Drone is a term used to describe unmanned aerial vehicle (UAV) or aircraft without a pilot in space. The Drone is made up of low weight material, which helps in reducing its weight. The drone’s controller is, made up of electronic chipset and sensor. The drone and the controller are connected to each through Global Positioning System (GPS). Earlier, the drones was restricted to the military application such as surveillance, owing to increasing drone’s application it is widely adopted by other sectors for instance, Amazon.com, Inc., an e-commerce company used drones to transport products refining their delivery procedures.
Drones assist in providing the last mile delivery to the end-user in an improved way. Owing to the which, the drones are widely adopted in logistics application. Apart from providing optimization, such drones also assist in reducing cost, which is other key parameter driving the growth of the drone market in logistics & supply chain manufacturing. For illustration, UPS, a courier service company is using drones to deliver the package in a residential area.
Being in less hurry, drones are making time to time transfers of life saving medications. As a result, the drones are now being deployed in healthcare industry, thus driving the growth of the drone market in healthcare industry. For instance, Zipline Medical, Inc. a U.S. based company, has deployed drones to make deliveries of life-saving medications.Drones are transforming many industries owing to their exclusive inflight view, which helps in high-quality photographs & videos, making 3D maps, live streaming, surveillance & security management, , infrastructure development survey. This unique aerial view is used in military, media & entertainment, real estate, agriculture, and government, thus driving the growth of the market. Technological progressions in drones may give companies unmatched benefits. For instance, drone’s addition with the IoT is expected to showcase new business opportunity in the approaching years. Due to which, the industry is expected to grow in coming years.
Flight time along with weight carrying capacity are two restraints hampering the growth of the market. To deal with this, Griff Aviation, a player in commercial drone market is developing a drone fleet which can transport up to 100kgs of load over the period of 30 minutes and likewise many players are working on improving effectiveness of drone.Increase in the number of drones for commercial purposes may eventually increase the air traffic, owing to which aviation department of U.S. and India have led down strict rules in weight caring capacity with respect altitude of drones.
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Segmentation of global drone market can be done on the basis type, application, vertical and geography. Based on type, the market is further bifurcated into multirotor, fixed wing, single rotor helicopter and fixed wing hybrid. Based on application, the market if further bifurcated into search & security, surveying & mapping, aerial photography & video, and carriers. Based on vertical, the global market can be further bifurcated into logistics & supply chain, agriculture, real estate & construction, media & construction, military& government. Based on geography, the global drone market is further bifurcated into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.
Major players in drone market are Parrot Drones SAS, 3D Robotics, Inc, DroneDeploy, Dragonfly Innovations Inc., Aeryon Labs Inc. and others. Mergers & acquisition would be a strategy adopted by the players to exploit their market share in the market. For illustration, Parrot Drones SAS assimilated few companies, such as MicaSense, senseFly SA, and Pix4D. Growing drone market has fascinated new players to come into the drone market. For illustration, in October 2017, Boeing. Which is an aircraft manufacturing company acquired Aurora Flight Sciences, the acquisition targets to develop drones with carrying capability of up to 200 kgs.
The Global Drone Market can be segmented
• Fixed wing
• Single rotor helicopter
• Fixed wing hybrid
• Search & security
• Surveying & mapping
• Aerial photography & video
• Logistics & supply chain
• Real estate & construction
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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