A new report forecasts that the commercial drone market will exceed $15.1 billion by 2027.

The Strategy Analytics Advanced Defense Systems (ADS) service report, “Commercial UAS Market Outlook 2017-2027” predicts that 49% of demand for commercial drone platforms by 2027 will be in the agriculture, commercial security and first responder sectors.

The report also predicts that Europe, Asia Pacific and North America will account for over 83% of the total global demand.

The report cautions, however, that regulatory frameworks may not evolve to support the drone industry.

“To achieve mass adoption of commercial UAS platforms across government and enterprises and achieve this $15 billion potential will be almost singularly contingent upon the establishment of favorable regulatory frameworks,” noted Asif Anwar, Director of the ADS service. “Existing regulations that currently underpin the use of UAS platforms will need to evolve and expand, especially as drone usage enables applications that require sharing of civilian airspace as well as the ground infrastructure currently used exclusively by manned aircraft.” Read more…