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Commercial Drone Market to Exhibit 25.07% Excellent CAGR by 2027; Launch of Robust Commercial Drone Skydio 2 to Accelerate Drone Industry Potential, Says Fortune Business Insights™

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Pune, India, Feb. 24, 2021 (GLOBE NEWSWIRE) — The global commercial drone market size is expected to reach USD 8,527.4 million by 2027, exhibiting a CAGR of 25.07% during the forecast period. The rising advancement in drone technology with the combination of lighter components, microprocessors, high battery energy, sensors, and lightweight structural materials will create new sales opportunities for the market during the forecast period, states Fortune Business Insights, in a report, titled “Commercial Drone Market Size, Share & Industry Analysis, By Product (Fixed-wing, Rotary Wing and Hybrid Multi-rotor ), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Aerial Photography, Agriculture, Disaster Relief & Management, Logistics, Surveillance & Inspection, Remote Sensing & Mapping, and Environment Monitoring) and Regional Forecasts, 2020-2027.” The market size stood at USD 1,590. 9 million in 2019.
The Report Lists the Key Companies in the Commercial Drone Market:DJI (China) Yuneec (China) Parrot Drone (France)AeroVironment Inc. (U.S.) SenseFly (Switzerland)Kespry (U.S.)3D Robotics (U.S.)Go Pro (U.S.) Autel Robotics (U.S.)PrecisionHawk (U.S.)Holy Stone (Taiwan)Other Players
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The catastrophe caused by the novel coronavirus has generated immense pressure on industries and sectors across the globe. The governments of several countries have instigated lockdown to prevent the spread of this infectious disease. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
The commercial drone report market comprises:Critical study of the market sizeTechnological information with vital insightsMarket value with future predictionsLatest developments in the domainCrucial information on COVID-19
Key Market Driver:Introduction of Cutting-edge Drones to Boost MarketThe ongoing technological innovation in drones by emerging companies can have a significant influence on the market. For instance, in 2018, Skydio, a major drone manufacturer and leader in autonomous flight announced the launch of commercial drone R1 in the market. Relatedly, the company has been continuously working with new technologies to gain a competitive edge over competitors in the commercial market. In 2019, Skydio introduced Skydio 2, a powerful commercial drone equipped with an array of sensors and a powerful onboard computer make for safe and autonomous. The Skydio 2 sold out on the same day it was released. The design element of the drone comprises of advanced artificial intelligence system with a Skydio Autonomy Engine. Moreover, in 2018, Yuneec, a world leader in electric aviation and manufacturer of aircraft announced the launch of Mantis Q, a foldable 4K travel drone. The Mantis Q is equipped with voice control and facial detection. The drone has the advantage to stay in the air for over 33 minutes, thus allowing pilots to record videos and images in the duration.
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High Demand for Drones During Health Crisis to Relieve Drone IndustryThe coronavirus health emergency has led to increased use of commercial drones throughout various regions. For instance, in April 2020, the U.S. Department of Transportation held a meeting in North Carolina regarding the commercial use of cargo drones to deliver healthcare gear, PPE kits, and medicines. CVS and UPS have delivered prescribed medication to 135,000 residents living in retirement homes through drones during the lockdown. Several governments have taken initiatives to deliver essentials through drones during the pandemic. For instance, the UK government announced to trail out drones for delivering food, medicines, and other help through drones. Additionally, the rising deployment of drones during the global crisis will contribute excellently to the growth of the commercial drone market.
Regional Analysis:Presence of Eminent Players to Aid Market in North AmericaThe market in North America is expected to account for the largest share in the global market during the forecast period. The growth in the region is attributed to the rising demand for drones from various industries and sectors in the U.S. and Canada. The presence of strong players such as 3D Robotics (U.S.), Go Pro (U.S.), and Autel Robotics (U.S.) will bolster the healthy growth of the market in the region. Europe is expected to exhibit a rapid growth rate owing to the prominent leaders and service providers in European countries. The market in Asia Pacific is expected to rise tremendously during the forecast period. The growth in the region is attributed to the emerging companies in the region. The surge in operation and production in the region will influence the healthy growth of the market. Key players such as DJI, Yuneec, and Holy Stone have established a strong foothold in the commercial drone industry.
Browse Detailed Summary of Research Report with TOC:https://www.fortunebusinessinsights.com/commercial-drone-market-102171
Key Development:June 2020:  DJI, a global leader based in China released a new full drone range, handheld imaging system, and cost-effective LiDAR technology. The drone LiDAR is designed for autonomous operations in smart cities image mapping and mobile drone operations.
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Industry Developments –Mergers, Acquisitions and PartnershipsLatest technological AdvancementsPorters Five Forces AnalysisSupply Chain AnalysisQuantitative Insights-Impact of COVID-19 Pandemic on Global Commercial Drone MarketImpact of COVIC-19 Pandemic on the Global Commercial Drone MarketSteps Taken by the Industry/Companies/Government to Overcome the ImpactKey Development in the Industry in Response to COVID-19 ImpactGlobal Commercial Drone Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By ProductFixed WingRotary WingHybrid Multi-rotorMarket Analysis, Insights and Forecast – By TechnologyFully AutonomousSemi-AutonomousRemote OperatedMarket Analysis, Insights and Forecast – By SystemSoftwareAvionicsPropulsionAirframePayloadMarket Analysis, Insights and Forecast – By ApplicationAerial PhotographyAgricultureDisaster relief & ManagementLogistics Surveillance &InspectionRemote sensing & MappingEnvironment MonitoringMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificTOC Continued…!
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Have a Look at Related Research Insights:Military Drone Market Size, Share & COVID-19 Impact Analysis, By Product Type (Fixed Wing, Hybrid and Rotary Wing), By Range (Visual Line Of Sight (VLOS), Extended Visual Line Of Sight (EVLOS), and Beyond Line Of Sight (BLOS)), By Technology (Remotely Operated Drones, Semi-Autonomous Drones), By Application (Intelligence, Surveillance Reconnaissance and Targeting(ISRT), Combat Operations, Battle Damage Management), and Regional Forecast, 2020-2027Unmanned Aerial Vehicle (UAV) Market Size, Share & COVID-19 Impact Analysis, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027Drone Services Market Size, Share and Industry Analysis, By Type (Fixed-wing and Rotary-wing), By Application (Aerial Photography, Delivery & Pick up, Surveillance & Inspection, Data acquisition & Analytics, and Remote Sensing & Environment Monitoring), By End-use Industry (Agriculture, Homeland Security, Oil & Gas, Logistics, Infrastructure, Media & Entertainment, and Others), and Regional Forecast, 2019- 2026
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.  At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. 
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