The drivers for this market are rapid technological advancements in drones and increase in demand for drone-generated data in commercial applications are the key factors for the growth of the market. Further, the increase in venture funding propels the growth of the UAV drones market.
Military drones are expected to capture the largest share of the UAV drones market. The military drones are being used successfully by defense agencies to guard their borders, to enforce law as well as for combat missions. For example, in September 2017, the US military launched six drone strikes against Islamic State positions in Libya. The adoption of military drones by various countries worldwide for military applications such as border security and spying is the key factor driving the growth of the military drones market.
Among all the major applications of the commercial drones, the market for media and entertainment is expected to hold the largest share in 2017. Drones offer numerous advantages over other methods of capturing images; some of the benefits offered by drones include lower costs and improved quality of films and photos. This is the main driver for the growth of UAV drones market for media and entertainment. The market for precision agriculture is expected to grow at the highest CAGR during the forecast period.
The current market is dominated by the players such as Northrop Grumman (US), DJI (China), General Atomics Aeronautical Systems (US), Parrot (France), Thales (France), 3DR (US), Boeing (US), PrecisionHawk (US), Lockheed Martin (US), Textron (US), and AeroVironment (US).
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