Current State of Commercial Drone Industry and Prediction for its Future

Did you know that the commercial drone market is one of the fastest-growing markets in the world; estimated to be worth USD 552 million in the year 2014 and expected to grow at a massive rate of 17% annually till 2022!

More and more companies are realizing the capabilities of drones and its impact on businesses upon implementation. Also called as unmanned aerial vehicles (UAVs), the business applications of UAVs are limitless.

As the technology is advancing, numerous avenues are opening and more companies are making use of commercial drones for their business purposes. Companies need to be well-versed with the rules and regulations when it comes to flying commercial drones. A drone can capture high-resolution video of objects and properties which can be used for marketing purposes and other commercial uses. This can be very helpful in engaging an audience with mind blowing visuals which were unimaginable in the past.

What are the Commercial Uses of Drones?

Often, individuals or companies are not completely aware of all the commercial uses of drones. Companies need to understand the exact limitations of using a drone for their commercial needs. Some of the popular commercial drone uses, include -

• Taking videos or photos from the drone
• Using drones to provide professional services such as telecommunications or security
• Using drones to provide contract services such as inspection of factory or industrial equipment
• Using a drone to monitor the progress of the company's performance

What are the Requirements for Flying Commercial Drones?

The business applications of UAVs are abundant. Commercial drones need certain requirements which need to be fulfilled before you start using drones for commercial use. Here is a list of requirements needed to fly a US commercial drone -

• The remote pilot should be at the minimum age of 16 years
• The pilot must have a remote pilot airman certificate along with a small UAV rating or at least supervised by someone who holds the certificate
• The remote pilot must have passed the Transportation Security Administration vetting
• The UAV must weigh less than 55 pounds and must undergo a pre-flight check by the remote pilot
• The required Air traffic Controller (ATC) permission should be attained to fly the drone on different types of airspaces

Current State of the Commercial Drone Industry

Being one of the fastest growing industries, the commercial drones market has not slowed down waiting for the government rules and regulations to fall into place. The growing ecosystem of drone hardware and software vendors are already catering to the huge markets in the field of agriculture, energy, land management, real estate, etc. Not only are small private firms or startups taking interest in using commercial drones, but large organizations and industries are also investing in commercial drone technologies.

The field of aerial imaging and data analysis is also booming . The key industries which are making use of drones commercially right now include filming, agriculture, media, oil and gas, etc. The industry continues to grow and innovate key applications using drones that will drive the market growth and produce a considerable return on investment.

Commercial Drone Industry Predictions for the Future

The massive growth in commercial drone industry has opened several opportunities for companies to try out new applications and find ways to improve their business operations. So, what does the future hold for commercial drone industry? Some of the predictions for this industry are listed here -

• The drone sales will massively increase from $8 billion in 2015 and reach and a staggering figure of $20 billion by the year 2021
• Consumer drone shipments will increase almost up to four times by 2021 which will be driven by increased price competitions and newer features to make it easier for the beginners
• With new government regulations, the enterprise market is all set to overtake the sales of drones from the consumer market
• Drone flying will get safer in the future with new technologies such as collision avoidance and geo-fencing coming up
• Right now, the rules and regulations for commercial drone flying is limited to a few industries but this will change in the coming years

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Flatworld Solutions is a leading software development service providing company and has been serving global clients for over 20 years now. Our vast experience of having worked with leading tech companies globally enables us to confidently cater to any kind of software requirement. Our team of software developers and testers are updated with the latest technologies such as machine learning, artificial intelligence, cloud computing, UAV applications, drone technologies, etc. We can provide successful assistance with software related to drones for commercial applications across different fields, including agriculture, film, media, surveillance, etc. within a quick turnaround time at affordable prices.

So, if you are planning to explore drone technology, then just get in touch with us now to discuss your business needs.