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According to a new market research report "Commercial Drones Market by Type (Fixed Wing, Rotary Blade, Quad Rotor), Technology (Energy & Propulsion System, Automation, Collision Avoidance), Application (Government, Agriculture, Manufacturing, Retail) & Geography - Global Forecast to 2020", published by MarketsandMarkets, the total commercial drones market was valued at $15.22 Million in 2014 and is expected to reach $1.27 Billion by 2020, at an estimated CAGR of 109.31% between 2014 and 2020.
Commercial drones are the unmanned air vehicles which are operated without direct human control and are guided by a remote control. The commercial drones industry has witnessed significant technological developments over the last few years. The increase in demand for drones in law enforcement applications and technological advancement are the key drivers propelling the growth of the market. This market in the report has been categorized by products, namely fixed wing, rotary blade, nano, and hybrid. The rotary blade drone held the maximum share of 72% of the overall Commercial Drones Market as of 2014.
The report also covers the key application sectors of the Commercial Drones Market, which include law enforcement, energy and power, manufacturing, infrastructure, media and entertainment, agriculture, and scientific research. Among all the applications, law enforcement is expected to be the largest contributor to the overall commercial drones market.
The Commercial Drones Market for different geographic regions, including Americas, Europe, Asia-Pacific, and the Rest of the World (RoW) has also been covered in the report. The Americas comprised the largest market for commercial drones as of 2014 and are expected to grow at the highest CAGR among all the regions.
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