spread of this virus. For example, Singapore has recently launched its first drone delivery service by taking vitamins to a ship. China is using drones to spray disinfecting chemicals in some public areas in order to reduce the transmission of this disease.
The major players covered as part of the report are DJI, Harris Aerial, Trimble, Inc., Parrot Drones SAS, PrecisionHawk, and 3DR among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/commercial-drones-market
This report has segmented the global Commercial Drones marketon the basis following segments