Commercial drones market global forecast & analysis report categorizes market by type (fixed wing, rotary blade, quad rotor), technology (energy & propulsion system, automation, collision avoidance), application (government, agriculture, manufacturing, retail) & geography.
Dallas, TX -- (SBWIRE) -- 04/02/2015 -- According to a new market research 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", published by MarketsandMarkets, the total commercial drones market 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 2020.
Browse 79 market data Tables and 67 Figures spread through 188 Pages and in-depth TOC on "Commercial Drones Market".
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Commercial drones are the unmanned air vehicles which are operated without direct human control and are guided by a remote control. The commercial drones industry has witnessed significant technological developments over the last few years. The increase in demand for drones in law enforcement applications and technological advancement are the key drivers propelling the growth of the market. This market in the report has been categorized by products, namely fixed wing, rotary blade, nano, and hybrid. The rotary blade drone held the maximum share of 72% of the overall Commercial Drones Market as of 2014.
The commercial unmanned aerial vehicles include drones, unpiloted aerial vehicles, and remotely piloted aerial vehicles. The drones comprises a modern time alternative for tasks that pose a high risk for human life. Commercial drones are being extensively used in emergency response, law enforcement surveillance, search and rescue, forest fire monitoring, flood mapping, high altitude imaging, traffic monitoring, humanitarian aid, land use mapping, product delivery, film industry and photography, internet connectivity and chemical, along with petroleum spill monitoring. The drones are also being used for imaging and data collection activities such as natural hazards research and monitoring, environmental monitoring and mapping, in-situ atmospheric monitoring, hyperspectral imaging, sea ice flow observations, plume dispersion and tracking, soil moisture imaging, and aerosol source determinations.
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The global commercial drones market is estimated to grow at a CAGR of 109.31% to reach $1.27 billion by 2020. The UAVs have been evolving over the years with improved design, significant operating ranges and tenure, and better data processing capabilities. They can transfer high-resolution video and images, and other surveillance data to base station in real-time. The various applications of commercial drones not only help the end-user save big in terms of cost and time of operation but also mitigate the risk of human involvement. The commercial drone industry has also been expanding in applications such as retail industry, environmental surveillance, and the media and advertisement industry.
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