Commercial Drone Hardware and Services Revenue to Reach $12.6 Billion by 2025, According to Tractica
BOULDER, Colo.--(BUSINESS WIRE)--#drone--Unmanned aerial vehicles (UAVs), commonly known as drones, have a great deal of potential to be explored and exploited for commercial applications. Major industries, government agencies, and other organizations are all actively assessing the opportunity for drones to disrupt the market and create innovative business models. Rapid advances in technology and economies of scale have enabled drones to be prototyped and commercially launched at an affordable price. Furthermore, due to emerging cloud-based applications and data services, the commercial drone industry is enjoying a period of rapid growth.
According to a new report from Tractica, worldwide commercial drone hardware and services revenue will increase from $792 million in 2017 to $12.6 billion by 2025. While the majority of revenue currently comes from hardware sales, the balance will shift in the next few years and, by the end of the forecast period, Tractica anticipates that drone-enabled services will represent approximately two-thirds of the total revenue mix.
“A number of major industries are seeing strong value propositions in utilizing drones for commercial use,” says research analyst Manoj Sahi. “Some of the key industries include agriculture, film, media, oil & gas, energy & utilities, insurance, and real estate & construction, among many others.”
Sahi adds that the top commercial applications for drone-enabled services include the following:
- Filming and entertainment
- Mapping
- Aerial assessments
- Prospecting
- Disaster relief
- Early warning systems
- Environmental monitoring
- Data collection and analytics
Tractica’s report, “Drones for Commercial Applications”, examines the market and technology issues surrounding commercial drones and provides 10-year revenue forecasts for the industry. The report assesses crucial market drivers and challenges, regulatory issues, and key technology issues that will influence market development. In total, 194 key, emerging, and other industry players are profiled. Market forecasts for drone shipments and revenue are segmented by world region, airframe type, industry, and customer type. An Executive Summary of the report is available for free download on the firm’s website.
About Tractica
Tractica is a market intelligence firm that focuses on human interaction with technology. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Wearable Devices, and Digital Health. For more information, visit www.tractica.com or call +1.303.248.3000.
ContactsTractica
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Clint Wheelock, +1-303-248-3000
[email protected]
Use of Drones in Agriculture, Film, Media, Energy, and Other Industries
Will Drive Rapid Growth of Unit Shipments and Service Revenues During
the Next Several Years
BOULDER, Colo.–(BUSINESS WIRE)–#drone–Unmanned aerial vehicles (UAVs), commonly known as drones, have a great
deal of potential to be explored and exploited for commercial
applications. Major industries, government agencies, and other
organizations are all actively assessing the opportunity for drones to
disrupt the market and create innovative business models. Rapid advances
in technology and economies of scale have enabled drones to be
prototyped and commercially launched at an affordable price.
Furthermore, due to emerging cloud-based applications and data services,
the commercial drone industry is enjoying a period of rapid growth.
According to a new report from Tractica,
worldwide commercial drone hardware and services revenue will increase
from $792 million in 2017 to $12.6 billion by 2025. While the majority
of revenue currently comes from hardware sales, the balance will shift
in the next few years and, by the end of the forecast period, Tractica
anticipates that drone-enabled services will represent approximately
two-thirds of the total revenue mix.
“A number of major industries are seeing strong value propositions in
utilizing drones for commercial use,” says research analyst Manoj Sahi.
“Some of the key industries include agriculture, film, media, oil & gas,
energy & utilities, insurance, and real estate & construction, among
many others.”
Sahi adds that the top commercial applications for drone-enabled
services include the following:
- Filming and entertainment
- Mapping
- Aerial assessments
- Prospecting
- Disaster relief
- Early warning systems
- Environmental monitoring
- Data collection and analytics
Tractica’s report, “Drones
for Commercial Applications”, examines the market and technology
issues surrounding commercial drones and provides 10-year revenue
forecasts for the industry. The report assesses crucial market drivers
and challenges, regulatory issues, and key technology issues that will
influence market development. In total, 194 key, emerging, and other
industry players are profiled. Market forecasts for drone shipments and
revenue are segmented by world region, airframe type, industry, and
customer type. An Executive Summary of the report is available for free
download on the firm’s website.
About Tractica
Tractica is a market intelligence firm that focuses on human interaction
with technology. Tractica’s global market research and consulting
services combine qualitative and quantitative research methodologies to
provide a comprehensive view of the emerging market opportunities
surrounding Artificial Intelligence, Robotics, User Interface
Technologies, Wearable Devices, and Digital Health. For more
information, visit www.tractica.com
or call +1.303.248.3000.
Contacts
Tractica
Clint Wheelock, +1-303-248-3000
[email protected]
