Drone Market Size Expansion, Demand, Emerging Trends, Regional Overview and Fore

Posted by Preet on September 10th, 2019

With predominant applications in military, drone witnessed a safe and relatively cheaper inception owing to its superior capabilities over the manual military aircraft. More than 90 countries across the globe are flying military drones at present. While drone is being perceived as the future of warfare by industry experts, military drones are rapidly evolving as the most lucrative area for R&D.

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Defense departments and drone manufacturers are working hand-in-hand in an effort to achieve greater flexibility and endurance, in addition to desired autonomy. Although military and defense will continue to present the largest market to drone manufacturers throughout the foreseeable future, the recent past has been observing global drone market competition heating up at a rapid pace - eventually expected to transform the entire drone application scenario in the long run.

Post making a notable leap to the consumer retail market, drone is now believed to invade commercial and industrial domains as a powerful tool for disruption. Drone is gradually attaining the mainstream tag in the commercial sector owing to its exceptional data gathering and analytical capabilities. Experts reaffirm that within the next decade, current business models are likely to be disrupted by drone technology. Consumerization of the drone hardware will further provide a push to drone deployment by commercial entities in the near future.

Commercial drones with increasing flight times and payloads will continue to deliver highly secure systems that are anticipated to experience hefty adoption by commercial sectors such as agriculture, security, emergency response, and other businesses. Growing popularity of DaaS (drone as a service) model will enable the drone market revenue reach a new high, as businesses have already stepped in the game for gaining impeccable operational efficiency.

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The US and France are already utilizing drone for domestic policing; Victoria (Australia) is the latest in the league. With a critical objective to monitor and protect mass crowd at public events, sport stadiums, and festival venues, the Victoria Police recently announced their new three-year strategy that aims to counter terrorism. This strategy involve drones hovering over huge crowd to track both, those who are suspected and those who are susceptible to be radicalized. The students at Elite Institute (Sydney) are extending their expertise in decoding the communication amongst suspected terrorists, to help the police. Increasing critical emergency of security applications is anticipated to provide a strong impetus to drone adoption in the near future.

In 2017, Seville-based CATEC (Center for Advanced Aerospace Technologies) introduced a new drone in European market that specializes in highly efficient, safer, and affordable industrial inspections, which is otherwise a risky and cost-sensitive affair. The all-inclusive industrial pipe inspection services delivered by this sensor-equipped ultrasonic instrument have already covered a large number of oil and gas pipelines, and are expected to remain sought after within the industrial sector over the years ahead – In Europe and outside.

Several other innovations will continue to shape the future of drone market through 2022, one of which includes emergency response drones that deliver food and goods to disaster-afflicted responders. Another breakthrough - medical drone - includes the delivery of blood and other emergency healthcare products to remote locations. Moreover, a number of R&D efforts targeting introduction of electric drones with groundbreaking flight times are presumed to elevate the prospects for drone market in the near future. Research also identifies that novel innovation such as the drone that can be regulated with human thoughts will impart an entirely new dimension to the drone market space soon.