Research and Markets has reported global commercial drones market is estimated to grow at a CAGR of 109.31 percent to reach USD1.27 billion by 2020, the company said.
UAVs have been evolving over the years with improved design, significant operating ranges and tenure, and better data processing capabilities. They can transfer high-resolution video and images, and other surveillance data to base station in real-time. The various applications of commercial drones not only help the end-user save big in terms of cost and time of operation but also mitigate the risk of human involvement. The commercial drone industry has also been expanding in applications such as retail industry, environmental surveillance, and the media and advertisement industry.
The commercial drones market has also been segmented by technology into energy and propulsion systems, automation system, collision avoidance system, cyber-security and jamming, on-board data processing, and communication data links and radio frequency spectrum capacity.