The global commercial drone market is being driven by the rising demand for unmanned aerial vehicles that can be used for various applications like deliveries, security, and surveillance, agriculture, etc. Unmanned aircraft systems are experiencing a healthy growth in the United States and around the world. According to FAA (Federal Aviation Administration), the commercial drone market value could triple in size between 2019 and 2023. While North America is the largest market for the product, the Asia Pacific region is expected to be the emerging market for the product over the forecast period.
The thriving e-commerce sector is leading to a rise in the trend of online delivery services. Thus, to fulfill the growing demand for online and timely deliveries, the courier and product delivery service giants such as Amazon.com, Inc. (NASDAQ: AMZN) and DHL are adopting drones to enhance their services. Such players are investing and making collaborations with other firms for implementing drones in the delivery of goods and services. Further, drones are also being adopted for entertainment purposes. In February 2019, Intel Corporation (NASDAQ: INTC), a leading player in the industry, collaborated with the NFL to create the first-ever live drone light show during Pepsi Super Bowl LIII Halftime Performance by deploying 150 Custom Intel Drones, illuminating the stadium, while, the installed Intel True View in 13 NFL stadiums, including Super Bowl LIII host Mercedes-Benz Stadium enabled immersive highlights of the game and enhanced the experience of the audience and fans. Such developments are expected to aid the growth of the commercial drone market globally over the forecast period.
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The major players in the global commercial drone market are Aeronavics Ltd., Draganfly Innovations Inc., Aeryon Labs Inc. Aero, AeroVironment, Inc., Ehang UAVs, Intel Corporation, Parrot Drones SAS, and PrecisionHawk, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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