Collaborative approach taken by Civil Aviation Authority of New Zealand will flourish the commercial drone market in coming years. They have collaborated the Part 101 consultation rules with Part 102 unmanned aircraft certification that is now resulted in 108 unmanned aerial vehicles (UAVs) receiving certification. This change will bring expand the commercial drone market as it is used in various fields such as mining, agriculture, urban planning, and search and rescue. Moreover, globally the demand for commercial drones are increasing largely due to its growing significance in various industries.
Technological advancements has significantly benefitted mostly all the sectors. One of the incidence of advanced technology is seen in development of drones that are now highly used for commercial use as well. Moreover, rising demand for surveillance applications, precision agriculture, and aerial photography that have further boost the need for commercial drones. Growing inclination towards sophisticated technology and increasing preference for high image quality and resolution will serve as a driving factor for the use of these advanced technologies. Thus, videos and images captured through drones are of high quality making it highly applicable across various industries.
In addition, the need for picture precision in both picture and video is now easily accessible by users through their smartphones that is further enhanced through 4K video capable smartphones and television. Therefore, these are factors that have grown the demand for commercial drones in the global market, as they are capable of giving HD quality of images and videos that are captured from a distance.
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There are certain key aspects related to the growth of global commercial drones market:
- The demand for commercial drone has increased at a tremendous rate. Commercial drones are used to capture and broadcast live sports, news, award functions, and various other events related to entertainment sand arts. Moreover, instant flow of information with the help of internet and preference for live streaming have also triggered the need for commercial drones.
- Technological developments has improved the technicalities of drones where the demand for multi-rotor drones has significantly increased in agriculture and for surveillance activities.
- On the other side, there are certain obstacles that might hinder the growth of the commercial drone market. One of the major restrain is high concerning privacy issues that may restrict the use of drones.
- In addition, stringent regulatory policies for the usage of drones in past few years may restrict the commercial drones market.
- According to the regional analysis, North America is dominating the market due to high use of commercial drones in precision agriculture for irrigation equipment monitoring and cattle monitoring as some of the additional use.
- In coming years. Asia Pacific also shows high demand for commercial drones, as China is working towards automating its manufacturing facilities in which commercial drones are used considerably.