Commercial unmanned aircraft to reach $1.27 billion by 2020 say market analystsNews
March 11, 2015
Research analysts at ASD Reports say in a new report that the commercial unmanned aircraft, or drone, market was valued at about $15.22 million in 2014 and that it is expected to grow to $1.27 billion by 2020.
ASD Reports analysts was valued at $15.22 million in 2014 and is expected to reach $1.27 billion by 2020, at an estimated CAGR of 109.31% between 2014 and 202
The report, “Commercial Drones Market by Type (Fixed Wing, Rotary Blade, Quad Rotor), Technology (Energy & Propulsion System, Automation, Collision Avoidance), Application (Government, Agriculture, Manufacturing, Retail) & Geography - Global Forecast to 2020," states the market will have an estimated CAGR of 109.31 percent between 2014 and 2020.
(Pictured is the Qube UAS from Aerovironment.)
ASD Reports analysts say the increase in demand for unmanned aircraft is driven by technological advancements and increased use of these platforms in law enforcement applications. Within the report the market is categorized by products, such as fixed wing, rotary blade, nano, and hybrid. The rotary blade drone held the maximum share of about 72 percent of the overall commercial drone market, as of 2014.
The report also covers the application sectors such as energy and power, law enforcement, manufacturing, infrastructure, agriculture, media and entertainment, and scientific research. ASD Analysts say that law enforcement is expected to be the largest user of commercial drones.
According to ASD Reports key players are AeroVironment (U.S.), F. Airware Inc (U.S., Drone Deploy (U.S.), Precision Hawk Inc. (U.S.), SenseFly ltd (U.S.), 3D robotics (U.S.), VDOS Global (U.S.), Trimble UAS (Belgium), and DJI (China).
For more information on the report, visit www.asdreports.com.