The advancements in the design and
technology of UAVs are driving the market growth. The deployment of
intelligence algorithms in UAVs is developing myriad opportunities and
new avenues for the commercial use of drones. The decline in the prices
of the drones over the past decade has also fueled its demand for
commercial applications. Furthermore, the legalization and adoption of
commercial drones in the market by government authorities have also
brought many new valuable avenues for the business and usability in the
market.
According to the Graphical Research new growth forecast report titled “Europe Commercial Drone/Unmanned Aerial Vehicle (UAV) Market
analysis based on Product, Technology, Application, Industry Analysis
Report, Countries Outlook, Growth Potential, Competitive Market Share
& Forecast, 2018 – 2024
”, estimated to exceed USD 2 billion by 2024.
However, there are certain applications of
the UAVs that are still in the testing phase. The safety and security
issues associated with the use of UAVs are among the major factors
hindering the market growth. Moreover, stringent government regulations
related to the range and payloads are also among the major constraints
in the market growth.
Emergency management has emerged as one of
the most important applications of drones. This growth is attributed to
advancements in the drone technology over the years such as artificial
intelligence in drones, the advent of IoT-based drones, and
high-resolution cameras.
The UK is estimated to witness a gradual
growth in the commercial drone market due to its stance in the
development and testing of commercial applications of civilian drones.
The country with the authorization of The Civil Aviation Authority (CAA)
in 2016 relaxed some of its rules and regulations concerned with
applications of UK drones for commercial trials after requests from
Amazon to test its Prime Air delivery services. This even included the
operation of vehicles beyond VLOS and the use of anti-collision
technology.
The Europe commercial drone market
consists of both multinational companies with a wide product portfolio
and regional players or SMBs that offer niche products and services.
Some of the major market players are DJI, Parrot, 3D Robotics, Yuneec
International, Cyberhawk Innovations Ltd., Intel Corporation, and
senseFly.
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