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What commercial drone market will be worth

What commercial drone market will be worth
What commercial drone market will be worth. Frost Sullivan 39;s recent
<p><strong>Frost &amp; Sullivan&#39;s recent analysis,&nbsp;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,&nbsp;North America&nbsp;will remain the largest market for commercial UAS with a total of 32.3% unit demand, followed by APAC and&nbsp;Europe&nbsp;at 29.1% and 23.3%, respectively.</strong></p> <p><strong>&quot;Unit growth is driven by increasing regulatory support for commercial drone use in the APAC region, especially&nbsp;India,&quot; said&nbsp;Michael Blades,&nbsp;Aerospace, Defense, and Security Vice President&nbsp;at Frost &amp; Sullivan. &quot;There is also a significant increase in demand for professional segment drones to conduct crop spraying in&nbsp;China&nbsp;and other countries in APAC. Drone services companies tend to focus on specific verticals because a &#39;one-size-fits-all&#39; 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.&quot;&nbsp;</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.&nbsp;</p> <p>Vendors should take a close look at unlocking the following opportunities:</p> <ul> <li>India&#39;s&nbsp;move to lift a commercial drone ban: Vendors should penetrate this lucrative market by providing hardware, software, and other relevant services.&nbsp;</li> <li>Sensor/data fusion:&nbsp;UAS platform providers should work with sensor providers and software developers to integrate sensor/data fusion capabilities into their products, ensuring accuracy.&nbsp;</li> <li>New drone platforms:&nbsp;Drone control software providers will emerge to develop solutions that can easily support these innovative platforms.&nbsp;</li> <li>Repair and maintenance:&nbsp;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&nbsp;is the latest addition to Frost &amp; Sullivan&#39;s&nbsp;Aerospace &amp; Defense&nbsp;research and analyses available through the Frost &amp; 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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