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Video Drone Sales Reach $1.4 Billion in 2015, with Further Growth Predicted
Drone Technology Market Analysis and Commentary
01 Sep 2016 - Futuresource Consulting has announced the release of a new worldwide drone market report, which addresses the potential for the overall drone market, with an in-depth look into the key trends, opportunities and barriers across the video, toy and specialist drone markets. In 2015, video drone sales reached $1.4 billion, with growth predicted across various industrial sectors such as agriculture, the energy sector and emergency services.
"There is a broad spectrum of applications for drones or unmanned aerial vehicles (UAVs). In the consumer market, there are micro drones, used primarily as toys which have limited functionality and control. Then there is the other extreme of drone racing," commented Nicky Price, Market Analyst at Futuresource Consulting. "FPV (First Person View) racing uses more sophisticated configurations and technology which involves a pilot racing through a course using a FPV screen or goggles to display a live image, transmitted by an on board camera. A number of competitive drone racing leagues have already been set up, with the drone worlds scheduled to air on the ESPN sports channel. The event is offering $1 million in prize money to the winner, attracting skilled pilots from around the globe to participate in 3 dimensional race courses at reported speeds of 120mph."
Drones have already revolutionised the professional video and cinematography sectors, enabling visual shots which were previously unattainable without a significant budget. Drones are now expected to also revolutionise image capture in the B2B video world, due to the potential cost savings, improvement in safety and increases in efficiency within agriculture, the energy sector and emergency services.
In the new report, Futuresource Consulting revealed that VC funding for drones exceeded $100 million in 2014, which accelerated product development, including extensive improvements in gimbal technology and affordability. This has brought video drones to the mainstream over the past number years with nearly 500,000 drones registered to the FAA in the USA, and over 2,000 companies registered to fly drones within the UK.
Futuresource is excited to bring this new report to market after responding to market demand for insight in this area. The combination of the consumer and broadcast team allows Futuresource to take a holistic view of the drone industry, providing a solid backdrop for the strategic commentary and an in-depth look at the video drone sector.
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