Commercial Drone Use Expected To Soar Through 2021

drones, drones construction

Commercial drone use is on the rise, and by recent estimates it could jump as high as 1.6 million units sold over the next four years.

That is according to the Federal Aviation Administration’s 2017-2037 Aerospace Forecast, which said the construction, industrial, and utility inspection sectors account for 26% of today’s commercial drone use, Construction Dive reports.

The FAA released its commercial drone regulations last year, and so far 44,000 units have registered. The agency has also issued more than 29,000 remote pilot certifications to date.

Though the unmanned aircrafts have become increasingly important to the industry, the new technology is presenting liability risks that insurance companies are stepping in to capitalize on. At present the construction and infrastructure sectors account for more than $45B of drones' total $127B market value, according to PricewaterhouseCoopers.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Data Center Leaders Aren't Sweating Calls For An AI Slowdown

REPORT: Amazon Eyes Next Industrial Push With Plans To Expand Same-Day Deliveries

First Rate Hike Since 2023 Lands Atop 5% Treasury Yield, Ratcheting Up Capital Pressure

Inside The Nationwide Jockeying For Opportunity Zones 2.0

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Data Center Spills 5,000 Gallons Of Fuel Into New Jersey River

Hines And Rialto Close Office Credit Fund At $1.1B

Chipotle Adding Hundreds Of New Locations Worldwide

'Beyond A Routine Wobble': 10-Year Treasury Clears 5% Ahead Of Key Fed Meeting

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Airbnb Launches $250M Fund To Invest In Affordable Housing

Brookfield Buys Minority Stake In Hyperscale Data Center Developer AREP