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A commercial drone is an unmanned aircraft system that is utilized for carrying out complex commercial operations for businesses and governments. There are various types of components that can be attached to the drones for carrying out specific tasks. Commercial drones can carry a higher payload, fly for a longer period, and they have advanced flight controllers and sensors. As it can be easily controlled from remote locations and reach normally inaccessible locations, it finds applications such as high altitude mapping, land surveying, media coverage, movie production, precision agriculture, real estate exploration, retail delivery, search & rescue operations, law enforcement surveillance and industrial surveillance among others.
Commercial Drones Market: Drivers and Restraints
Growing demand for drones for law enforcement, due to their advanced features that allow transmission of high-resolution images, videos and live surveillance data to the control rooms drive the growth of the global commercial drones market. Moreover, an increasing number of applications that benefit governments, such as disaster management, environmental studies, infrastructure monitoring, and research & development among others are motivating the growth of the global commercial drone’s market. Furthermore, increasing instances of drug trafficking, terror activities, criminal assaults are expected to further enhance the demand for commercial drones for surveillance. Availability of advanced systems for capturing images and recording videos at high resolutions such as HD and 4k is driving the demand for commercial drones in media, and movie industries. However, the apprehension about the misuse of drones for spying and other illegal activities among the public and governments is a restraint for the market. Furthermore, research and development and technological advancements in the sector are yielding more applications for commercial drones and it is expected to provide growth opportunities for the major players in the commercial drones market.
Commercial Drones Market: Regional Analysis
Among geographies, North America is the largest commercial drone market in the world. The presence of a large number of drone manufacturers and an increasing number of applications for drones in various sectors such as monitoring of cattle and irrigation equipment, precision agriculture, retail delivery, and surveillance are driving the growth of the North American commercial drones market. Europe is expected to be the fastest growing market in terms of CAGR over the forecast period. Favorable European Union regulations, growing demand from agriculture, law enforcement and some other sectors are driving the growth of the European commercial drones market. Increasing demand for commercial drones from countries such as Australia, China, Japan, and India for applications in sectors such as agriculture, construction and media & movies among others augments the growth of Asia-Pacific commercial drones market. A presence of a large number of drone manufacturers and exporters in Israel drives the Middle East commercial drones market.
Commercial Drones Market: Competitive Landscape
The report provides profiles of the companies in the market such as Boeing, Textron, 3D Robotics, Northrop Grumman Corporation, Lockheed Martin Corporation, Israel Aerospace Industries, Elbit Systems Ltd., DJI, BAE Systems plc, Aurora Flight Sciences, and AeroVironment, Inc.
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