COVID-19 Contributing to Growth in Drone Market

Now used as military as well as commercial utility, drones are set to witness a notable increase in their demand. A powerful tool for business in farming, firefighting, and retail, these are creating lucrative growth opportunities. Additionally, it is quite interesting to note here that favorable and improving policies in a number of countries are helping the market chart growth. From 2019 to 2029, valuation of global drone market is set to improve, opined TMR Research.

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The vendor landscape of the global drone market is competitive. Players that have made a mark include Boeing, Parrot, AeroVironment, 3D Robotics, Textron, and Northop Grumman. The market landscape, it is important to note here, is anticipated to witness entry of new player, who are ready to enter the fray to carve off a share of the growth pie for themselves. Research and development activities undertaken by these players to chart growth are quite extensive.

Additionally, it is quite interesting to note that a Dutch startup by the name of Skytools has been funded by Terra Dorne, The aim of the investment is to ensure a large drone hub is created in Europe’s Rotterdam. In Series A funding, Easy Aerial received USD 6.15 million. This shows how interested investors are to take a piece from the pie and startups clearly represent new blood in the domain, eager to dabble with innovation via technological advancement.

In the current situation, when COVID-19 is marking the global landscape, demand for the drones has only increased further as need to remove humans from social setting increase for prevention of spread of infections. Additionally, these have been asked for surveillance as well as sanitation purposes. In some places, drones have been step to check temperatures. It is a huge step forward for the drones market. As their use gets normalized in a number of applications, the trend might continue over the coming period.

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Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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