Commercial drone market set for steady growth until 2022

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Increased drone usage across agriculture and law enforcement is set to drive continuous growth across the commercial drone category for the next four years, new research suggests.

The global commercial drone market size was estimated to be worth $552m (£410m) in 2014 and is projected to reach $2.07 billion (£1.5 billion) by 2022, with a CAGR of 16.9%.

The report from market research provider Million Insights noted that while demand is significantly higher for military applications, commercial applications are gradually catching up.

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The agriculture sector is anticipated to become a major user over the forecast period of seven years on due to numerous benefits, such as increase in yield due to crop monitoring. IT giants such as Google, and Facebook, are planning to launch solar-powered UAVs that fly to increase the reach of internet access to the remotest corner acting as flying internet hotspots or access points.

In addition, Amazon is working on an innovative drone called Prime Air that will deliver products within half an hour after order placement.

Retailing and E-commerce industries are trying to use such UAVs in order to deliver products to the customers in a very short span of time.

In July 2015, Amazon proposed to allocate a distinct airspace zone to operate these unmanned aerial aircraft for the purpose of delivering goods to customers.

Governments across the globe are using these unmanned aerial vehicles in various applications such as infrastructure, law enforcement, R&D & scientific research, in disaster management activities and environmental studies.

Tags : Commercial dronecommercial UAVdronesGoogleMillion InsightsPrime AirUAV
Emma Calder

The author Emma Calder

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