The global commercial UAV market revenues will grow at a 32.5% CAGR from 2014 to 2020, mainly attributing to the rapid adoption of the UAVs in various commercial applications. Among these application sectors, agriculture & forestry, mapping & GIS, power grid inspection, and oil & gas inspection are the fastest growing UAV applications in the next five years.
Shanghai, China, September 16, 2015 (Newswire.com) - Innova Research recently published a market research report entitled “The World Market for Drones – 2015 Edition”. Based on Innova’s forecast, the global commercial UAV market revenues will grow at a 32.5% CAGR from 2014 to 2020, mainly attributing to the rapid adoption of the UAVs in various commercial applications. Among these application sectors, agriculture & forestry, mapping & GIS, power grid inspection, and oil & gas inspection are the fastest growing UAV applications in the next five years. Novel utilities are the primary driver behind the fast adoption of UAVs in these sectors. UAVs can be equipped with infrared cameras or similar sensory devices to capture the infrared anomalies of the electricity grids or oil pipes, to detect accidents such as fires and power grid failures. UAVs also play important roles in large farmland and forest management, fire prevention, sowing, and so on. The uses of UAVs can greatly improve the efficiency and reduce the management costs in these commercial sectors. As a result, a rapid penetration of UAVs in these application sectors is anticipated in the next five years.
The report classifies UAVs into consumer UAVs and commercial UAVs (the military UAVs are not included in the report). The world UAV market is also split by region (North America, Western Europe, Asia Pacific, EMEA, among others) and country (US, China, France, Germany, Japan, among others), by size, (nano, small, medium, and large), and by UAV type (multi-rotors, fixed-wings, single-rotor VTOLs), with unit shipments and revenues for each of the above mentioned UAV market segment presented in the report. The commercial UAV market is further split by industry sector, including agriculture & forestry, mapping/GIS, media& entertainment, logistics & retails, science research & environment, oil & gas inspection, power grid inspection, and public safety & security. Besides, autopilot UAV market and UAV related regulations in major countries, such as US and China are also discussed in the report.
Global UAV market revenues are growing rapidly, mainly attributing to the great values UAVs offer in improving the operation efficiency in various commercial sectors, including agriculture & forestry, mapping/GIS, power grid inspection, and oil & gas inspection, which are forecast to be the top UAV application sectors in terms of revenue growth in the next five years.
Richard Jun Li, Vice President of Innova Research
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