Your Catalyst To a Lucrative Business
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 majorit y 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
Follow Us: