Published On : 18 Jul 2018
Commercial and civilian unmanned aerial vehicles (UAVs) or drones have witnessed rapid technological advancements in the past few years due to the huge amount of research activities taking place in the field. Research on practicality and real-time applications of challenging ideas such as harvesting power from winds at high altitudes and holding UAVs aloft by using lasers and sunshine is also under progress. Concepts of a vast variety of UAVs that can dive and collect data from underwater sites have also come ahead. The demand for UAVs in the civilian sector - for entertainment and informal activities has also significantly increased in the past years, partly owing to the high curiosity around these technologically advanced tiny products and partly due to the constantly dropping costs and the availability of a vast variety of products in the global Civilian UAVs market.
Rise in Number of Players to Lead to Increased Influx of New Products
Landing UAVs and vertically taking-off UAVs are commonplace these days, most commonly seen in toys that are programmed to fly in a pre-desired pattern. New varieties of products, developed keeping in mind the requirements of civilians, are entering the market at a steady pace, hinting at the vast rise in demand and promising future growth prospects of the market.
With the rising influx of companies manufacturing civilian UAVs, the global market is expected to witness a distinct rise in competition and the influx of newer and more economic varieties of civilian drones in the near future. This factor will have a profound impact on the growth potential of the market and will play a key role in driving it in the next few years.
High Demand for Aerial Photography and Videography Purposes
Presently, civilian UAVs find their most profitable applications in areas such as high-end games, and aerial photography and videography. Of these, the segment of aerial photography presently accounts for the dominant share of the global market and is expected to remain one of the key contributors of revenue to the overall market in the near future as well. Vast usage in the media and entertainment sector for high definition and unique aerial shots will continue to keep the demand for commercial drones in the aerial photography segment high.
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North America and Europe Account for Dominant Share in Overall Market
From a regional point of view, the markets for civilian UAVs in North America and Europe are presently the most lucrative regional markets. Accounting for a lion’s share in the overall market, these regions are making their presence felt in the industry owing to high demand, several OEMs, a thriving media and entertainment sector, and a highly productive research and development scenario. These regions are also expected to remain at the top in the next few years, accounting for a large share of demand as well as future development opportunities.
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