Drones are predicted to be big business this year as a new study reveals that revenues from commercial products could hit as much as $481 million.
This would be an 84 per cent surge in sales on last year’s figure of $261 million.
Taken from a study conducted by Juniper Research, the new research found that lower price points in the market had reduced the barrier to entry, with high performance drones now available for less than $3,000.
Of the many commercial uses for drones, it is in the agricultural and television sectors that the market is seeing the most growth. However, the research predicts that use of drones for delivery purposes will remain constrained owing to safety and security concerns.
What it means for drones in the toy space is yet to be seen, but for leading RC specialist, Top Race the market has proved to be big business both in the US and across Europe, where it has recently seen sell out success throughout the Chirstmas period.
The firm now expects 2016 for the drone market and its own enahnced offering.
The recent research on the commercialisation of the drone sector was outlined in the document titled Drones: Consumer and Commercial Applications, Regulations and Opportunities.