Global electric drone market is set to grow at a CAGR of 10% during the forecast period.
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The growing demand for surveillance drones and the rapidly increasing application of electric drones in spy missions, are the primary factors that drive the electric drone market. These unmanned vehicles aid in providing modernized, digital communication formats that are high on security and reliability. Also, these vehicles are equipped with payloads such as electro-optical/infrared sensors, camera, global positioning system (GPS), and electronic intelligence, which help in rapidly modernizing their communications equipment.
Electric drones are making huge impact on humans. They are a vital part of the commercial and civil sectors. When Amazon declared that it would use electronic drones for delivering products, the primary focus was to avoid traffic and ensure eco-friendly delivery. The distance coverd by Amazon vehicles was 10 miles. Such innovations are likely to drive the industry.
The farming sector has shifted towards drone technologies, introducing the analysis & surveillance of farms. The quality of crops & seeds and health of livestock are monitored using drones. These devices help contain crop damage, administer the water supply, & determine the harvesting period. Their other advantages include 360 degree farm images, long distance traveling, and under the cloud traveling.
Entertainment, film-making, & photography sectors are attracted to novel UAV devices. The unusual way in which these devices capture pictures & videos has driven the entertainment sector. More product advancements are likely to happen in the near future. These should help viewers better enjoy films, videos, & potshots. Initial heavy investments in technology manufacturing may restrict industry growth.
North America is expected to be the largest market by 2023, primarily due to the presence of established market players in this region. Over the years, extensive investments by the government and defense authorities in the North American region, has resulted in development of small, lightweight, and efficient electric drones, with relatively increased ranges. Apart from the recreational, scientific, and agricultural applications these electric drones are increasingly being used for various functions in the military. With the increasing surveillance applications, the usage of electric drones in military operations, is expected to increase significantly, during the forecast period.
Furthermore, these drones are being used for commercial and recreational purposes in the region, and the manufacturers are rapidly changing their marketing strategies in order to attract more customers as well as they are focusing on the development of more consumer friendly electric drones. Therefore, it is expected that the North American region would account for a XX% share of the global market, by 2023.
The key players of the global electric drone market are AgEagle (U.S.), Agribotix (U.S.) , Airinov (France), Festo(Germnay), Gamaya (Switzerland), Headwall (U.S.), LeddarTech(Quebec), MicaSense(U.S.), Novariant(U.S.), Parrot(France), senseFly (Switzerland), Shadow Robotics (U.K.), Trimble (U.S.), URSULA Agriculture (U.K,) , Yanmar (Japan) , and Yara (Norwat). In 2016, these players accounted for XX% share of the global market.
- Distributers & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
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