Issue link: https://te.mouser.com/i/1416857
Market Growth • Commercial drones are the fastest growing applications within the unmanned aerial vehicle (UAV) market, outpacing demand in the consumer and government segments • Extensive R&D is being conducted to drive technological developments, resulting in innovative solutions • Currently, there are 750K commercial drones in use. By 2029, this number is expected to reach 17M Emerging Commercial Drone Industries The emergence of drone technology for numerous applications like aerial photography and agriculture is strongly supporting the overall economic development of drones across the globe. Agriculture is projected to have the most substantial growth and innovative use cases for drones including spraying of diseases, weed and pesticide control, spreading microgranular fertilizers and imagery for crop health. Agriculture Photography Logistics and Delivery Construction Healthcare WATCH YOUR DESIGN TAKE FLIGHT WITH TE CONNECTIVITY FACT SHEET Market Trends Driving Accelerated Growth • Access to Airspace and Global Regulations As drones become more useful across sectors, government agencies worldwide are re-examining regulations for UAVs in airspace which can help further accelerate growth in the market. • Development of UAS service industry New cloud-based data analysis firms are lowering the barriers to entry for both service companies and end users by helping with data collection and providing rapid analysis based on algorithms. • Investments from Venture Capitalists A total of $2.6 billion in investments by venture capitalists were identified from 2012 to 2019 across the consumer and commercial drone markets. • Impact of Covid-19 With businesses and people worldwide working remotely and social distancing due to the COVID-19 pandemic, the importance, convenience and efficiency of drone use is coming to the forefront, revealing drone applications that may be here to stay. • Miniaturization The miniaturization of computing power will become more important to enable a greater array of sensors—multispectral, radar, sonar, LIDAR and atmospheric detection—and other advanced technology in designs for drones two pounds and under. • Awareness Public awareness of drone capabilities, especially in the age of the pandemic, is helping fuel growth. An increasing number of brands with different capabilities are crowding the market with new products. • Reliability Reliability needs to increase to reduce crashes and flyaway, which will in turn increase adoption rates and customer satisfaction. Ruggedization and reliability go hand-in-hand with innovation, enabling drones to be used in places not suitable before. COMMERCIAL DRONES / FACT SHEET