ROCKVILLE, Md., Feb. 24, 2022 (GLOBE NEWSWIRE) — According to a recently published Fact.MR report, the global Drone market is projected to grow at a compound annual rate (CAGR) of 25% between 2022 and 2032. The market is expected to reach US$ 279 Bn by the end of 2032.
During the COVID-19 pandemic, the market for drones experienced multiple fluctuations. In certain industries such as manufacturing and hospitality, prospects significantly narrowed throughout 2020, attributed to cessation of all activity in these domains due to the imposition of lockdowns. However, drones became necessary for general surveillance purpose, especially to ensure that social distancing protocols were maintained.
From 2017 to 2021, the industry experienced an impressive incline at a CAGR of 23.5%. During the COVID-19 pandemic, prospects dimmed across certain sectors, including manufacturing and hospitality, while deployment for general surveillance purposes, especially to check whether individuals…
