Drones industry to hit $127 billion in value by 2020

While drones have taken off over the last few years as a consumer technology among hobbyists, the industry has been held back in many ways because of regulations. That, however, could change very quickly. Countries are already working on easing restrictions on commercial use, which could be a boost to various industries, including agriculture and filmmaking. The latest estimate from PricewaterhouseCoopers predicts the drones industry could grow to $127.3 billion by 2020, up from just $2 billion today.

Drones are expected to influence many different areas, but the biggest impact is expected to come in infrastructure. PwC predicts drones will add $45.2 billion in value to infrastructure projects. The devices can help with monitoring an area by providing data such as those collected from surveying and improving safety by assisting with maintenance.

Many other industries will also be affected, according to the report. PwC arrived at the $127 billion figure by adding up the impact drones will have in infrastructure, agriculture, transport, security, media and entertainment, insurance, telecommunication, and mining. With so many industries interested in the development of drones, there will be market growth for different types of drones. As PwC noted, some organizations might focus on the flight speed and payload capacity or data collection.

The most popular suppliers of commercial drones, according to PwC, are DJI, 3D Robotics, SenseFly/Parrot and Aeryon. DJI is the only China maker on the list, but it is also the largest drone company in the world. The company's revenue has a CAGR of 97.4 percent, so it continues to grow quickly despite already dominating the industry. The supplier started making a conscious push into the commercial drone space by focusing on agriculture and fire scene inspection. Smaller China companies now offer similar products.