Ohio has historically been a primary manufacturing hub for the creation of steel, uranium, aluminum, polymers, and glass. The development of these industries led to secondary manufacturing in motor vehicles, aerospace products, electrical equipment, and appliances.
And now perhaps, drone manufacturing, maintenance and repair, operations training and certification, and public policy.
For years, the drone market was in a nascent phase and had yet to break into the mainstream. Then, in 2016, drone industry growth took flight when the Federal Aviation Administration (FAA) granted hundreds of new exemptions for companies to operate drones in the U.S. through FAA Part 107.
These exemptions included several new use cases in multiple industries, such as insurance, construction, and agriculture — each of which demonstrates the broad range of commercial drone applications.
The FAA helped push commercial drone market growth forward by formulating a regulatory framework with its consumer drone registry. Now, drone manufacturers and tech suppliers are doing all they can to capitalize on this and turn drones into a full-fledged industry.
In terms of opportunity for job growth, the drone services market size is expected to grow to $63.6 billion by 2025, and Insider Intelligence predicts consumer drone shipments will hit 29 million by 2021.
Sales of US consumer drones to dealers surpassed $1.25 billion in 2020, according to Statista. Goldman Sachs forecasts the total drone market size to be worth $100 billion—supported by this growing demand for drones from the commercial and government sectors.
Content aggregated by Stuart C. Mendel
NEOFIX Project Director
04/17/2023
Sources
Soaring to new heights, together.
Be sure to visit the BWU Technology Partnerships Initiative website to learn more about how our NEOFIX program drives economic growth, promotes policy and infrastructure to improve drone safety and efficiency in various industries, and ensures that drone technology is being used responsibly.