December 12, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Civil Drone Market to 2027 - Global Analysis and Forecasts by Type (Fixed Wing Drone and Rotary Wing Drone); Platform (Hardware, Software, and Services); Application (Aerial Photography, Surveying & Mapping, Inspection, and Others); End-User (Agriculture, Real Estate/ Infrastructure, Energy and Power, Others)’, the worldwide civil drone market was worth USD 6.56 billion in 2018 and is estimated to grow with a CAGR of 14.3%, hence reaching USD 21.62 billion by the year 2027.
Rising adoption of drone technology in mining and agriculture industry is the major factor driving the growth of civil drone market. Moreover, growing adoption of drone technology in power and utilities sector, extensive use by civil services in smart cities is also augmenting the demand for civil drones. However, factors such as unfavorable federal reforms, operational hazards, and concerns over data security may hinder the growth of civil drone market.
As per product type, civil drone industry is categorized into rotary wing drones and fixed wing drones. Speaking of platforms, the market is classified into services, software, and hardware. Based on application spectrum, the market is bifurcated into surveying & mapping, inspection, aerial photography, and others. Speaking of end-user division, the market is grouped into real estate/infrastructure, energy & power, and agriculture.
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Elaborating on geographical outlook, the global civil drone market is divided into regions namely North America, South America, Middle East & Africa, Europe, and Asia-Pacific. The report cites that North America civil drone market held the largest regional share in 2018, owing to escalating investments in drone technology. Furthermore, growing digitalization and better economic landscape are also boosting the demand for civil drones across the region. On the other hand, Europe and Asia-Pacific markets are expected to grow substantially in the upcoming years.
The prominent companies operating in civil drone industry are Aerovironment, Inc., 3D Robotics, Inc., Drone Volt, Aeryon Labs, Inc., Insitu, Inc., ECA Group, Parrot SA, Intel Corp., SZ DJI Technology Co., Precisionhawk, Inc., and Yuneec International.
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