DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/vzfh5k/multirotor_drones) has announced the addition of the "Multirotor Drones Market by Application, Payload and Region - Forecast to 2020" report to their offering.
Advances in the commercial and military technologies are rapidly increasing the capabilities of low-cost drones, enabling them to carry out missions that are comparable to the larger UAVs at a considerably lesser cost and risk. A tremendous opportunity lies in the drones market and its use for several innovative applications. Efficiency of drones and their technological advancements and capability to perform in all extreme conditions is one of the major drivers for multirotor drones market. However, the FAA regulations, regulatory policies and air traffic management pose great challenge to the market.
Drones are flexible to applications depending on the payloads attached. The various types of payloads that can be attached include sensors, cameras, Chemical, Biological, Radiological, and Nuclear, (CBRN) sensor, HD transmission system, and several others. There are different types of sensor payloads such as electro-optics, surveillance, and laser designators, amongst others. These payloads have increased the capability and efficiency of drones for all possible missions. However, the market is currently being restrained, largely by the lack of skilled and trained pilots and the strict airspace regulations. However, in future, regulatory changes and relaxation in government regulations on flying drones are expected to increase the huge potential of this market. Due to terrorist attacks, the drones spending across the globe, has gained critical importance. The US, Europe, and Israel are the major players in this market.
The market was valued around $710.26 Million in 2014; with aerial shooting holding highest market share of 37%. The global multirotor drones market is projected to register a CAGR of 22.2% to reach $2.28 Billion by 2020. The North American market is estimated to capture -40.6% market share in 2015 to reach $937.93 Million by 2020. The APAC market is anticipated to hold 23.3% share in the global market with a market size of $195.77 Million in 2015.
The growth of this market has been primarily triggered by the low operational and maintenance cost along with the highly improved performance drones for law enforcement missions. The rise in research, procurement, and use of drones over the past decade has seen significant advances and innovations with respect to the payloads.
AeroVironment (US) is estimated to hold highest market share in 2015, followed by major players such as 3D Robotics (US), Israel Aerospace Industries (IAI) (Israel), and DJI Innovations (China).
Key Topics Covered
- Introduction
- Research Methodology
- Executive Summary
- Premium Insights
- Market Overview
- Industry Trends
- Multirotor Drones Market, By Application
- Multirotor Drones Market, By Payload
- Multirotor Drones Market, By Region
- Multirotor Drones Market, By Country
- Competitive Landscape
- Company Profiles
- Appendix
Companies Mentioned
- 3D Robotics
- Aerovironment
- Aeryon Labs
- Aibotix
- Coptercam
- Cyberhawk Innovations
- DJI Innovations
- Draganfly Innovations
- Israel Aerospace Industries (IAI)
- Microdrones
For more information visit http://www.researchandmarkets.com/research/vzfh5k/multirotor_drones
