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Are market forecasts for drones wrong?

PwC recently forecast that the market for drones would be worth over £40billion by 2020, while the banking firm Goldman Sachs, over two years ago, suggested it could be worth $100billion by 2020.

Both very big figures and both very wrong, according to Robert Garbett, Founder and Chief Executive of the Drone Major Group, the UK’s first global trade organisation for the drone industry.

Speaking at the Drone World Congress in Shenzhen, China, one of the world’s leading forums for the drone industry, Garbett said that it would be worth, “much, much more… because the opportunities are far greater than this, since such projections are based purely on an analysis which focuses only on the air industry.”

Garbett believes that the definition of the drone industry needs to be changed to cover surface, underwater, air and space.

“The UAS or air drones, with which we’ve all become familiar, are only one category in a very, varied and exciting industry,” according to Garbett and, with new drone standards coming into effect this year, the industry can expect a further boost.

As a result of those regulations, Garbett believes that improved confidence in the industry’s safety and security will help to power growth.

Whether on land, air or sea, it really does appear that the potential for the drone industry is huge.

Author
Neil Tyler

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