The market for unmanned aerial vehicles (UAVs), commonly known as a drones, is starting to realize its potential for commercial applications. Major players in many industries and government agencies have already taken the first steps to evaluate drone solutions and systems, according to a new report from Tractica.
The demand for commercial drones is being driven by such factors as expanding industry use cases, affordable hardware and services, high definition (HD) aerial imaging and sensing, integrated data intelligence, and the rapid ROI that drones provide to major industries. Tractica forecasts that the commercial drone market will continue growing rapidly over the next few years while providing significant opportunities to various industry participants, reaching global revenue of $13.7 billion by the end of 2025.
“The commercial drone market is focusing on core solutions where drones clearly excel,” says senior analyst Glenn Sanders. “The ability to demonstrate such effective solutions is the key determinant of which companies are likely to achieve long-term leadership and which may fall by the wayside. Now is the time for the companies to perfect their products and gain momentum, mindshare, and market share.”
Tractica’s report, “Drones for Commercial Applications”, examines the market and technology issues surrounding commercial drones and presents 8-year revenue forecasts for the industry from 2018 to 2025. The report discusses crucial market drivers, challenges, and regulatory issues, in addition to assessing the most important technology issues that will influence market development. In total, the top 25 major industry players are profiled, organized by hardware makers, flight management and drone services, data and analytics services, and delivery companies. An information bank of 201 key and emerging companies is included in the company directory. Market forecasts are segmented by world region, airframe type, industry, application, and customer type. An Executive Summary of the report is available for free download on the firm’s website.