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Commercial Drones Market - Next-gen Drones to Perform More than just Surveillance: MRRSE

Albany, NY, May 19, 2016 (GLOBE NEWSWIRE) -- According to the report, the unmanned aerial systems market, as a whole, is set to grow to reach a value of US$4.8 billion in 2021, from its 2014 value of US$608 million.

Geographically, the global commercial drones market is showing promising growth rates in the regional segments of Europe and North America. According to the report, the U.S. commercial drones market could earn a revenue of US$14 billion between 2015 and 2018. The U.S. segment alone will create over 100,000 jobs within the next decade.

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Commercial drones or unmanned aerial vehicles (UAVs) have the ability to maneuver and efficiently carry out aerial activities using their advanced visualization and navigation systems integrated within the drone units. Equipped with high-definition cameras, commercial drones use visualization for activities such as inspection, mapping, surveillance, or package delivery. Due to their ability to offer accuracy and agility in industry and commercial operations, commercial drones find its use in a variety of consumer and commercial applications. They are especially used in remote aerial surveys and SWAT operations.

The ‘Association for Unmanned Vehicle Systems International’ (AUSVI) estimates that commercial drones could pump approximately US$14 billion into the U.S. economy between 2015 and 2018, and create more than 100,000 new jobs in the next 10 years.

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The demand for commercial drones is high in fields such as law enforcement, manufacturing, military, sports, media and entertainment, scientific research, energy and power, and infrastructure. The oil and gas industry, border patrol, utilities, police departments, and defense industry are a few major fields using commercial drones for various purposes.

Geographically, several countries in Europe are growing well in terms of adopting and integrating commercial drones into their own airspace policies. However, not all countries are embracing the adoption of commercial drones due to their regional rules and regulations.

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AeroVironment is the leading commercial drone company and the first to fly drones over land. Recently, British Petroleum (BP) selected AeroVironment’s Puma AE drones for conducting operations like 3-D mapping in the harsh environments of Alaska. Other prominent drone companies such as Lockheed Martin and Northrop Grumman have also captured the commercial drones market with their valuable portfolio of drone products. Some of the drones recently introduced by Lockheed Martin are RQ-170 Sentinel, Fury, Indago, and K-MAX.

Although, commercial drones are poised to become a large global business by 2021, there are some factors restraining the growth in this market. These include the growing concern for security, privacy, and safety along with stringent government regulations.

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Source: MRRSE