Honestly, you cannot go a day without either seeing a drone or watching a drone commercial. Drone-based services are growing by the day and the numbers show it all.
The growth of the drone industry took a good turn in 2015. This was when the Federal Aviation Association (FAA) gave companies the right to operate drones in the US.
Drone manufacturers and suppliers took this opportunity and turned it into a fully fledged business. The total number of sales which has occurred in the drone industry has continued to rise. For instance in 2016, according to research done by Gartner, there was $4.5 billion worth of revenue from drones worldwide. It is estimated that the drone industry will surpass the $12 billion mark by 2021. Different blogs that are dedicated to the drone industry like MyRCtopia.com are sprouting up all over the place as well and getting tons of traffic and engagement. It seems to be reaching a fever pitch.
The Internet of Things has changed the way things are done. Now there is a marriage between IoT and drones. IoT has combined the two together by bringing in location sensors.
This has, in turn, caused increased levels of flexibility. More data is being captured which was otherwise deemed impossible to gather. When searching for a drone you will find drones with different capabilities.
The growth of the drone industry is mainly due to three main segments in the market. They are consumer drones, commercial drones and government drones.
Consumer Drones
The consumer drone industry is relatively new but it is estimated to be growing by 15-20% annually. It is estimated that by 2021, the consumer drone industry will be worth $21 billion.
Currently, there are a lot of drone options consumers can choose from. They include: planes or gliders, helicopters, multi-copter, multi-rotor and tiltrotor. However, there is no commercially available tiltrotor.
Drones have attracted a lot of hobbyists. It is no longer only flight hobbyists who have shown a love for drones but also professional photographers and videographers. People no longer need to invest in high-end camera cranes. If you are planning to buy a drone you should go first with a rental website for drones and rent it for 1-2 days. Then if you are satisfied with the model you can surely buy it.
You only need a drone and a small camera and it will give you the best aerial view.
However, consumer drones are quite hefty when you look at the price tag. It seems only the wealthy are able to afford them. But as more manufacturers enter the business, then the more inexpensive they will become.
For example, in China the most popular drone manufacturer is DJI. They have continued to produce highly superior drones for both consumers and businesses. However, there is some level of competition growing from other upcoming companies such as 3D Robotics, Lilu, Yuneec and Parrot.
Commercial Drones
A commercial drone is one which is used in relation to business. Its main purpose is to bring in profit for an enterprise. For instance, the DJI Phantom series manufactures both commercial and consumer drones. They have a high-quality camera which can take photos or videos that are used for recreational purposes, while others can use them for business.
Retailer giant Amazon has included drones in its delivery services. They are able to deliver certain packages with drones. The drones are programmed with a GPS system and image system which ensure delivery at your front porch.
Commercial drones are further used in the following industries:
- Real estate. New properties can be listed by showing an aesthetic video tour.
- Golfing. Drones are being used by golfers to capture the hole before they play.
- Oil companies are using drones to inspect oil mines before drilling.
- Farming. Drones are used by farmers to detect hydration issues in the soil, measure how fast plants are growing in remote areas and detect crop pests.
- Security purposes
- Search and rescue operations
- Land surveying
- Insurance. Drones are being used by insurance companies to check the damage done in an accident.
- Undersea drones are used to monitor water temperature, sea levels, salinity concentration and the occurrence of tsunamis.
- Aiding the transportation sector to monitor heavily travelled or unsafe roads.
The commercial drone industry might be the smallest but it is experiencing the fastest growth compared to the other two. Moreover, it has the potential to last in terms of both size and economic impact.
Government Drones
There are mainly two categories of government drones: military and public safety. There are at least 10 countries which use drones in the military. This allows them to carry out their missions in a more efficient manner. For instance, in the US, the military has been using drones to combat enemies since 2001.
The drone industry has the potential to grow. More and more people and businesses are happily integrating them into their lives. They are truly changing each and every industry.
Do you own or are you thinking about buying a drone? Let us know in the comments below!
