In 2016, safety and security drone sales totaled $145 million. Sales of Safety & Security Drones to Nearly Double by 2019

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Jan 18, 2018, 02:14 ET

NEW YORK, Jan. 18, 2018 /PRNewswire/ -- Sales of Safety & Security Drones to Nearly Double by 2019

In 2016, safety and security drone sales totaled $145 million. This market represents only a small segment of the greater drones industry, but is expected to see significant gains in both the short and long term. Sales are expected to nearly double through 2019 as new technologies become available and awareness of the benefits of these systems rises. Sales between 2019 and 2022 are projected to see even greater gains, increasing nearly fivefold, as commercialization and usage become more widespread.

Read the full report: https://www.reportlinker.com/p05288419

Key Findings in the Safety & Security Drones Study:

Rapid Growth of Commercial Drone Technology & Availability to Drive Safety & Security Drone Gains
The majority of drones being used for safety and security applications are those developed for the commercial market. Strict regulations and high costs have limited the adoption of commercial drones compared to the established military segment and the quickly expanding consumer segment. However, the rapid development of commercial technologies, rising awareness of integrating drones into existing security systems, and services to provide actionable intelligence will lead to explosive growth.

Interest in Analytic & Autonomous Technology Will Drive UAV Software Sales
There are a variety of other factors that will support the expected rapid gains in safety and security drone use, including:
• rising competition and improving economies of scale allowing prices to fall
• ongoing development of more specialized analytic software and capabilities that allow drone systems to more quickly and efficiently gather crucial data for safety and security applications
• desire to reduce labor costs and improve worker safety, while relying on automated systems that are often more accurate

Growth is projected to be particularly strong in the software and services segments. Gains in software sales will benefit from evolving research and development into increasingly autonomous systems and video analytics that can detect anomalies in moving feeds, as well as into network security technology that allows the drone systems to resist cyber threats.

Service revenues will benefit from consulting and training services that help end users determine what drone equipment and software suit their application and learn how to operate them. Interest in leasing equipment in order to spread out the cost and benefit from software update agreements will also support gains. In the longer run, outsourced drone operations services are expected to account for a rising share of revenue, but will compete with autonomous software.

Refinement of Drone Regulations are Expected to Ease Concerns & Support Adoption
The evolving regulatory environment will also shape growth of safety and security drone sales. In August 2016, the FAA introduced Title 14 of the Code of Federal Regulation Part 107, which lifted stricter rules on the operation of non-hobby drones. Going forward, new regulations that help remove gray areas in the legality of operation – how, why, and where – will encourage wider adoption and limit liability concerns among potential end users.

Study Coverage
This study presents historical demand data for 2016 and forecasts (2019, 2022, and 2028) by segment (equipment, services, software), and discusses opportunities by product, service,application (detaining suspects, explosives detection and removal, firefighting, inspection and safety, patrol, search and rescue, surveillance, traffic management, weather and climate analysis) and market (agriculture and livestock, airports, colleges and universities, construction sites, forestry and logging, industrial facilities, government, oil and gas pipelines, parks, prisons, public venues, residential buildings, seaports and docks). The study also presents analysis on industry competitors including Aeryon Labs, FLIR Systems, Lockheed Martin, Physical Sciences, SZ DJI, Textron, UAV Solutions, and Yuneec International.

Read the full report: https://www.reportlinker.com/p05288419

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