As drones are being increasingly adopted for various purposes across many different industries, the future of drones and the market growth potential is looking rather promising. This promise is leading to an abundance of business opportunities driven by new technologies and innovations. Drones, also known as unmanned aerial vehicles (UAVs), are equipped with advanced remote-control systems, GPS, HD cameras and even autopilot functions. The numerous benefits of drones make them an ideal device to replace the need for manpower, as they can reach a destination much faster and easier than a manned vehicle, making them critical for emergencies and time-sensitive tasks.
Drone Business Opportunities: What Industries Are Using Drones?
Apart from taking photos and videos with a birds-eye point of view, today’s commercial drones are being used in many different industries like farming and logistics, as well as the inspection of infrastructures such as bridges, oil pipelines, wind turbines, and solar farms. Using a drone helps to significantly reduce expenses on using helicopters and manned airplanes. Below is a list of five different industries that are utilizing the benefits of drones which is creating many business opportunities for market participants.
Logistics Industry
The growing adoption of delivery drones is one of the key market trends in the drone industry. A delivery drone functions with an anchor or basket-like feature on the bottom part to transport materials. For instance, delivery drones are being developed by major e-commerce companies like Amazon to fly individual packages to customers. Fixed wing hybrid drones, which can take off and land vertically are also being developed. As drones are aerial vehicles, they can effectively overcome the challenges of inefficient road or railway infrastructure. The increasing usage of drones for delivering packages is expected to drive the growth of the drone transportation and logistics market over the next few years.
Telecommunications Industry
The rising demand for drones in the telecommunications industry is another major factor shaping the future of the global drone market. Telecommunications industries are increasingly adopting tethered drones to develop temporary ad-hoc networks, to provide connectivity in remote areas and enhance cellular coverage. These drones are extensively used in telecommunications as airborne relays in telecommunication networks help to create temporary networks, such as Wi-Fi, high-frequency radio, and 4G networks.
Wind Energy Industry
The number of wind power farms is growing rapidly across the globe which has led to the advent of drones for wind turbine inspections. These drones can be operated in high wind conditions and varied air pressure conditions. Wind turbine inspection drones are normally equipped with GPS, inertial, image, and thermal sensors, multispectral sensors and optical cameras. By using such modified drones, the process of wind turbine inspection can be done faster, cheaper, and more effective compared to using human labour or manned helicopters.
Agriculture Industry
Farmers are increasingly adopting agricultural drones for farming tasks such as crop scouting and field mapping. Precision farming has been gaining immense popularity in the agriculture and precision agriculture technologies are increasingly being used to monitor, map, and respond to variability in crop yields. Agricultural drones are a crucial part of precision agriculture as they monitor crop health by using sensors and digital imaging systems and help in improving crop yield and crop health. Therefore, the growing popularity of using agricultural drones will be another major factor shaping the future of the drone industry.
Defense Industry
A defense drone is a mini airplane without a pilot on board. Human pilots can remotely control these machines through a satellite-powered remote-control system, or autonomously through onboard computers. These drones are an essential tool for modern defense forces because of their endurance and versatility, which makes them a most suitable solution for intelligence gathering, surveillance, and other support roles for military operations.
Check Technavio’s Global Commercial Drones Market Report 2018-2022
Check Technavio’s Global Commercial Drones Market Report 2018-2022 for more market insights related to the future of drones. This market research report provides the latest market size and market development for major market segments in terms of product types and regional market landscape. The report contains detailed market trends, market drivers, market challenges and key opportunities. In-depth market analysis such as Porter’s five force model, and comprehensive competitive landscape including detailed profiles of top companies are also included in the report.
