Drones news
What commercial drone market will be worth
<p><strong>Frost & Sullivan's recent analysis, Global Commercial UAS Market Outlook, 2020, finds that the industry is transitioning from a nascent to a growth stage. With the surge in demand for commercial drones by the professional segment, unit shipment is estimated to rise at a compound annual growth rate (CAGR) of 4.5%, reaching 2.91 million units by 2023 from 2.44 million units in 2019. By 2023, North America will remain the largest market for commercial UAS with a total of 32.3% unit demand, followed by APAC and Europe at 29.1% and 23.3%, respectively.</strong></p>
<p><strong>"Unit growth is driven by increasing regulatory support for commercial drone use in the APAC region, especially India," said Michael Blades, Aerospace, Defense, and Security Vice President at Frost & Sullivan. "There is also a significant increase in demand for professional segment drones to conduct crop spraying in China and other countries in APAC. Drone services companies tend to focus on specific verticals because a 'one-size-fits-all' business model does not work. Further, as companies gain experience through operations, those that can best innovate to meet specific end-user needs will prosper." </strong></p>
<p>Advanced technologies such as artificial intelligence (AI) for both autonomous flight and data processing, as well as platforms that have unique capabilities such as long endurance flights and conducting indoor/confined spaces inspections, are key trends inflating market growth. </p>
<p>Vendors should take a close look at unlocking the following opportunities:</p>
<ul>
<li>India's move to lift a commercial drone ban: Vendors should penetrate this lucrative market by providing hardware, software, and other relevant services. </li>
<li>Sensor/data fusion: UAS platform providers should work with sensor providers and software developers to integrate sensor/data fusion capabilities into their products, ensuring accuracy. </li>
<li>New drone platforms: Drone control software providers will emerge to develop solutions that can easily support these innovative platforms. </li>
<li>Repair and maintenance: As enterprise adoption continues and more businesses invest in high-value drone platforms and subsystems, there will be an increasing need to repair this equipment. Vendors involved in this segment can tap into this opportunity by partnering with hardware manufacturers.</li>
</ul>
<p>Global Commercial UAS Market Outlook, 2020 is the latest addition to Frost & Sullivan's Aerospace & Defense research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.</p>
4/9/2020
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