November 05, 2019
According to the latest study titled ‘Global Drones Market: Analysis By Type (Rotary Wing, Fixed Wing, Hybrid), By Application (Surveying, Agriculture, Mining, Construction, Entertainment, Others), End User (Military, Commercial, Consumer); By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region (Americas, Europe, Asia Pacific, ROW), By Country (U.S., Canada, U.K, France, Russia, China, Australia, India)’ available with Market Study Report LLC, the global drones market is estimated to grow with a CAGR of 43% through 2024.
Drones, also known as unmanned aerial vehicles (UAVs), are either manually controlled or autonomously via a computer program. Usage of drones in agriculture, construction, while surveying, aerial photography, monitoring oil and gas pipelines, etc. are some factors that propel the growth of the drones market.
Moreover, adoption of drones for commercial applications along with rising investments by different venture capitalist in the UAV space urging several start-ups to explore new opportunities are some of the prominent factors fueling the growth of this market.
The study examines the market for revenue shares of each segment and offers growth value. It identifies and analyses the emerging trends along with drivers, challenges and growth opportunities influencing drones market.
Based on type, drones market is segmented into fixed and rotary wing drones and hybrid drones. While based on application spectrum, the industry is split into agriculture, surveying, construction, mining, entertainment, and others.
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Considering the geographical landscape, the drones market is fragmented into four major regions, namely, Europe, Asia Pacific, Americas, and rest of the world, with key focus on countries, namely Canada, U.S., France, U.K, Australia, Russia, India and China.
Some of the vendors that operate in drones market are Lockheed Martin, AeroVironment, Parrot SA, SZ DJI, Autel Robotics, YUNEEC, Aeryon Labs, Insitu inc., Krossblade, Delair, and Nothrop Grupman.
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