“Drones will be more impactful than people think — in positive ways — to help society.”Bill Gates
What used to be known as high end expensive systems used solely by military agencies is now becoming an accessible commodity — opening up a whole new sector of opportunities in the commercial space. We’re talking about drones, of course, and the growing prominence of drones-as-a-service coupled with expanding applications in executing high-risk tasks in several industrial sectors is creating a global marketplace, projected to exceed $125 billion by 2025.
With their improved maneuverability and reduced capital costs, drones are quickly upstaging conventional manned aircraft. They’re a particularly effective alternative in remote locations and high-risk scenarios. As they mature technically and their prices drop, a wide range of application opportunities will open up — anywhere from infrastructure to filmmaking to insurance.
As drone technology evolves, there’s an increasing demand for better aerial imagery, remote sensing and air surveillance capabilities. And as sensors have become more advanced and computing capabilities faster, there are more opportunities for UAVs to be used in commercial applications. These new-gen drones have better navigational capabilities, can carry increased and diverse payloads, undertake longer flights, and ensure softer landings.
The US represents one of the largest drone markets worldwide. The US Federal Aviation Administration (FAA) is currently involved in finalizing regulations which allow drones under 55 pounds to operate safely. NASA is leading the world in UAS (drone) traffic management research and development. Europe is poised to witness the fastest growth led by relaxation in the regulatory landscape and expanded applications. The potential for drones in Asia and Africa for life-saving services is growing at a steady pace. With all of this considered, the drone industry is about to take off — from here to the sky .
Come get in on the action at our new, drone-specific track we’re excited to offer at this year’s TiEcon.