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Drones, which are also known as UAV (unmanned aerial vehicle), was first used in 1839 by Austrians soldiers in the shape of a balloon filled with explosives, through which they attacked Venice. Although most of them blew at Austrian’s border and some were able to enter the city of Venice.
The global commercial drones market size reached about US$ 4.5 billion, in 2018, and is expected to reach around US$ 12 billion in 2025.
Drones got quite an attention during World War 11, and the Cold War, but the modern wave of drones started in the 1980s. At that time, most of the people considered them to be useful just for military purposes, due to its high price and maintenance. But with developments and advanced technologies for communication, drones are now not only used for military purposes but in various other commercial areas.
Nowadays, we see drones usage almost everywhere, from photography to agriculture drones. The rapid adoption of drones is due to low price and easy maintenance, which was not possible in the old days. The commercial drones are mostly used by various sectors such as agriculture, media and entertainment, construction, energy, archaeology, government, and environmental purposes. The average price of commercial drones around the world is estimated between US$ 1,000 and US$ 10,000 depending on the size and services of a drone.
The growth of the market seems moderate due to easy access to around the world, substitution in various manual operations of different businesses, and the addition of more advanced services.
North America seems to have the largest market share compared to other regions. It accounts for the largest share due to the vast investments by US companies. In the Asia Pacific, China is developing its commercial drones market with quite a good pace and adopting drones in various commercial businesses.
Some of the top manufacturers of commercial drones include DJI, Yuneec, Boeing, GoPro, 3D Robotics, Parrot, Autel Robotics, Hubsan, and Lockheed Martin Corp.