World News: 15:11 GMT Thursday 10th October 2019. [Transparency Market Research via Globe Newswire via SPi World News]
Albany, New York, Oct. 10, 2019 (GLOBE NEWSWIRE) -- The first record of using an unmanned aerial vehicle or a UAV was in early 1980s in Japan. Then these vehicles were deployed to spray insecticides on the rice fields. Over the years, the UAV technology has offered several new and advanced applications to a wide range of end-use industries. The end-use application industries range include mining, security, healthcare, wildlife, forest, disaster management, traffic management, urban development, and agriculture among others. The use of UAV has helped these industries to gather highly precise data in cost-efficient manner and that too in real time. Naturally, the growing demand for such unmanned aerial vehicles is expected to be the primary driving factor for the growth of the global UAV propulsion system market.
According to a recent research report by Transparency Market Research, the global is expected to exhibit a massive CAGR of 13% during the projection period of 2019 to 2027. During this period, it is forecasted that nearly 5.8 Bn units will be sold by the year 2027. Naturally, it is safe to conclude that the UAV propulsion system market is on course to achieve stellar growth in near future.
There are however some factors that are creating a roadblock in the fast-moving development of the market. One primary area of concern is the lack of clear operating regulations for UAV. Due to lack of such clearly defined mandates, there are chances of technology abuse going unpunished or unregulated. Recently, the government of India had put restrictions on the use of drones. The ban is now set to be lifted with clear guidelines defined by the government before the use of drones in public, commercial, or government controlled areas.
This review is based on the research report published by Transparency Market Research titled, “UAV Propulsion System Market (Type: Electric Propulsion Systems, Thermal Propulsion Systems, and Hybrid Propulsion Systems; Range: Long Range, Mid-Range, and Short Range; and End User: Military & Civil, Commercial, and Consumers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027”
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhocreports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for right methodology of research is the key tohelp enterprises reach right decision.”
Globe Newswire: 15:11 GMT Thursday 10th October 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.