Drones have revolutionized the technological world, with spreading end user applications and industries. The multipurpose drone has evolved through many stages and these drones are now being used for delivery services by online retailers. These are still undergoing innovation, with companies engaging in research and development of this emerging technology in commercial sector. The reduction in manpower and labor cost has encouraged the adoption of drones for commercial purposes. Furthermore, the ability to carry heavier payloads and time saving properties have led to the innovation of more versatile drones, such as multi-rotor drone, for consumers and industrial market.
As the name suggests, multi-rotor drone consists of more than two rotors and is commonly referred to as ‘rotorcraft’, which is capable of autonomous flight. The demand for multi-rotor drone has increased over time, with its application in various law enforcement and non-military activities such as aerial photography, agriculture, and environment inspection, among others. These rotorcrafts are highly efficient and provide high productivity and precision, which in turn saves costs of manual labor. These are some of the factors which is driving the global multi-rotor drone market towards a robust growth.
The global multi-rotor drone market is expected to grow with a robust CAGR. Improvement in computing speed, development of advanced sensors and enhanced data processing capabilities among others, are some of the factors driving the market and the use of multi-rotor drone in commercial applications. U.S. has always been at the forefront of technological advancement and its hegemony over the multi-rotor drone market cannot be denied, which will be maintained by 2022. However, Europe gave a tough competition to the U.S. by coming a close second in revenue generation, in 2016. Of all the regions, Asia Pacific is the largest importer of drones and is a potential market which can convert the multi-rotor drone market into a multi-billion dollar industry.
Consortiums and vendors have cropped as a helpful tool for further expansion of the multi-drone industry, as they help the users and vendors to become familiar with the ongoing changes in the rapidly growing industry. The future of the multi-drone market largely depends on these consortiums and regulatory frameworks. Some of these prominent consortiums are Association for Unmanned Vehicle Systems International (AUVSI), UAV Systems Association (UAVSA), and Association of Remotely Piloted Aircraft Systems U.K. (ARPAS U.K.) among others. The increased use of drones for commercial purposes have called for certain regulations, especially in established markets like U.S.A and Europe, which are actively implementing laws and regulations on commercial use of drones. Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) are the prominent regulatory bodies in the U.S. and European region respectively.
BIS Research has compiled an extensive market research report on ‘Global Multi-Rotor Drone Market - Analysis and Forecast 2016-2022’. The market analysis report will provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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