Frost & Sullivan Projects Commercial Drone Market to Reach 2.91 Million Units by 2023

Submitted by tatwood on Wed, 04/15/2020 - 15:25

Increasing regulatory support for commercial drones in the APAC region, particularly in India, is driving unit growth, noted Michael Blades, Aerospace, Defense, and Security Vice President at Frost & Sullivan. "There is also a significant increase in demand for professional segment drones to conduct crop spraying in China and other countries in APAC…”  Blades further noted that drone companies are focusing on specific vertical markets as it’s not a “one-size-fits-all” business model.

Reported takeaways:

“India's move to lift a commercial drone ban: Vendors should penetrate this lucrative market by providing hardware, software, and other relevant services.

“Sensor/data fusion: UAS platform providers should work with sensor providers and software developers to integrate sensor/data fusion capabilities into their products, ensuring accuracy.

“New drone platforms: Drone control software providers will emerge to develop solutions that can easily support these innovative platforms.

“Repair and maintenance: As enterprise adoption continues and more businesses invest in high-value drone platforms and subsystems, there will be an increasing need to repair this equipment. Vendors involved in this segment can tap into this opportunity by partnering with hardware manufacturers.”

Story and photo courtesy of Frost & Sullivan and INTELLIGENTAEROSPACE.COM

Thanks to CDR David Place (USN/Ret), davidplace47[at]gmail[dot]com, and Robin E. Alexander, President ATC, alexander technical[at]gmail[dot]com, for their assistance with this report.

David offers a free, comprehensive news report on unmanned systems and robotics, the Unmanned Systems News (USN), in PDF format that is distributed every week or two, as well as serial news flashes, from which this news update was sourced. To be included in his viewership, simply send David a subscribe request to davidplace47[at]gmail[dot]com.