The global civil drone market was valued at US$ 6.56 Bn in 2018 and is expected to reach US$ 21.61 Bn by 2027 with a CAGR growth rate of 14.3% in the forecast period from 2019 to 2027.
The spending on the civil drone is quite high in both developed and developing regions such as North America, Europe, and the Asia Pacific. The demand for the civil drone is expected to grow further during the forecast period of 2019 to 2027. Rising digitization and positive economic outlook are some of the major macroeconomic factors driving the growth of the civil drone market. The civil drone is turning more into the global business, and various large players can offer civil drone globally. Presently on a global scale, industry verticals such as agriculture, real estate/infrastructure, and energy & power are the major contributors in civil drone spending.
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Global Civil Drone Market – Company Profiles
- 3D Robotics
- Aerodyne Group
- AeroVironment, Inc.
- DRONE VOLT
- ECA Group
- Insitu, Inc.
- Intel Corporation
- SZ DJI Technology Co., Ltd
- Yuneec International
The global market for the civil drone is segmented into five major regions, including North America, Europe, Asia Pacific, Middle East, and Africa and South America. In 2018, North America held the leadership position in the civil drone market with a 33.3% share of the overall civil drone market. Asia Pacific and the Europe held the second and third position in terms of civil drone market share.
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The mining industry, which has conventionally stayed away from the adoption of technological revolutions, is now banking on Industry 4.0 and allied technologies such as Analytics, Cloud, Artificial Intelligence (AI), and Internet of Things (IoT) to report a whole gamut of challenges. Macroeconomic factors such as economic downturn, stringent regulations, price volatility, supply-demand fluctuation, and environmental authorizations. Simultaneously, mining companies are also considering to overcome microeconomic factors related to safety, security, and hazardous mining conditions to ensure the health, of their workforce. Even though deep rooted drone implications are yet to gain the sustenance of the industry, many companies have started using civil drones to alleviate the risks rising out of hazardous working environments at the mines and production sites.
The civil drone market on the basis of application is segmented into aerial photography, surveying & mapping, inspection, and others. Others include surveillance & monitoring, education, and technical services. Aerial photography remains the prominent revenue generator throughout the forecast period. Further, surveying & mapping segment is anticipated to grow at the fastest rate.
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This post was originally published on The Picayune Current