US commercial drones market to Witness a Massive Growth | CAGR of 14.6% from 2020 to 2027

The U.S commercial drones market was valued at $824.0 million in 2019, and is projected to reach $2,333.82 million by 2027, registering a CAGR of 14.6% from 2020 to 2027.

Aircrafts that have the capability to fly autonomously with the help of an embedded program or which can be remotely operated from ground by a pilot are called as drones. Commercial drones are unmanned aerial aircrafts that are designed for commercial applications such as risk mitigation, resource planning, research & excavation, urban planning, engineering, farming management, tourism, aerial imaging, LiDAR applications, cargo management, weather monitoring, traffic control, green mapping, and others. These applications are utilized by several sectors such as agriculture and environment, media & entertainment, energy, government, and others as business solutions.
Increase in market for technologically advanced products, promising growth rate of the drone market and increased market for location-based services supplements the market towards growth. However, privacy and security concerns and high-resolution satellite imagery are expected to hamper the growth of the U.S. commercial drones market. Moreover, increased application areas for GPS, LiDAR, mapping services & others and increasing growth in smartphone market have created ample opportunities for the market growth.

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The U.S. commercial drones market is segmented based on type, application and connectivity solution. Based on type, it is classified into fixed wing drones, rotary bade drones, and hybrid drones segment. Commercial drones have witnessed a rise in its adoption due to advancements in technology and increased adoption of mapping solutions. By application, the market is segmented into, agriculture and environment, media and entertainment, energy, government, construction & archaeology, and others. Based on the connectivity solution, the U.S. commercial drone market has been categorized into cellular network, global positioning system (GPS) and others.

Key players profiled in this report include AeroVironment, Inc., SZ DJI Technology Co., Ltd., Parrot SA, 3D Robotics, Inc., Leptron Unmanned Aircraft Systems, Inc., PrecisionHawk Inc., Yuneec International Co. Ltd., Aeryon Labs Inc., Trimble Navigation Ltd., and Insitu Inc.

Technologically advanced products
There has been a rise in the demand for commercial drones due to their advanced features such as high resolutions cameras and advanced sensors systems. This has enabled key industry players to improve their product portfolio with advanced technologies. Some of the popular drone cameras with advanced sensors are Aeryon HDZoom30 by Aeryon Labs Inc., SAFIRE series by FLIR Systems, Inc., Zenmuse Series by SZ DJI Technology Co., Hero Series by Go Pro, Inc., which have advanced features such as micro four thirds system, voice control mechanism, shortwave infrared (SWIR) sensors, and others. Moreover, companies such as Elbit Systems Ltd., GoPro, Inc., Israel Aerospace Industries Ltd., FLIR Systems, Inc., Aeryon Labs Inc., and others have advanced products in their UAV segment. For instance, Mantis i45 uses ultra-high-resolution EO and IR imagers, latest low-light camera, and high-power illuminator and is equipped with on-board facility for high-definition video storage and an on-board image processor. FLIR Systems, Inc. is one of the leading developers of thermal imaging cameras and other drone sensor systems such as SAFIRE series, MERLIN intelligence suite, Corona 350, and others that are used for UAS. GoPro, Inc. develops the most differentiated range of cameras and mounting accessories such as Hero camera that contains voice control and advanced video stabilization feature. Continuous innovation and introduction of cost effective products is expected to further stimulate the market growth.

Promising growth rate of the drone market
The factors such as technological advancements in the industry and increased application areas such as precision agriculture, aerial imaging, cargo management, traffic monitoring, and others trigger the growth of drone market. Although the market is currently in initial growth stage, it is expected to generate high demand in the next few years. According to the recent report released by Federal Aviation Administration, the global sales of drones are expected to cross 2.5 million units by the end of 2016 and 7 million by 2020. Moreover, the industry has witnessed the entry of a number of new firms in the market such as Lily Robotics Inc. (2013), SkySafe (2015), and others. In addition, drone manufacturers are funded to develop advanced products.

High-resolution satellite imagery
Increasing adoption of satellite imagery can limit the growth of the commercial drone market. Satellite imaging possesses an added advantage of government permissions, as most of the projects are government funded. Moreover, satellite imaging provides wider geographic reach, detailed information, and higher resolution images as compared to imaging done through drone. Satellite imaging is increasingly being used for green mapping, monitoring archaeological excavation sites, geospatial data collection and mapping, monitoring vegetation and land surfaces, and others. Continuous innovations in the field of satellite imaging and advanced commercial satellites are expected to lead to cost-effective satellite imaging solutions in the market. Worldview series, Landsat series, SPOT series, ALOS series, QuickBird, and IKONOS are some of the popular examples of commercial satellites providing satellite imaging. DigitalGlobe, Inc., Airbus, DS GmbH are some of the prominent companies in the market. Thus, satellite imaging can be a technologically restraining factor for the market. These restraining factors are expected to deter the growth of the market severely.
Increased application areas for GPS, LiDAR, mapping services, and others
Growth of the commercial drone market is supported by increased applications among various sectors such as green netting, estimation of crop health in a particular area, estimation of soil productivity and chemically affected areas, GIS services, conservation of forests, water resource management in agriculture & forestry, and others. Energy & resource management uses drones for estimation of land cover maps, vegetation maps, soil maps, and geology map. Drones are swiftly gaining popularity among farmers due to the increasing demand for real-time crop monitoring, and field surveillance. Trimble UX5 and eBee Ag are some of the highly advanced drones used in agriculture. These offer high data accuracy, reverse thrust for precise landing, and high image capturing quality. In civil engineering, drones are required for resource mapping, evaluation of geological information, and estimation of suitable conditions for building planning and construction activities. In addition, the media & entertainment, insurance and tourism industries have wide area of application for the commercial drone market.

KEY MARKET SEGMENTS
By Type
o Fixed wing drones
o Rotary bade drones
o Hybrid drones
By Application
o Agriculture and Environment
o Media and Entertainment
o Energy
o Government
o Construction & Archaeology
o Others
By Connectivity Solution
o Cellular Network
o Global Positioning System (GPS)
o Others

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