Global Autonomous BVLOS Drone Market to Reach $34.65 Billion by 2029

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Nov 08, 2019, 07:30 ET

FREMONT, California, Nov. 8, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global Autonomous BVLOS Drone Market − Analysis and Forecast 2019-2029", the Beyond Visual Line of Sight (BVLOS) drone market generated revenue of $18.87 billion in 2018 and is projected to grow at a CAGR of 5.94% during the forecast period from 2019 to 2029. The market is projected to reach $34.65 billion by 2029.

Browse 39 Market Data Tables and 144 Figures spread through 267 Pages, and in-depth TOC on "Global Autonomous BVLOS Drone Market".

The BVLOS drone market is currently witnessing a high growth rate, owing to the exigency for improved productivity, speed, and efficiency, need for overcoming the safety concerns of labor working around robots in shared workplaces, and the continuous decrease in size of the available workforce. In addition, the rise in awareness regarding BVLOS drones is propelling their demand, especially in the developing economies.

Over the last few years, there has been an extensive advancement in drone technology. Many organizations are trying to use drones for applications such as package delivery, asset management, and surveillance. Time and efforts can be greatly reduced by using drones in these applications. Beyond visual line of sight (BVLOS), with combination of autonomy is a new and emerging form of technology that is being adapted by drones for commercial, military, and government applications.

BIS Research Report: https://bisresearch.com/industry-report/autonomous-bvlos-drone-market.html

Moreover, the increase in demand for autonomous drone solutions is expected to serve multiple industries, resulting in their high adoption, both in developing and developed countries. Also, the advent of new application areas for BVLOS drones is one of the major factors expected to create lucrative opportunities for the global autonomous BVLOS drone market in the coming five years.

According to Sudheer Uniyal, Lead Analyst at BIS Research, "The increasing demand for autonomous BVLOS drones in different end-use industries is compelling the drone manufacturers to develop drones with more payload capacity. Drones with high payload capacity and endurance can easily perform the monitoring and delivery tasks."

In addition, the regulatory bodies have framed stringent rules and regulations to monitor UAV operations in their respective country's airspace. No-fly zones have been demarcated as those areas where UAVs are restricted from flying. Further, a detailed set of rules exist for various kinds of UAV operations, such as commercial, research, and recreational.

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The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented on the basis of type, application, component, mode of communication, and region. The report also includes a comprehensive section on the geographical analysis for North America, Europe, Asia-Pacific, and Rest-of-the-World.

Some of the key players in the global autonomous BVLOS drone market include AeroVironment, Inc. (U.S.), Airbus S.A.S. (Netherlands), BAE Systems (U.K.), Elbit Systems Ltd (Israel), Flytrex Aviation Limited (Israel), General Atomics Aeronautical Systems, Inc. (U.S.), Insitu, Inc. (U.S.), Israel Aerospace Industries Ltd. (Israel), Northrop Grumman Corporation (U.S.), Saab AB (Sweden), and Textron Systems (U.S.).

Key Questions Answered in the Report:

What are the trends influencing the growth of the global autonomous BVLOS drone market?
What are the major driving forces, challenges, and opportunities present in the global autonomous BVLOS drone market during the forecast period 2019-2029?
How much revenue was generated by different segments of the market in 2018, and how much revenue is expected to be generated by different segments, on the basis of:

Type, including fixed wing, rotor type, and hybrid
Application, including critical infrastructure inspection, precision agriculture, package delivery, mapping, mining, construction, insurance, conversation management, border patrol, search & rescue, firefighting and police work, and intelligence, surveillance and reconnaissance (ISR)
Component, including camera, sensors, communication unit, autopilot, sense and avoid, synthetic aperture radar (SAR), and others
Mode of communication, including radio, cellular, and satellite
Region, including North America, Europe, Asia-Pacific, Rest-of-the-World (ROW)

Which are the key players operating in the global autonomous BVLOS drone market, and what are the new strategies adopted by the market players to make a mark in the industry?
What are the competitive strengths of each of the key leading players in the autonomous BVLOS drone market?

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About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we not only provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

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