3 Insights from Fact.MR's Drone Market Forecast
The commercial drone segment is projected to reach US$ 6,382.8 Mn towards the end of the forecast period.
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Following highlights from the Fact.MR's forecast on the global market for drone is expected to assert the market's future prospects
1. 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.
2. 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.
3. 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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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., and SenseFly SA.
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