Regardless if you’re an inventor, a budding entrepreneur or a hardware designer, you’re considered a “maker” as long as you make things. (Photo : Reuters)
Players in the unmanned aerial vehicle (UAV) industry should devise ways on how to resolve issues hindering its raid growth, citing short battery life and technical bottlenecks as a few of the problems it needs to overcome, an industry insider told the China Business News.
The rising popularity of the drone technology in China has gathered the attention of local business firms to invest in the billion-dollar industry. According to the report, such influx of several business players could help build China's reputation in the UAV market.
The wide-ranging technological horizon offered by the booming market covers logistic applications, aerial mapping and wireless fidelity services.
The Consumer Electronics Association revealed that the global UAV market can climb up to at least 6.3 billion yuan ($1 billion) by 2018. The U.S.-based firm also predicted that this year alone, the worldwide drone sales could reach almost half a million units.
The forecast also includes the annual 55-percent growth in the UAV market until an 813 million yuan ($30 million) ceiling is reached.
The said market predictions pushed Dajiang Innovations Technology to launch another fundraising round. The valuation of the world's major consumer drone maker is said to have reached 10 billion yuan ($1.6 billion).
Meanwhile, Guangzhou-based Xaircraft reportedly raised 125 million yuan ($20 million).
Since early 2013, a second round of investors has started to launch UAV-related businesses. The initial round first appeared in the market back in 2007.
Gao Sixuan, a UAV business player, said that the industry has been continuously luring investors over the past years. Gao has been in the drone industry for three years now.
The lucrative market for both the drone itself and the software or applications linked with it is the center of business attraction nowadays. The revolutionary technology is seen as a useful tool for medical relief, geology and wildlife research, and UAV filming and photography.
