Tractica: Drone-enabled revenue to hit $8.7B in 2025

Thursday May 5, 2016 0 comments Tags: Boulder, Tractica, Clint Wheelock, drones

BOULDER -- Global commercial UAV services revenue will grow from  $170 million in 2015 to  $8.7 billion  by 2025, according to a new report from the market intelligence firm Tractica.

The largest service applications will be filming and entertainment, mapping, aerial assessment and prospecting, Tractica said, but smaller opportunities for drone services will also include disaster relief, early warning systems, data collection and analytics, environmental monitoring, and package delivery.Tractica_logoUSE

Small unmanned aerial vehicles (UAVs), also known as unmanned aircraft systems (UASs) or drones, are gaining significant traction in a variety of industries including film and media, oil and gas, insurance, public safety, and agriculture, among others. 

While the number of drones being shipped for commercial markets is often the most visible trend, the largest revenue opportunity in the sector lies in the various services that these drones will enable.

"Commercial drone operators around the world are quickly realizing the potential for UAVs to be harnessed for a variety of services in a more efficient manner than can be achieved using conventional means such as satellites or aircraft," said Clint Wheelock, Tractica’s managing director. 

"Most commercial applications for drones are related to aerial imaging or data analysis, taking advantage of low-cost components and ever-increasing sensor capabilities."

Tractica's report, "Drones for Commercial Applications", examines the market trends and technology issues surrounding the commercial drone industry and presents a comprehensive analysis of the drivers and inhibitors of market development, the regulatory landscape, business models, and supply chain considerations.

The report includes a 10-year forecast for drone hardware unit shipments and revenue, segmented by industry, airframe type, and world region, in addition to drone-enabled services by application area. 

An Executive Summary of the report is available for free download on the firm's website.