By 2033, the market for autonomous drone platforms is anticipated to grow significantly, with a CAGR of 12.8%. The market is anticipated to grow from US$ 8.3 billion in 2023 to US$ 24.9 billion by 2033, according to FMI.
Drones have a bad reputation in society. The majority of people compare them to expensive military aircraft or little consumer toys. But according to recent FMI study, commercial applications in the real world have a substantial impact on how drone technology evolves.
Drone use in business operations has grown recently across a range of industries due to their improved capability for efficiency and data analytics. VCs have invested $1.5 billion in drone industry-shaping companies since 2012.
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To meet the demands of diverse end users, a number of drone operators are rapidly extending their operations, which is likely to increase productivity and industrial output. This is anticipated to fuel the market for autonomous drone platforms during the anticipated period of time.
Unmanned aerial vehicles (UAVs) are used by the military and law enforcement for operations such as combat, remote observation, and investigation. Additionally, the military works with entrepreneurs to develop autonomous UAV drone capabilities using big data, artificial intelligence, and other technologies. These elements contribute to the demand for platforms for autonomous drones over the anticipated time frame.
Surprisingly, the commercial sector outpaces military demand in the market for autonomous drone platforms.
In many business enterprises, drones can replace traditional methods of operation. This change comes after the Federal Aviation Administration increased the number of drone usage authorizations for non-hobbyist, commercial use.
Drones can also save time and money because they operate with fewer people and lack safety infrastructure. They can also enhance data analytics, which aids companies in understanding and forecasting operating performance. Even new business models and opportunities in some industries are made possible by the adoption of autonomous drone platforms.
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Services that operate and maintain drones for businesses produce the majority of value. The maintenance, data management, and drone operations are outsourced by end-user businesses.
AI Analytics: Market Drivers for Investment in Autonomous Drone Platforms
The main drivers for investments in the autonomous drone platform industry are the sizeable commercial market potential, the declining costs of drone parts (such as sensors and batteries), and technological improvements in artificial intelligence (AI) and analytics.
These elements have caused a consistent rise in market share. For instance, as of June 2017, there had been 52 trades totaling $216 million, which was an increase of 11 trades and $52 million over the yearly total of 2014. Deals totaling $506 million in investment are expected to reach a record high of 122 at the present run-rate.
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Related Link :
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