Thu, May 19, 2016
Expected To Expand At CAGR 27% Till 2021
A new report published by TechSci Research ... "Global Commercial Drone Market By Drone Type, By Application, By Region, Competition Forecast and Opportunities, 2011-2021" ... indicates that the rotary blade drone segment dominated the global commercial drone market in 2015, on account of its various technical features and benefits that enable these drones to perform intensely in photography, mapping, oil & gas sector and mining industry.
Moreover, continuing growth of the global mining market, which was valued at around $1.5 trillion in 2015 and is projected to grow at a Compound Annual Growth Rate (CAGR) of over 7% during 2016-2021, is expected to further boost the prospects of commercial utilization of drones in the mining sector over the next five years.
Rotary blade drones are designed to fly in all directions as well as hover at a fixed position. In 2015, these drone types accounted for a market share of over 75% in the global commercial drone market, due to their versatility and increasing application areas. The commercial drone market is projected to grow at a CAGR of 27% till 2021, with North America anticipated to continue its dominance as the largest commercial drone market through 2021.
Fixed wing drones, the other major drone type, are being widely used in precision agriculture and aerial mapping. Precision farming utilizes several technological advancements such as geo location tracking, data management, and crop health analysis in order to ensure better productivity as compared to conventional farming methodology.
Higher profitability and productivity, coupled with expanding global demand for crop yield are few of the factors poised to drive the global precision agriculture market at a CAGR of over 11% during 2016-2021, thereby propelling demand for drones used in the precision agriculture industry.
(Source: TechSci Research news release. Images from file)
More News
Very High Frequency The frequency band between 30 and 300 MHz. Portions of this band, 108 to 118 MHz, are used for certain NAVAIDs; 118 to 136 MHz are used for civil air/ground voi>[...]
Aero Linx: Aviation Suppliers Association Established February 25, 1993, the Aviation Suppliers Association (ASA), based in Washington, D.C., is a not-for-profit association, repre>[...]
Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]
From 2021 (YouTube Version): Colorado Campus Offers aVariety Of Aerospace Entertainment And Education Wings over the Rockies Exploration of Flight is the second location for the Wi>[...]
Also: Paramotor Champ's, Electric Ultralight, ICON BK Update, Burt Rutan at Oshkosh! The Popular Rotorcraft Association is reaching out for help in rebuilding their private runway >[...]