NEW YORK, Sept. 14, 2016 /PRNewswire/ -- The utilization of unmanned aerial vehicles (UAVs), also known as unmanned aircraft systems (UASs) or drones, for commercial applications has a great deal of potential to be explored and exploited. Companies, universities, and government agencies are all actively assessing the opportunity for drones to disrupt some industries and creative innovative business models in others. First, however, several factors need to be resolved for the commercial drone industry to truly take off. Three key factors are regulatory policy, public perception, and safety/privacy. In particular, regulatory bodies currently lag behind technological advances and market demand is already exerting significant pressure on government agencies to enact policy reform.
Tractica's research indicates that the two primary application markets in the commercial drone sector are aerial imaging and data analysis. Key industries that are driving the adoption of commercial drones include film, media, agriculture, and oil & gas. Market development remains nascent, however, with a large number of industry players pursuing the opportunity for commercial drones. In this dynamic and uncertain competitive landscape, the winners and losers have yet to be determined, and the industry continues to pursue the key applications that will drive market growth and produce tangible return on investment.