Toronto, ON (June 4, 2015) – In a new report, Marsh has noted that drones are not just getting underway or coming down the pipeline – they are here today, already in use. More than one million unmanned aerial systems (UAS) will be operated commercially this year, and that figure does not consider personal hobbyists or military applications.
And the volumes are expected to grow dramatically by 2025:
- 10 percent of the global civil aviation fleet will be unmanned;
- Global spending on UASs will exceed US$11.5 billion.
The report describes insurer considerations in writing coverage for drones, summarizes the status of drone-related regulations in 26 countries, covers factors driving the growth of drones, and more.
The projected growth of the unmanned aerial systems (UAS) sector is nothing short of phenomenal, and perhaps unsurprisingly the potential economic benefits are considered to be vast.
Commercially, a number of large corporations are already planning to use UASs, which are also known as drones, to enhance their services; they are also performing valuable humanitarian operations. The advantages of using this type of technology are numerous: hugely increased flight durations, expeditious deployment, low operating costs, and ultimate agility when flying in dangerous or hard-to-access locations.
Marsh’s report, Dawning of the Drones: The Evolving Risk of Unmanned Aerial Systems, indicates that insurance capacity for drone operations is plentiful. Insurers are actively underwriting policies to secure an early foothold in the sector, despite many regulators struggling to develop regulations that permit drone use, due to concerns about privacy and national security.
The report also discusses insurer considerations in writing coverage for drones, summarizes the status of drone-related regulations in 26 countries, covers factors driving the growth of drones, and more.
Read the report to find out more about this rapidly evolving sector and its insurance implications.
Marsh is a global leader in insurance broking and risk management. We help clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. We have approximately 27,000 colleagues working together to serve clients in more than 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and human capital. With more than 54,000 employees worldwide and approximately $12 billion in annual revenue, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting.