UAV Drones Market

UAV Drones Market is expected to grow from USD 16.34 Billion in 2017 to USD 74.26 Billion by 2026, at a CAGR of 18.32% between 2017 and 2026. (Detailed analysis of the market CAGR is provided in the report) Unmanned Aerial Vehicle (UAV) drone are used for collecting, analyzing, and synthesizing data of different objects, structures or areas from numerous sensors. Further, they are useful for the collection of confidential or sensitive information about a private property or a private behavior of the object. Changes in government policies and the increase in the number of exceptions permitted to the companies for the commercial use of UAV drones are some of the key factors driving market growth. Rising demand for drone-generated data in commercial applications, increase in venture funding, rapid technological advancements and declining prices, growing demand across commercial and non-commercial end-users are the major factors driving the growth of the UAV drones market. However, security and safety issues as well as social issues, such as privacy and nuisance concerns, are the key restraining factors for market growth. Further key findings from the report: • Among all the components, a camera is anticipated to account for the largest share of the UAV drones market during the forecast period. Camera systems offer features such as continuous video monitoring, remote surveillance, border security, and protection of critical infrastructure, and thermographic inspection of inaccessible buildings. Since these features found advantageous in many commercial and military applications, it is driving the market growth of the UAV drones market for cameras • From the commercial application segment, precision agriculture is anticipated to grow at highest CAGR by 2026. With the use of drones in agriculture, it is possible to reduce time and cost required to conduct an accurate survey, it also offers real-time data collection and high-resolution imagery of farmland. These advantages of using drone technologies in farming over other traditional farming techniques are driving the growth of the commercial drones market for precision agriculture applications • UAV drones market for commercial applications to hold the largest market share in 2017 owing to rising demand for drones and drone-generated data in commercial applications, increasing use in retail and e-commerce sectors. Additionally, in some countries, the rules for operating drones in the airspace have been relaxed, that is further increasing the adoption rate of commercial drones • Among geographical regions, North America to hold the largest share of the overall UAV drones market during the forecast period. This can be attributed to release of the Part 107 rule by the Federal Aviation Administration (FAA) of the US in August 2016. Rising demand for military and commercial applications in North American countries such as US and Canada is expected to boost the growth of UAV drones market in this region Key Highlights: • Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the UAV Drones Market • The objective of the report is to provide a detailed analysis of the UAV Drones Market on the basis of drones type, payload, component, application, and geography • Complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities • In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain • Analysis of the UAV Drones Market with respect to individual growth trends, prospects, and contribution to the total market • Segment wise business performance detailed in a report will be worthwhile for the organizations willing to enhance its business • Provides detailed information regarding the major factors influencing the growth of the UAV Drones Market (drivers, restraints, opportunities, and challenges) • This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business Years that have been considered for the study are as follows: • Base Year – 2016 • Estimated Year – 2017 • Forecast Period – 2017 to 2026 For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered

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