DJI drone is sold in an apple store in Shenzhen. (File Photo)
China has more unmanned aerial vehicle (UAV) manufacturers than the U.S., and Chinese drone companies receive more investment capital than U.S. companies, according to an iResearch report.
Presently, there are over 500 UAV companies around the world, and competition between suppliers is only intensifying. Fewer than 50 companies receive financing, and only four are valued at more than $1 billion. Two of the companies are publically listed.
Since 2015, the number Chinese UAV companies that receive financing has surged, and the amount of the investments has increased rapidly as well. In the U.S., since 2012, UAV companies have maintained a steady growth rate. Chinese UAV companies tend to focus mainly on development and manufacturing, while U.S. companies have more innovation in their service.
The report predicts that by 2025, China aerial UAV market will be worth over $75 billion, including $30 billion for aerial shooting, $20 billion for agriculture, forestry and plant protection, $15 billion for the security industry and $5 billion for electrical inspections.
The report also says that the civilian UAV market is growing. Chinese drone manufacturer DJI Technology Co. dominated China's online drone sales with a market share of 77.4 percent in January and February 2016.
