In 2014, the estimated size of the worldwide commercial drone market was around USD 552 million. The civilian or commercial side of the industry drove the growth of the market, while it slowly shifted from being an exclusive instrument to the military market.
The Ongoing Momentum
Between 2015 and 2020, the commercial or civilian drone market will witness a 19 percent growth in the compound annual growth rate (CAGR) in comparison to the five percent surge on the military side. By 2020, the UAV Drone Market for Commercial will see a substantial growth to around USD 1.27 Billion with a 109.31 percent CAGR growth between 2014 and 2020.
Experts predict that the rotary blade will serve as the primary contributor to the whole market with a 72 percent share in the total UAV Drone Market for Commercial. They expect the segment to reach USD 970 million by 2020 with a CAGR of 110.61 percent from 2014. This year, SenseFly Ltd. and 3D Robotics led the UAV Drone Market for Commercial.
The rotary blade types consist of multi-rotor and single variations. Between the two, the muti-rotor ones are easier to control. They can be used for an array of applications ranging from surveillance, aerial photography and package delivery as long as it has the proper attachments.
The Growing Trends
In 2014, several companies presented the “Follow Me Drone” feature that they finally released a year later. This concept asks the drone to focus on an object at a given angle and distance. The drone will then remain at the specified angle while following the object around. To address the different needs of the consumers, some developers even created smaller-sized drones, selfie drones and drones for the construction industry.
Suffice to say, the ongoing momentum and the growing trends will keep the drone market industry soaring for years to come.