The skies the limit for world drone market, PwC says

Drone market By Wojciech Moskwa

Drones will soon be boosting crop yields, verifying insurance claims, and assisting in future Hollywood blockbusters in a business that’s due to boom by more than 6,000 per cent by the end of the decade.

The global market for commercial applications of drone technology, currently estimated at about $2 billion, will balloon to as much as $127 billion by 2020, consulting group PricewaterhouseCoopers LLP said in a report published Monday.

With Poland leading the way in drafting laws for the commercial use of unmanned aerial vehicles, non-military applications are already being designed that may revolutionize thousands of industries.

One project envisions drones flying over wheat fields to detect areas where crops are failing and then calling in reinforcements to tackle affected zones by spraying pesticide or nutrients.

“The cost of drone technology is falling so quickly that a number of everyday applications are becoming cost-efficient,” Piotr Romanowski, a PwC partner and Business Advisory Leader for central and eastern Europe, told reporters.

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