Albany - NY, Oct. 21, 2015 (GLOBE NEWSWIRE) -- Drones are unmanned aerial vehicle, primarily used to do tasks which involve high risk of human life. Commercial drones are extensively used in law enforcement search, surveillance and rescue, high altitude imaging, emergency response, forest fire monitoring, humanitarian aid, flood mapping, product delivery, photography and film industry, petroleum spill monitoring and internet connectivity. In addition, drones are also being used for environmental monitoring and mapping, hyper spectral imaging, soil moisture imaging, plume dispersion and tracking, in-situ atmospheric monitoring and aerosol source determination among others.
The major factors driving the growth of commercial drones market is the increasing demand of drones for commercial applications. In addition, increasing adoption of drones for enforcement of law is further fueling the growth of the commercial drones market. This is primarily due to the ability of drones for transferring high resolution images and video and other surveillance data in real time to base stations. Moreover, significant technological advancements including improved design and better data processing capabilities in the last few years is aiding the growth of this market.
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However, stringent government regulations for security and safety issues are posing as a major restraint for the growth of commercial drones market. Moreover, scarcity of trained pilots and lack of air traffic management systems is further retraining the growth of this market. Nevertheless, the market is expected to witness a significant growth during the forecast period primarily due to the increasing application of commercial drones for law enforcements.
The market is segmented on the basis of product type by: nano drone, hybrid drone, fixed wing drone and rotary blade drone and others. On the basis of technology, the market can be further segmented into: automation systems, collision avoidance systems, energy and propulsion systems, cyber-security and jamming, radio frequency spectrum capacity and communication data links and on-board data processing among others.
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The various applications of commercial drones primarily aims at mitigating risk of human involvement. Moreover, it also enables end users to save time and cost of operations. On the basis of application of commercial drones the market can be categorized into law enforcement, energy and power manufacturing, media and entertainment, scientific research, agriculture and infrastructure among others. The law enforcement application segment among others is expected to hold the largest market share during the forecast period.
Some of the key players in this market are: Hoovy Llc, Trimble Uas, 3D Robotics, Precision Hawk, Drone Deploy, Finmeccaniaca Spa, Turkish Aerospace Industries, Inc., Northrop Grumman Corporation, Aurora Flight Sciences, Lockheed Martin Corporation, Boeing Corporation, Aerovironment Inc, Thales Sa, Bae Systems Plc, Israel Aerospace Industries Ltd. (Iai), Textron Inc, Aeronautics Ltd., Elbit Systems, Safran Sa, Denel Soc Ltd. Denel Soc Ltd., General Atomic Aeronautical Systems Ltd., Airware Inc. DJI, Sensefly, and Vdos among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter's five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR's reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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Source:Transparency Market Research