Ocean View, DE -- (SBWIRE) -- 06/17/2020 -- The global commercial drone market has garnered hefty proceeds over the recent years, perhaps attributing to the substantial increase in the deployment of machine learning algorithms and Artificial Intelligence in an effort to augment the competences of the autonomous drones.

According to the product spectrum, commercial drone market expansion is mainly characterized by hybrid drones. Apparently, the product held a huge stake of the global market share and is likely to foresee an exponential rise in the business growth over the mentioned timeframe. The product growth is aptly credited to the mounting usage of these drones owing to their features and multiple applications in surveying, media and entertainment, agriculture, etc.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. 3D Robotics
2. AeroVironment Inc.
3. Airobotics
4. Airware
5. Amazon Prime Air
6. Bae Systems
7. Cyberhawk Innovations Ltd.
8. DJI
9. DroneDeploy
10. Ehang Inc.
11. Hoverfly Technologies
12. Intel Corporation
13. Kespry
14. Parrot SA
15. Pricisionhawk
16. senseFly
17. Walkera Technology Co. Ltd.
18. Xaircraft
19. Xiaomi Inc.
20. Yuneec International

Agriculture sector is the most lucrative market for commercial UAVs market space. As the benefits of drones are becoming more apparent to farmers, their adoption is increasing for different agricultural applications to facilitate higher precision and consistency. The relatively low price of the UAVs with advanced imaging capabilities and sensors are enabling farmers to increase their yields and reduce cost of production. Players operating in the agriculture and digital farming market are developing modern agriculture focused drones with sophisticated precision and accuracy.

North America is the dominating region in the market owing to the relaxation on the use of UAVs for commercial applications by the FAA. The rising adoption of drones for covering events through aerial photography, filming, and video is also driving the market growth. The existence of large number of players such as 3D Robotics, PrecisionHawk, Aeryon Labs, with the support of government initiatives and policies also support the growth of the market.

The Asia Pacific region is anticipated to grow with the highest rate during the forecast timespan due to the supportive government policies and initiatives for the driving the adoption of UAVs for commercial purposes and rising awareness for drone applications. The market is also aided by the rising adoption of drones by the enterprises and customers in fields such as retail, agriculture, and construction. Furthermore, the existence of considerable number of UAV manufacturers in the Asia, particularly in China, such as Xiaomi and DJI, is aiding to the market.

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With a marked increase in the number of collaborations between technology leaders, governments, and industry players, the utilization of drones is bound to witness a transformative change in the forthcoming years. Furthermore, the deployment of drones across various end use domains including Wildlife Research & Preservation, Aerial Photography, Inspection & Monitoring, Emergency Management, and Remote Sensing & Mapping has observed a substantial increase. All these factors are certain to positively influence the growth potential of commercial drone/UAV market, which is forecast to surpass a remuneration portfolio of more than USD 17 billion by 2024.

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