BANGALORE, India, Nov. 6, 2019 /PRNewswire/ -- GLOBAL DRONE MARKET OVERVIEW:
"Global Drone market size is expected to grow to USD 13.37 Billion by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 13.70%."
Drone or UAV (Unmanned Aerial Vehicles) are finding increasing application across the entertainment, farming, and energy sectors, which is expected to have a positive impact on market growth. Initially regarded as a military device, over the past few years, drones have established a significant presence in the business world.
Drone manufacturers and providers are developing custom-made industry-specific solutions to address their customers ' business needs effectively. Advances in drone technology have enabled producers to create a wide variety of designs in various dimensions, weights, and shapes that can carry distinct sensor payloads, making them helpful across a broad application base.
This report covers four main sections: competitor segment, product type segment, end-user / application segment, and geography segment. Furthermore, the report breaks down the drone market into three divisions(Small-scale, Medium-sized, Large) based on its type.
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FACTORS DRIVING THE DRONE MARKET SHARE:
- Ability to perform dangerous duties with greater accuracy and cost-effectiveness compared to standard techniques, such as inspection of utility pipelines
- Implementation of commercial drone services
- Formulation of regulatory policies for optimal use of drones and increasing awareness of UAVs
REGION WISE INSIGHT & TRENDS INTO THE DRONE MARKET
- North America accounted for the largest revenue of drone market share in 2018 and is expected to continue to lead over the next six years as a result of favorable government initiatives, to advance drone technology coupled with growing business demand for drone-acquired data.
- It is anticipated that Asia Pacific will experience the fastest CAGR in the next six years in the drone market. Countries like Singapore, Thailand, Indonesia, China, Hong Kong, Japan, and Malaysia are increasingly embracing the drone technology across a wide range of industries to counteract rising labor costs.
- The greater effectiveness of drones relative to manual labor is anticipated to drive their acceptance across the area for specific duties, especially in the agricultural industry. Increasing political tensions among many Asian nations are expected to increase demand. This is because UAV provides a flexible way to attack and observe the enemy from any geographic area without being tracked. As a result, these UAV work in their RADAR to increase their effectiveness.
- Aerial photography in the Asia Pacific area is expected to be the most profitable use of drones. It accounted for a market share of more than 30 percent. Drone market growth is credited with the increasing acceptance of drones for the purposes of aerial photography and imaging. The drones are widely being used for filming, videography, and photography in media & entertainment companies due to their cost-effectiveness, convenience, and ease of use.
- Demand for drones is anticipated to increase in the Middle East and Africa, especially in inventory management and tracking apps across the region's well-established oil and gas and utility sector. Also, drones for pipeline inspection and maintenance applications are increasingly being adopted by the regional oil and gas sector. Drone adoption is gaining momentum mainly within the medicine and agriculture sectors in the African nations.
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SEGMENTS AND CLASSIFICATION
To provide a competitive edge, the global drone market report classifies the overall drone market into three segments
Segments in the Global Drone Market based on the type
Segments in the Global Drone Market based on the End-User
Segments in the Global Drone Market based on the region
- North America
- United States
- South Korea
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- GCC Countries
- South Africa
Consideration is also given to key countries in each region, such as the United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil, etc.
TOP COMPANIES IN DRONE MARKET
Some of the featured companies discussed in this report are,
- The Boeing Company
- General Atomics
- Lockheed Martin Corporation
- Northrop Grumman
- Prox Dynamics AS
- Denel Dynamics
- Israel Aerospace Industries
- General Dynamics Corporation
WHAT THE GLOBAL DRONE MARKET REPORT HAS TO OFFER:
In this report studies, players/brands, area, type, and implementation categorize the worldwide drone market. This study also looks at global market status, competitive landscape, market share, growth rate, future trends, market drivers, possibilities and difficulties, marketing channels, retailers, and Five Forces Analysis by Porter.
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Global Agricultural Drone: https://reports.valuates.com/market-reports/MICR-Cons-4A11/global-agricultural-drone
Global Industrial UAVs (Drone) market: https://reports.valuates.com/market-reports/QYRE-Auto-488/global-industrial-uavs-drone
Global Smart/Intelligent Commercial Drone: https://reports.valuates.com/market-reports/QYRE-Auto-35I117/global-united-states-european-union-and-china-smart-commercial-drone
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Global Drone Defense System Market: https://reports.valuates.com/market-reports/QYRE-Auto-29X130/global-united-states-european-union-and-china-drone-defense-system
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