How various industries are taking advantage of drones to increase efficiency and cut costs
Drones — also commonly referred to as unmanned aircraft — are no longer a cool, new novelty that companies in only a handful of industries are testing.
Businesses across various industries and levels of government in the US are utilizing at least a handful of drones. But more importantly, drone users are now realizing a deep return on their investments from the aircraft's ability to help save hours of time and labor.
However, to successfully get a drone program up and running, businesses need to have an idea of what they want the aircraft to do, and the value they hope to create. To that end, companies need to know what their competitors are doing with the aircraft so they can plan their own projects accordingly.
In this report, Business Insider Intelligence details how unmanned aircraft are disrupting a slew of different industries, including agriculture, construction and mining, insurance, media and telecommunications, and the public sector. We also size the market for global enterprise drone shipments, and pinpoint the features that make drones useful tools within different industries. Lastly, we make predictions for how drone use in these industries will evolve over the next five to 10 years and to what extent their impact will be magnified over this period.
Here are some of the key takeaways:
- Since the Federal Aviation Administration (FAA) implemented its Part 107 regulations for unmanned aircraft in August 2016, the commercial drone industry in the US has taken off.
- Companies across the US have rushed to deploy drones to cut costs, boost operational efficiency, and open up new streams of revenue. Meanwhile, firms elsewhere in the world have taken notice and ramped up their own drone projects.
- Unmanned aircraft have the potential to create the greatest business value in the construction, mining, and agriculture industries. The agriculture industry was a relatively early adopter of drones, and today one-third of farmers in the US plan to use at least one drone this year. Meanwhile, drones will have a less significant, yet noticeable, impact on media, telecommunications, and insurance businesses.
- Drones will lead these industries to become highly data-driven in the coming years, making the aircraft a must-have for companies to keep pace with their competitors. They will allow businesses to synthesize and analyze trends in their workflows to bolster their operational efficiency and predict problems before they happen.
In full, the report:
- Analyzes the development of drone use across five different industries.
- Offers a look at how drone use in these industries will evolve over the coming years.
- Sizes the market for enterprise drone shipments over a seven-year period, both in the US and abroad.