If you've shopped for residential property online lately, especially waterfront property, you may have noticed some amazing photographs. Chances are they were taken with a professional camera mounted on an unmanned aircraft system, commonly called a drone.
Likewise, many action sequences in movies are being filmed using drones — giving rise to the New York City Drone Film Festival, now in its second year.
The use of drones is spreading rapidly, presenting significant growth opportunities for commercial enterprises and their insurers. Just how big is the potential market? According to data gathered by Statista, commercial unmanned aerial vehicles are set to contribute billions to the U.S. economy. By 2025, the direct economic impact of the commercial drone sector is expected to reach $5 billion.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
