Market Highlights
Growth Of The Global Smart Commercial Drone Market can be attributed to the increasing adoption of 3D printing for manufacturing drone parts and the rising use of smart drone cameras in the oil & gas, agriculture and forestry, and construction industries. However, stringent government regulations regarding drone use and the limited flight range are factors that are expected to hinder the market growth. For example, in the US, a commercial remote pilot certificate from the Federal Aviation Administration (FAA) is required to fly drones for commercial purposes.
The global smart commercial drone market has been segmented based on type, application, component, and region.
On the basis of type, the global smart commercial drone market has been divided into fixed-wing, multi-rotor, and others. The fixed-wing segment is expected to account for the largest market share and register the highest CAGR during the forecast period of 2019 to 2024. The fixed-wing drones offer high endurance, long flight range, low cost, and customization, which is driving the growth of this segment.
growth. For example, in 2018, DJI and Microsoft Corp. announced a strategic partnership to bring advanced AI and machine learning capabilities to DJI drones, helping the businesses to harness the power of commercial drone technology and edge cloud computing.
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Key Players
The key players in the global smart commercial drones market are 3D Robotics, Inc. (US), Elbit Systems Ltd (Israel), Israel Aerospace Industries (Israel), HUVRData, LLC (US), PrecisionHawk, Inc. (US), DJI (China), Parrot Drones SAS (France), Ascending Technologies GmbH (Germany), XAIRCRAFT Technology Co. Ltd (China), Zero UAV (China), Intelligence Technology Co. Ltd (US), AeroVironment, Inc. (US), Yamaha Motor Company Limited (Japan), and Draganfly Innovations Inc. (Canada).