China’s fast-growing drone industry is likely to see its market value swell to over $11 billion by 2025, according to a leading professional market research company.
At the end of 2025, the unmanned aerial vehicles will be applied largely in aerial photo shooting, farm chemical spraying and forest protection, as well as security service, state-run Xinhua news agency quoted the research paper of iResearch consultancy firm as saying yesterday.
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The research paper estimated that China’s robust and fast developing drone industry’s market value is likely to reach 75 billion yuan ($11.54 billion) by 2025.
The report calculated that the nation’s civilian drone market had grown by more than 50 per cent over the past years, with its product portfolio becoming increasingly diversified.
Shenzhen-based technology firm DJI, a leading manufacturer of commercial and recreational drones for aerial photography and videography, accounts for almost 70 per cent of the market share worldwide, with Europe and North America its biggest customers.
The paper also outlined several uncertainties and challenges facing the industry such as inadequate regulations of low-altitude flying zones in China and narrow applications of drones.
Technologies need to be updated to make drone products more durable and reliable.