Drone Market

Buckle up and screw on your hats, dronies: The currently booming market in unmanned aerial vehicles (UAV) is set to blast into the stratosphere over the next several years.

Valued at $19.5 billion in 2019, the global market for all types of airborne drones is expected to surpass $55.6 billion by 2027, according to a new forecast by Research Dive.

Military and defense applications are projected to continue to dominate about half of total spending during that period. However, business in consumer drones is set to outpace the security side in annual rates of growth for most of the coming decade.

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Drone Industry Insights has just released its 2020 report, which features a five-year outlook. The drone market is set to be worth $42.8 billion by 2025. The latest report also outlines the biggest drone adopters, drone uses, and the impact the COVID-19 pandemic has had on the industry.

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In a research report titled ‘Drones Reporting For Work‘, Goldman Sachs forecasts the global drone industry to reach $100 billion by 2020. The investment bank calls it an opportunity “too large to ignore”. It shouldn’t come as a surprise that the biggest part of the global drone business is taken up by the military. The Defense drone market will be good for $70B. The consumer drone market comes in at a second place, with a market size of $17B by 2020.

This report was published some time ago, but it makes sense to share it here in light of the recent developments in drone regulation.

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