The business opportunities for you to get into the drone business in 2020 are virtually endless.
Hopefully, this blog will also give you ideas that will help you to do so. There is no doubt that the opportunity is here to get ready and to be prepared for an economy that is powered by drones.
The fact that drones are starting to become a major part of our everyday lives is clear evidence that UAVs have managed to start trends, and increased those trends, so that there is a significant shift in the economy toward robotics in general, and drone technology, specifically.
Economists estimate that the drone services market will grow during the period from 2021-2027 by a projected $124.1 billion worldwide. This is based on the analytical expectations that the drone market will be driven by a revised, compounded annual growth rate (CAGR) of 80.6%.
The economic forecast is that the U.S. needs to readjust to a 74.1% CAGR. Within Europe, Germany is expected to reach over $2.1 billion to the region’s size, over the next 7 to 8 years. In addition, over $5.5 billion worth of projected demand in the region will come from the rest of the European markets. In Japan, the Aerial Photography & Remote Sensing sector, is expected to reach a market of $1.4 billion by the end of 2027.
The changing relationship between China and the rest of the world will influence competition and opportunities in the drone services market. Even considering this fluid situation, the world’s second largest economy is projected to grow at 66.2% over the next couple of years and add around $7.3 billion in the market.
The following are 40 reasons why you should be interested in getting into a drone business:
- Delivery System
- Small Business Delivery
- Unmanned Cargo Transport
- Aerial Photography
- Disaster Management
- Search and Rescue Operations
- Geographic Mapping of Inaccessible Terrain and Locations
- Mapping and Industrial Inspection
- Residential Home Inspections
- Precision Crop Monitoring
- Law Enforcement
- Control Surveillance
- Storm Tracking and Forecasting Hurricanes and Tornadoes
- Fishing & Hunting
- Construction, Building
- Safety Inspections
- Recreational Use & Entertainment
- Law Enforcement
- Special Events & Family Fun Occasions
- Advertising & Market
- Fire Fighting
- Imaging Structures
- Counting Stockpiles
- Monitoring Weather Patterns
- Environment & Conservation
- Filmmaking, Media & Movies
- Photography & Videography
- Music Concerts and Festivals
- Warehouse Inventory Management
- Repair Service
The opportunities listed here are some of the growing industries. After understanding the basic concepts behind drone usage and its business potential, time should be taken to assess possibilities and figure out what your weaknesses are and what your biggest strengths are. It is extremely important to give more weight to the strengths than the weaknesses.
The first step in getting into business in the drone market, is to enroll in a program that is approved by FAA’s aeronautical training program to get a Remote Pilot Certificate, which qualifies you to be able to commercially conduct a full-fledged drone business.
Before getting started with a drone-related business, it is essential to check local regulations on the commercial use of unmanned aerial vehicles (UAVs).
Unexpected uses of drones are appearing on the scene every week and their evolution is expected to surge with time after drones become available to the public.
It was only a matter of time before entrepreneurs woke up to the fact that these drones presented massive business opportunities.