From Toys to Tools: The Co-Evolution of Technological and Entrepreneurial Developments in the Drone Industry

Posted: 19 Jul 2019

See all articles by Ferran Giones

Ferran Giones

University of Stuttgart; University of Southern Denmark

Alexander Brem

University of Erlangen-Nuremberg-Friedrich Alexander Universität Erlangen Nürnberg - School of Business & Economics; Mads Clausen Institute

Date Written: December 1, 2017

Abstract

There is undoubtedly hype around drones and their applications for private and professional users. Based on a brief overview of the development of the drone industry in recent years, this article examines the co-evolution of drone technology and the entrepreneurial activity linked to it. Our results highlight the industry emergence described as concept validation, including product as well as market growth with different phases of technological meaning change. We argue that further steps are needed to develop drones from nice toys to professional tools — from photography and filming applications to inspection services and large cargo logistics. For innovation managers and entrepreneurs, we describe what triggers the emergence of a technology and attracts the needed actors to unleash its transformative potential. Our research is based on industry reports, news, and market studies as well as interviews with four industry actors.

Keywords: technological progress, entrepreneurial activity, drones, drone industry, emerging industries, unmanned aircraft systems, unmanned aerial vehicles, drone development

Suggested Citation

Giones, Ferran and Brem, Alexander, From Toys to Tools: The Co-Evolution of Technological and Entrepreneurial Developments in the Drone Industry (December 1, 2017). Business Horizons, Vol. 60, No. 6, 2017, Available at SSRN: https://ssrn.com/abstract=3296934

Ferran Giones

University of Stuttgart ( email )

Keplerstraße 17
D-70174 Stuttgart
Germany

University of Southern Denmark ( email )

Campusvej 55
DK-5230 Odense, 5000
Denmark

Alexander Brem (Contact Author)

University of Erlangen-Nuremberg-Friedrich Alexander Universität Erlangen Nürnberg - School of Business & Economics ( email )

Nuremberg
Germany

HOME PAGE: http://www.tm.rw.fau.eu

Mads Clausen Institute ( email )

Alsion 2
Sønderborg, 6400
Denmark
004565509246 (Phone)

HOME PAGE: http://www.sdu.dk/mci

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