Drone-based Volume Measurement Delivers Big Time-Savings to Mining | A Critical Insights by Fact.MR

Fact.MR recently published a market study on the global market for Drone. The study provides detailed assessment on key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the drone market structure. The market study presents exclusive information about how the market will grow during the forecast period of 2019-2029

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Key Prominent Players

Key companies in the global market for drone include

DJI, AeroVironment Inc

CyPhy works Inc.

3D Robotics

Sentra LLC

Agribiotix LLC

AgEagle Aerial Systems

Skycatch, Inc.

Airware

Precision Hawk Inc.

SenseFly SA.

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Drone or Unmanned Aerial Vehicles (UAVs) are frequently used for carrying out military operations. Nonetheless, these unmanned aircrafts are also being increasingly used for undertaking non-military affairs owing to their groundbreaking aerial capabilities. Unlike the traditional aircraft, drones can fly for longer durations. Moreover, they come in various price rang depending on the features. Demand for drones has been significantly high in recent years. As per a study conducted by Fact.MR the global drone market is expected to increase at an impressive CAGR of 22.8% during 2017 to 2022.

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Drones are considered as innovative aerial vehicles that have exceptional combat capabilities, which is why they are being used by various countries for defense purposes. Currently, drones are playing an important part in countering anti-social activities and terrorism. Growing demand for precision technologies is expected to favor the global market for drones in the near future. However, risk of accidents and technical failures remain a major concern for manufacturers.

This, in turn, is also acting as a bottleneck for the market and curtailing widespread adoption of drones. Further, stringent regulatory norms on drone use continue deter the growth of the market. North America is at the forefront of the global market. The region’s market is expected to remain highly lucrative throughout the forecast period, reflecting at a stellar CAGR in terms of value.

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Market Segmentation

Global Drone Market Analysis 2014-2018 and Forecast 2019-2029, By Product Type

Commercial Drone

Military Drone

Global Drone Market Analysis 2014-2018 and Forecast 2019-2029, by Payload

Upto 25 Kg

25 Kg - 150 Kg

150 Kg - 600 Kg

Above 600 Kg

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Global Drone Market Analysis 2014-2018 and Forecast 2019-2029, by Application

Aerial Surveying & Photography

Agriculture

Construction

Film and television

Border Security

Combat Operations

Search and rescue

Global Drone Market Analysis 2014-2018 and Forecast 2019-2029, by Region

North America

Latin America

Europe

Japan

APEJ

Middle East and Africa (MEA)

Following highlights from the Fact.MR’s forecast on the global market for drone is expected to assert the market’s future prospects

In terms of revenue, military drones are expected to account for the largest share of the market during the forecast period. In addition, this product type segment of the global drone market is estimated to surpass a multibillion dollar valuation towards the end of 2022. Meanwhile, the commercial drone segment is anticipated to stand at a little over US$ 6 Bn over 2022.

Drones with 25 kg - 150 kg payload are expected to witness strong demand throughout the assessment period. This payload segment is likely to cross a market valuation of US$ 3,839 Mn. Meanwhile. The 150 kg - 600 kg payload segment is projected to register the fastest CAGR over 2022.

On the basis of application, drones will be used mainly for border security purposes. The border security application segment is expected to contribute a large portion to the global drone market revenue.

By 2022-end, this segment is estimated to procure heavy revenues. In addition, this application segment is projected to gain 16 BPS from 2017 to 2022. Apart from military and defense, drones are increasing finding application is other sectors such as aerial photography, agriculture, construction, and film and entertainment

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