08 November 2019
The unmanned aerial vehicle (UAV) market is growing for many reasons, including increasing technology and applications, as well as lower manufacturing costs enabling more and more users access to UAVs. However, based on the most recent UAV market analysis data available, there are some important things to make note of and driving factors to monitor. This is especially key for those involved in the industry.
Evolving Perceptions About Drones
When drones were first introduced and became more readily available, they were seen in some cases as a sort of “cool” new technology that not many really understood. According to recent UAV market analysis data, this seems to no longer be the case. In addition to their military applications, many are starting to realize the far-reaching capabilities drones have for high-quality data collection.
Another important aspect many are now considering is how Federal Aviation Administration (FAA) changes are going to increase the opportunity for more data collection. Eventually, drones and unmanned aircraft will be more integrated into the FAA’s policies and regulated, allowing for laxer regulations when it comes to nighttime operations, flights over populated areas, and more.
Drivers & Restraints in the UAV Market Place
There are certainly some driving factors to make note of regarding the UAV market sector, one of the foremost being that of data analytics. The drone market also enables opportunities for broad-based IT expertise and expansion, as drone capabilities grow and call for the need for greater existing IT infrastructure. Drones are also uniquely positioned at the intersection of technology and business, meaning companies that can provide real-time solutions to business problems and pain points can benefit greatly.
According to recent UAV market analysis data, some restraints that will affect the drone industry for the years ahead include concerns about changing government regulations and user buy-in. Currently, the FAA is still lacking many regulations to allow enterprises to use drones to their full potential. Additionally, developing a drone standard created and maintained by a non-profit entity is something that could help the market immensely.
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