Unmanned aerial vehicles market expected growth – research

UAVs usage for such purposes, like remote sensing, photo and video, oil, disaster relief, recreational uses, etc are driving the increase

unmanned aerial vehicles

Unmanned aerial vehicles market expected growth – research. Source: shutterstock.com

According to Mordor Intelligence research, the market for unmanned aerial vehicles (UAV) is expected to grow at a compound annual growth rate (CAGR) of more than 10% by 2024.

Beside, UAVs are now being largely used in performing intelligence, surveillance and reconnaissance (ISR) missions, the target recognition, and electronic warfare. Due to the fact that UAVs reduce the risk of loss of human life, they have gained significant value among various governments in the last 10 years.

UAVs growth worldwide. Source: prnewswire.com

The research says that the US is a proven global leader in producing advanced unmanned systems, and a specialist in manufacturing UAVs with ISR capabilities to combat warfare.

At the same time, Asia-Pacific is expected to register the highest CAGR, during the forecast period.

That’s due to the growing popularity of UAVs in the Asia-Pacific region, as well as increasing technological developments of drones and changes in regulations.

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