Global Drones Market To Touch $37 Bn By 2022

drones-at-t-intelThe market size of drones, or the small unmanned aerial vehicles, that are gaining prominence in multiple industries these days, is expected to reach $36.9 billion by 2022, a study predicted.

The study by WinterGreen Research said the market at present is pegged at $6.8 billion and displaying a growth of above 400%, the drones market may touch close to $37 billion in next 6 years.

“Use of drones represents a key milestone in provision of value to every industry. Customized cameras are used to take photos and videos with stunning representations. Digital controls will further automate flying, making ease of use and flight stability a reality. New materials and new designs are bringing that transformation forward. By furthering innovation, continued growth is assured,” writes Susan Eustis, lead author of the report.

Drone aerial vehicle (UAV) technology has reached a level of maturity that has permitted DJI to garner $1 billion in revenue in 2015, doubling their revenue in one year. This achievement puts the drone systems at the forefront of aerospace manufacturing. Every industry and around the entire world vendors are adapting to drone availability. Use cases are evolving rapidly. Video, photos, specialized video, targeted video, and package delivery systems are offered.

Next generation commercial drones achieve a complete replacement of existing commercial airfreight delivery systems, they are used for 3D mapping, commercial pipeline observation, border patrol, package delivery, photography, and agriculture are more energy efficient, last longer and have a significantly lower cost of operation than manned aircraft.

Unmanned aircraft systems promise to achieve a more significant aspect of commercial market presence. Army Unmanned Aircraft Systems flying of 3 million flight hours gives drones market credibility. Eighty eight percent of those hours were logged in combat situations in Iraq and Afghanistan, paving the way for commercial drone markets to develop.

The report predicts drones markets promise to grow significantly because of the more economical visualization and navigation provided by systems. Visualization includes mapping from the air, inspection from the air, surveillance from the air, and package delivery from the air. The unmanned aircraft equipped with cameras are able to do things that cannot be done in any other way. This bodes well for market development.

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