Drones: Break into the Market
By 2017, they have become an ubiquitous element of the landscape: from the breathtaking aerial footage they capture to the logistical, technical, and diagnostic support they provide to militaries, commercial businesses and private citizens around the world, DRONES are here to stay.
In the United States alone, the market is expected to grow by 10% annually to reach $4.5 billion by 2020.
While there may be around 2.5-3 million UAVs in the air today, by 2020 that number will climb to 5.5-6 million by 2020.
Whether they will prove decisive in battlefield operations of the future or an essential lifestyle or business tool is still up for debate; what isn’t, is the fact that the drone market is really heating up!
Supremacy of the Skies
Around the world, UAVs or as they are more commonly known outside of military circles, drones are expected to fully rule the skies of the future. The global drone market was valued at $5.93 billion by 2015, this represents a projected 20.7 percent compound annual growth rate for the predicted $22.15 billion market value in 2022.
People are interested in buying these products for a variety of reasons and their are a lot of clear entry points for entrepreneurs looking to invest in this game changing future technology.
While there are tremendous opportunities domestically, taking a closer look at the global market reveals some real production, logistical and market related benefits to building and marketing UAVs or drones internationally.
In the United States, 99% of all drones sold are to private citizens in the vibrant consumer market which has many unique target segments. Military spending on drones is far higher however: 1 military drone can cost upwards of $1 million. Compared to the $100 entry level consumer models and the $10,000 best in class drones, it’s clear the United States and other global military and paramilitary groups are willing to pay top dollar to stay ahead of the advancements in this industry.
Capitalize on the Moment
Consumer and commercial drone demand is really taking off. While in the early stages of development, demand for consumer and commercial drones is expected to globally mirror innovations such as the creation of Apple’s iPhone in 2007.
As these products become a more and more normal aspect of every day life, there will be a “keep up with the jone’s” sort of mentality which will lead to more niche specific and lifestyle branded drone products, services and innovations.
Rotorcraft is a term which refers to any drone which features rotary wings. These include quadcopters, helicopters, and other types of drones with spinning blades propelling them.
Demand for rotorcraft is projected to triple in dollar terms through 2020. As soon as 2025, rotorcraft will account for the largest share of unmanned aircraft system (UAS) sales in both unit and dollar terms.
It really is the perfect time to invest in drones and break into the phenomenal profits this industry will yield in the years to come.
One of the most interesting and emerging markets for UAVs exists in the public safety sector.
Around the world, nongovernmental and governmental organizations such as law enforcement, firefighting, medical services, search and rescue operations, and emergency management teams have clear operational budgets to purchase drones.
Of the emerging military applications, drone technology will be used to enhance border security, combat missions, intelligence gathering and surveillance.
Rise of the Drones
For better or worse, drones are here to stay and while this market is new and emerging, it is riddled with opportunity and their will be huge gains for the individuals and firms which can capitalize on the moment.
If you are looking for an industry to invest in either domestically or internationally, you should consider viability of drone related concepts and brands.