Updated: Oct 4, 2020
Drone uptake has been on the rise for commercial and domestic use, and the market is expected to be worth $11.2 billion by 2020, according to a new forecast from Gartner Inc.
Regulatory and perceptual challenges have not diminished the fever of domestic and commercial markets. The domestic drone market is gaining popularity as photographs, selfies, coverage at IPL, and other entertainment options gain prominence. Orchestrated to fly short distances, generally 3 miles an hour up to 1,600 feet, they make a good investment at $5,000.
The commercial drone market is limited and more expensive at this stage in comparison with domestic drones. Regulation has been a big impediment to mass rollouts, but the green shoots are appearing with companies eager to test and deploy drones as part of their automation journey.
Commercial drones are specialized to a function, such as delivery or inspection, and can sustain longer flight time with higher load-bearing capacity. Well equipped with sensors and flight controllers, they are a fairly safe option and come with varying price tags to suit a range of corporate buyers.
It is still early to draw definitive conclusions on drone feasibility, across investment and operational costs parameters, especially for a single delivery. Drone return complexities to the origin, along with other logistical challenges, further complicate the judgment.
Pre COVID-19, the drone delivery market was predicted to be less than 1% of the commercial market by 2020; how far COVID-19 has managed to change that is yet to be ascertained.