The Drone Flight Management System Market research report has been added to Technavio‘s catalogue. The market is anticipated to witness healthy growth at a CAGR of 30.47%. This growth can be attributed to increase in legal acceptance of drone operations for commercial applications.
However, lower battery life and carrying capacity of drones can hamper the growth of the market during the next few years.
43% of the market’s growth will originate from APAC during the forecast period. China is the key market for drone flight management systems in APAC. Market growth in this region will be faster than the growth of the market in the European and North American regions. Technological advances in the field of electronic components have led to the development of technologically advanced equipment across the country. China is also witnessing the swiftly growing adoption of drones in the agriculture, construction, defense, and mining industries. This will facilitate the drone flight management system market growth in APAC over the forecast period.
One of the key factors driving growth in the drone flight management system market is the increase in legal acceptance of drone operations for commercial applications. Considering the growing applications of drones, governing bodies are likely to legally accept commercial drone operations. Legalizing drone applications will create new job opportunities as a license is required for operating a drone. The demand for drones is likely to increase with the legal acceptance of drones by governing bodies. Drones are effectively reducing the time required for surveying land. Moreover, drones have delivered new approaches to video recording, photography, event organization, aerial security, and delivery.
Considering all these aspects, the governing bodies are readily incorporating drone-supportive legislation. This is likely to fuel the demand for drones and subsequently for drone flight management systems during the forecast period.
Major Five Drone Flight Management System Companies:
- AeroVironment Inc.
- Autel Robotics
- Black Swift Technologies LLC.
- DELAIR SAS
- Elbit Systems Ltd.
The lower battery life and carrying capacity of drones will be a major challenge for the drone flight management system market during the forecast period. Drone batteries drain in about 30 minutes of drone application, limiting the flight distance to 10 kilometers. Drone manufacturing companies are increasingly focusing on enhancing the drone battery to expand the area of drone application. Lithium-ion and lithium polymer (LiPo) batteries are widely used in drones. The low battery life of drones is encouraging the development of drones powered by alternative energy sources.
Solar power and hydrogen fuel cells are the options available for drone manufacturers but manufacturing cost-effective and compact drones using these energy sources poses a great challenge to drone manufacturers. Enhancing the load-carrying capacity, reducing the overall cost of drones, and enhancing the battery life of drones are the major challenges faced by drone manufacturers.
These factors are expected to limit the adoption of drone flight management systems.
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Source: Press Release