Drone Technologies are here: Future of Unmanned aerial Systems.
It looks like our 21st century will be the century of robots, with a lot of buzz concerning a fast growing subfamily of these machines, namely drones. Drones or Unmanned Aircraft Vehicles are aircrafts without a human pilot on board. Though the technology has been present for some time now, there has been an increasing awareness about drones in the various industries and the governments alike. Even though the current regulations by Aviation Administrations are in the draft phase, it has not stopped organizations to grab on this opportunity to leverage this emerging technology to utilize in its operations and evaluate its potential.
The ability of drones to reduce the cost of compliance and cost of the technology, while also enhancing the value of the information gathered through these systems have been the key drivers for increased adoption of drones services in the world. Traditional ways of working, which relied upon sometimes inaccurate and time consuming procedures can now be replaced by cost-effective, information rich UAV. Coupled with the applications from other synergetic technologies like 3D modelling, Internet of Things, artificial intelligence and augmented as well as virtual reality has opened up a world of possibilities for organizations to leverage the use of UAV and its associated technologies across their operations.
Drone technologies, as well as advanced image analytics, have great potential in the various sectors. Precise data acquired by unmanned aerial vehicles can increase situational awareness, lower costs and improve the safety of staff involved in maintenance or construction of complex utilities systems. It can also contribute to predictive maintenance by fuelling highly advanced models with tangible information regarding the current technical condition of assets.
A combination of technologies such as Internet of things, robotics, artificial intelligence, machine learning, advanced data analytics can bring great benefits to companies, and help them not only in retaining profitability in the changing environment, but also in avoiding regulatory charges related to energy shortages. To remain competitive on the market, and stay current in the changing business ecosystem which is challenged by new technologies, companies from the various sectors need to broaden their horizons.
They need to perceive new technologies, such as drones, as opportunities to increase effectiveness, reduce costs and improve internal processes, rather than as disruptors forcing them to challenge the way they have been thinking, and doing their business for years.
The global market has become a hotbed of activity for drones. Overall investment in research and development activities, and a focus on technological advancement are healthy signs in emerging economics and enable them to enhance their growth. However factors such as operational safety, aviation risk are expected to create hurdles for market growth.
The Global Drone Services Market is expected to grow at a CAGR of XX% over forecast period. The global drone services market will reach US$ XX billion by 2026. By geographically North America is dominating the market with near about 44% share in global market. This uptake is prompting other regions to frame policies and regulations on use of drones. By Application Aerial Photography & Remote Sensing and Mapping & Surveying these two segments collectively expected exhibit 50-55% of global market share.
The Global Drone Services Market report explores opportunities for organizations in various industries such as Oil and Gas, Power and Utility, Agriculture, Scientific Research, Infrastructure, Mining, and Logistics, to leverage the use of UAV and its associated emerging technologies in creating value across their various activities. Oil and Gas industry segment is dominating the market. The usage of Drones in oil and gas industry would literally astonish the industry with its capability to get as much data available in the last 30 years within 45 minutes.
Globally, Regions like North America, Europe, and APAC have created a conducive environment for organizations to benefit from the applications of drones and its associated technologies and hence these markets have seen a lot of capital investment and this driving the innovation in this market. ME& Africa and Latin America should create an environment for various players in this ecosystem of companies and start-ups to collaborate and create value for each other.
Regulations will have to pave the way for such an adoption and even though the regulations are still in the draft stage, that should not deter companies from investment because once the regulations get formalized, the market will see a lot of industries and companies adopting drones across their operations. To cater to the demand of the future, companies need to invest and the push has to come today from both the governments and the private industry.
The objective of the report is to present overall picture of Global Drone Services Market. The past, present and the estimated future of Global Drone Services Market is presented with the help of complicated data and its precise analysis in a lucid language. All the aspects of Global Drone Services Market have been covered in this report such as PORTER, SVOR, PESTEL analysis the potential impact of macro-economic factors on this market has been elaborated structurally as well as statistically which will help the potential investor to understand the market dynamics and structure in an explicit manner.