(MENAFN- America News Hour) In a recently published report, GCC(Gulf Cooperation Council ) Drones Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for GCC(Gulf Cooperation Council ) Drones Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
GCC Drones Market is valued approximately at USD 0.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.15% over the forecast period 2020-2027. With an increasing emphasis on travel and tourism, as well as a large oil and gas manufacturing base, the GCC provides enormous potential to the drone industry for expansion. Drones are likely to be more widely used in the construction, energy, and entertainment industries in the coming years as demand grows. Drone use has accelerated in the region over the last few years, and with countries in the region enabling restrictions for the use of drones, civilian end-users now have more flexibility in using drones in the GCC countries, which is projected to boost industry opportunities over the forecast period.
As per Institut français des relations internationals, the GCC countries seek to transform economically and socially, they have expected nearly USD 1 trillion in megaproject investments. As of 2020, 30 real estate megaprojects are under construction in the six GCC countries, with most of them scheduled to be completed this decade. In this regard, the number of construction companies and real estate developers in the Gulf Cooperation Council (GCC) are incorporating drone technology into their operations. Furthermore, after the COVID-19 pandemic stopped construction operation in the first half of 2020, GCC construction industry participants have introduced drones to reduce site time wastage and perform operations at a more precise and quicker speed than manual methods.
For instance, According to Falcon Eye Drones (FEDS), one of the region's leading suppliers of drone technology, a growing number of building companies and real estate developers in the GCC are using drones to help them get back on track after the effect of COVID-19. During the forecast period, such factors are projected to boost the demand. However, the volatile nature of the relations amongst the countries and the drone attacks on the oil production facilities are anticipated to hinder the market growth, over the forecast period of 2020-2027.
Major market player included in this report are:
SZ DJI Technology Co., Ltd.
Parrot Drones SAS
Primoco UAV SE
Yuneec Holding Ltd.
Guangdong Syma Model Aircraft Indl Co. Ltd
Autel Robotics
FalconViz LLC
Terra Drone Corporation
Merlin Digital
Northrop Grumman
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Construction
Agriculture
Energy
Entertainment
Law Enforcement
Other Applications
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.
Target Audience of the Global GCC Drones Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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