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UAV and Drone Industry Outlook: Analysis and Predictions for 2018

The global commercial drone market size was estimated to be USD 552 million in 2014 and is expected to grow at a CAGR of 16.9% over the forecast period. Increased applications in agriculture and law enforcement sectors are expected to favourably impact the market over the forecast period. These are also called Unmanned Aerial Vehicles (UAVs) and include remotely piloted and unpiloted aerial vehicles. These UAVs find applications in various industrial verticals which include military, homeland security, agriculture, and retail. Demand is significantly higher for military applications, although commercial applications are gradually catching up.

Favourable government initiatives and building retrofits are expected to be the key growth factors for the European market. Moreover, the demand for UAVs is expected to gain traction in Asia-Pacific. Australia, along with Asian countries such as Japan, has focused on the use of UAVs for agricultural purposes.

E-commerce and retailing industries have been working on using such UAVs in order to deliver products to customers in the shortest possible time.

According to BI Intelligence, sales of drones to surpass $12 billion in 2021, most of this will occur across the three main segments of the drone industry: Consumer Drones, Enterprise Drones (also known as Commercial Drones), and Government Drones. UAV & Aerial Mapping future looks bright. 2018 will actually produce an increase in demand for UAV providers.

Source:.Grand View Research

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