Small drone market to drive industry worth to £30bn by 2025

UAV Global

The small drone market is set to grow, and could be worth £30.6bn by 2025 according to new market research.

With the current market being valued at £10.2bn, the figures suggest that within seven years the industry would have grown by £20.4bn.

If correct, the research, carried out by MarketsandMarkets, has indicated a compound annual growth rate (CAGR) of 17.04%.

Story continues below
Advertisement

The increasing use of small drones in civil & commercial and military applications is one of the most significant factors expected to drive the growth of the small drones market.

The civil & commercial application segment of the small drones market is projected to grow at the highest CAGR during the forecast period.

Properties of small drones such as portability, high efficiency, and low operating costs have fuelled the use of small drones in civil & commercial applications.

Asia Pacific is projected to be the fastest-growing market for small drones between now and 2025.

The research outlined Northrop Grumman, Boeing, DJI, Parrot, Lockheed Martin, Textron, AeroVironment and Israel Aerospace Industries as the current key players in the market.

Tags : IndustryMarketSmall DroneSmall UAV
Alex Douglas

The author Alex Douglas

1 Comment

Leave a Response