Americas Tops the Energy Storage Market for Drones| Technavio

LONDON–(BUSINESS WIRE)–#Drones–The latest market research report by Technavio
on the global
energy storage market for drones predicts a CAGR of close to
12% during the period 2017-2021.

The report segments the global energy storage market for drones by
product (batteries and fuel cell) and by geography (the Americas, EMEA,
and APAC). It provides a detailed illustration of the major factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.

Here are some key findings of the global energy storage market for
drones, according to Technavio energy
researchers:

• Growing commercial use: a major market driver
• In 2016, the batteries segment dominated the market by occupying
  almost 93% share
• In 2016, the Americas dominated the market by accounting for more than
  48% of the market share
• Amperex Technology, Ballard Power Systems, DJI, Grepow, and H3
  Dynamics are some of the players in the market

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Growing commercial use: a major market driver

Growing commercial use is one of the major factors driving the global energy
storage market for drones. Applications of drones have expanded
beyond the initial use in the military sector to commercial use in
segments such as agriculture, construction, power and water utility,
real estate, journalism, cinematography, transportation, and the energy
sector, which includes the mining, oil and gas, and clean energy
sectors. Drones are being used in these segments for monitoring,
mapping, surveying, and maintenance activities to increase productivity
with greater efficiency than conventional methods. Specialty drones are
developed for meeting specific end-use application. For instance, DJI
has developed DJI Agras MG-1 for the agricultural industry.

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Americas: largest energy storage market

High disposable income of the population in the US and the interest in
the early adoption of new technology by consumers and the commercial
sector have made the Americas the leading region in the global energy
storage market for drones. The energy storage market for drones in the
Americas is expected to grow at a CAGR of close to 9% during the
forecast period. China-based DJI and France-based Parrot are the major
players in the drones market in the Americas. Drones have gained
popularity as a recreational device among a large percentage of
the population in the region.

According to Thanikachalam Chandrasekaran, a lead analyst at Technavio
for research on energy
storage, “The high spending capability of consumers, particularly
in the US, has led to the region being an early adopter of drones. A
high percentage of the population can easily afford consumer drones, and
many vendors have a manufacturing base in this region. This can bring in
a multi-fold increase in drone registrations. But, unregistered and
untracked drones have become a major security concern for countries in
the Americas. In the US, the Federal Aviation Administration is
mandating the registration of drones to track them.”

Competitive vendor landscape

The global
energy storage market for drones is one of the fastest-growing
markets. It is highly competitive owing to the presence of several
vendors. Intense competition and preference of consumers to have
extended flight time are driving the development of high energy density
batteries and fuel cells. To sustain in the competitive market, vendors
must develop new ideas and technologies and stay up-to-date with
emerging technologies. Batteries are specifically designed to be
compatible with a drone model, and vendors offer a variety of products
at varying capacity to meet the requirements of drone manufacturers.

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