Commercial services based on unmanned aerial vehicles (UAVs), commonly known as drones, are growing in popularity for a wide variety of commercial applications. According to a new report from Tractica, global industries from agriculture to energy are harnessing the services provided by pioneering drone companies to save money and time, while improving the quality and safety of tasks that have traditionally been handled by airplanes, helicopters, satellites, or manual inspections.
Tractica forecasts that global drone-enabled services revenue will increase from $337.6 million in 2017 to $22.7 billion annually by 2026. The market intelligence firm anticipates that the three leading industries in the drone services market will be the film and media industry, the utility, energy, and infrastructure sectors, and the agriculture industry.
“In addition to traditional tasks, new capabilities and intelligent software are enabling a variety of innovative services that were once impossible,” says senior analyst Glenn Sanders. “Major growth drivers for companies providing commercial drone services include rapid deployment, timely and more accurate data, provider specialization that includes domain knowledge, and a tangible return on investment (ROI) to clients, while minimizing capital and personnel requirements.”
Sanders adds that the largest application markets for commercial drone services will include surveying & monitoring, mapping, and filming & entertainment. Significant opportunities also exist for inspection, aerial imagery, data collection & analytics, and delivery & payloads.
Tractica’s report, “Commercial Drone-Enabled Services”, examines the global market trends for commercial drone services and provides 10-year market sizing and forecasts for service revenue during the period from 2017 through 2026. The report focuses on crucial market drivers and challenges, in addition to assessing the most important technology issues that will influence market development. In total, 43 key players and 64 emerging and other industry players are profiled. Market forecasts are segmented by world region, industry, and service application type. An Executive Summary of the report is available for free download on the firm’s website.