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USD 38.7 million in 2014 and is projected to witness highest growth rate over the forecast period. This spur
can be addressed to its portability and efficient application in security and photography activities
Browse Details of Report @ https://www.hexaresearch.com/research-report/commercial-drone-market
Event organizers are increasingly using drones for safety and proper crowd management. Growing
usage in law enforcement activities is projected to fuel the demand. It is mainly used to gather
evidence and also investigate crime scenes by capturing high definition videos as well as photos.
Strict government norms regarding safety and privacy concerns are anticipated to hinder the industry
growth. Scarcity of trained pilots in the industry owing to lack of training and career opportunities pose
as a key challenge to the industry demand. Commercial drones are anticipated to witness significant
growth opportunities due to increasing demand from agriculture industry for crop management to
augment yields.
Key report insights suggest:
- Global commercial (UAV) drone market was valued at USD 552.0 million in 2014 and it is likely to
reach USD 2,069.6 million by 2022 growing with an estimated CAGR of 16.9% from 2015 to 2020.
- North America captured majority of the market share and dominated the regional demand owing to
high production and increasing applications in commercial sectors. Asia Pacific was valued at USD
117.8 million in 2014. The region is expected to witness significant growth due to prominent use of
drones for agricultural purposes.
- Agriculture accounted for 24.13% of the overall industry share in 2014. It is projected to be valued at
USD 557.8 by 2022 owing to crop monitoring activity for enhancing yield. Government sector was
value at USD 245.4 million in 2014. It is likely to reach USD 846.1 million by 2022 growing at a CAGR
of 15.6 % from 2015 to 2022 over the forecast period.
- The commercial drone industry consists of top three participants occupying majority of the industry
share. DJI Innovations dominated the industry with over 43% share in 2014. Key industry players
encapsulate Parrot SA and AeroVironment Inc among others.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/electronic-
security-systems-industry
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