Bharatbook announces a report on “UAV Drones Market by Type, Payload, Application, Component, and Geography – Global Forecast to 2022”. Camera systems for UAVs include multispectral camera, thermal camera, LIDAR camera, and high-resolution camera, among others.
UAV drones market projected to grow at a CAGR of 19.99% between 2016 and 2022
The UAV market has entered the growth phase and is expected to grow further in the coming years. The market is expected to be worth USD 21.23 billion in 2022, at a CAGR of 19.99% between 2016 and 2022. The drivers for this market are rapid technological advancements in drones and the growing demand for drone-generated data in commercial applications. The main restraint for this market is social issues such as privacy and nuisance concerns.
Precision agriculture application for commercial drones is estimated to grow at the highest rate
The precision agriculture market for drones is expected to grow at the highest CAGR during the forecast period. Global UAV Drones Market are useful for agricultural planners as they greatly reduce the time and cost required to conduct an accurate survey and offer real-time data collection, high resolution imagery of farmland, and are low cost in comparison with other related techniques.
Camera component is estimated to hold the largest share of the market during the forecast period
Camera systems are used in UAVs for round-the-clock video monitoring, investigation, remote surveillance, border security, protection of critical infrastructure, thermographic inspection of inaccessible buildings, and firefighting & law enforcement jobs. Camera systems for UAVs include multispectral camera, thermal camera, LIDAR camera, and high-resolution camera, among others.
APAC is expected to be the fastest-growing market for UAV drones during the forecast period
The market in APAC is expected to grow at the highest CAGR because the countries in these regions such as China, Australia, Japan, and New Zealand, among others are using drones for precision agriculture, inspection, and surveying on a large scale. Also, the countries in these regions are considering the use of military drones for intelligence, surveillance, and reconnaissance operations.
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