According
to Drone Industry Insights, the drone market will grow from USD 14.1 billion in
2018 to USD 43 billion by 2024. This strong growth of 20.5% CAGR is a
reflection of the ongoing high investments and the consolidation of the
commercial drone market.
Source: Goldman
Sachs (2016)
The
commercial drone market will drive the industry forward with its growth
opportunity. By 2021, the commercial drone industry will have sold 1,000,000
units. The US and China currently dominate the commercial drone market. Their
revenue together makes up over 2/3 of the global drone market. And India, having
legalized drones at the end of 2018, will
be by far the fastest growing commercial drone market. By 2024, it will develop
into the 3rd largest commercial drone market in the world.
With
drones, less human operation is required and therefore, businesses save time
and costs. Drones can also enhance data analytics, which allow companies to
better comprehend and predict operating performance. They will even provide new
business models and opportunities to businesses.
How
can drones be used for commercial?
1.
3D Mapping
This
helps businesses to survey sites, take photos and create maps. In agriculture,
farmers can get clearer idea of what crops look like, and help them to make
data-driven decisions. Same goes to construction and mining, where drones can
accurate contour maps, monitor change over time, and share insights via the
cloud.
2.
Delivery
Drones
can bypass the traffic congestion and make delivery more easily. In some rural
places, drones can be serve for medical purpose. It could deliver urgent
medical supplies in shorter time to hard-to-reach areas. In these areas, flying
is sometimes more efficient than driving and can be an effective substitute for
more expensive solutions like helicopters.
3.
Inspections
Hard-to-reach
areas are now reachable with drones. People are using drones for
telecommunication tower inspection, as well as inspection on pipelines, solar
panels, electric grids, and offshore platforms. Some insurance companies also started
to use drones to determine cause, liability, responsibility and total damage
after events like natural disasters.
4.
Data Transmission
Drones
can amplify internet network signals and access remote locations such as
deserts or sprawling areas of Africa or Asia. An all-wireless network in the
sky would be less expensive, less disruptive, and would take less time to build
than land-based infrastructure. Google
has been reportedly testing solar-powered broadband drones to support the
implementation of Project Loon, a network of balloons traveling on the edge of
space to extend connectivity.
Source: Project
Loon
In
Malaysia, the oil palm industry is a potential market for the use of drones. Images collected from drones help palm oil
companies to spot fires in remote and inaccessible areas. Drones are also capable
in collecting data that can be used to decide if crops have enough water and
nutrients, and even to find leakages in irrigation systems. This makes the oil palm
industry shift from dependence on manual labor to becoming one of the
fastest-growing markets for commercial unmanned aircraft (The Star, 2019).
Also in Malaysia, we have a ‘Super Drone’ here (also
known as the ‘Flying Car’). This is a joint venture project between EastCap Bhd
and Chinese firms, EHang Intelligent Equipment (Guangzhou) Co Ltd and Strong
Rich Holdings Ltd. According to EastCap, ‘Super Drone’ was not meant for
transport use, but for applications such as border patrol and as an emergency
aid vehicle. Its plan includes the construction of an assembly facility in
Malaysia with a production capacity of 10,000 units a year with 2,000 job
opportunities.
Today, drones are not only for military, or just
for hobbyist. Tech and retail giants like Amazon, Facebook, Wal-Mart, and
Google have already invested heavily in drones. The future of drones being used
for commercial purpose is no longer as far off as many thought. Instead, it has
already begun!
Reference:
1. Francesco Castellano, Commercial Drones Are
Revolutionizing Business Operations https://www.toptal.com/
2. Drones that do the work of 500 farmers are
transforming palm oil, 20 Nov 2019, The Star
3. Redzuan sneaks a peek at 'Super Drone', 21 Nov
2019, MalaysiaKini
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