The global market for multirotor drones is on course to reach $8.3 billion (£ 6.3 billion) within the next seven years, new research suggests.
The market UAVs with more than two motors was worth $1.9 billion (£1.4 billion) last year but is poised to experience CAGR of 20% between now and 2027, according to Stratistics MRC.
It said key factors propelling the market growth include the increasing need for quick access to mission critical locations, the growing use of UAVs in the military and law enforcement applications, and technological advancements to improve the working of multirotor drones.
However, declining defence budgets and lack of skilled and trained pilots are expected to restrain the level of growth.
Moreover, growing demand of drones from the business and commercial sectors could bring new opportunities in the market in the coming years.
Multirotor drones are regarded are regarded as much simpler to operate over other forms of drone as the drone is controlled by changing the relative speed of the rotor and adjusting the thrust produced by each of the rotor.
The report listed a number of “key” players in the multirotor drones market include Aibotix, 3D Robotics-Drone & UAV Technology, Coptercam, Aerovironment, DJI, IAI, MMC, Draganfly Innovations, Microdrones, Aeryon Labs, Cyberhawk Innovations, Multirotor service-drone, Parrot and Yuneec International.