Consumer & Luxury Goods Market Research News

Report explores the commercial drones market expected to reach $3,551 million, globally, by 2024

Consumer Market Research

The global commercial drone market is driven by demand for enhanced aerial photography, Agriculture and Precision farming and demand of human-less inspection. However, strict rules and regulations, public acceptance and privacy issues and misuse of drone technology may resist the market growth. For instance, countries such as Sweden has banned the use of camera drones in public places in October 2016.

As per the report “Commercial Drone Market Make an Inquiry about this news By Product Type (Fixed wing, Rotary blade, Nano, Hybrid), By Application (Agriculture, Energy, Government, Media & Entertainment, Product Delivery & others), Industry trends, estimation & forecast, 2016 – 2024”, the global commercial drone market was valued at $1.0 billion in 2016, and is projected to reach $3.6 billion by 2024, growing at a CAGR of 17.5% from 2017 to 2024. In 2016, the government segment generated the highest revenue in the global commercial drone market.

Among major regions, North America was the highest revenue generating market valued at $472 Million in 2016.

Consumers, professionals, and industries are now trying to reach out the technological medium which requires the least human inspection and which works in an automatic manner.