UAV Market worth $38.3 Billion by 2027

CHICAGO, Oct. 14, 2022 /PRNewswire/ — UAV market is projected to grow from USD 26.2 billion in 2022 to USD 38.3 Billion by 2027, at a CAGR of 7.9% from 2022 to 2027, according to a new report by MarketsandMarkets™. The market growth can be attributed to growing increased adoption of UAS in commercial applications and increased procurement of UAVs by military forces worldwide.

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The acceptance of UAVs or drones has steadily been increasing across the world for use in law enforcement and commercial applications. UAVs are witnessing increased demand owing to their cost-effectiveness and advancements in them over the last couple of years.

Rising demand for military C4ISR capabilities is driving the demand for UAVs. Drones are used to gather data about ongoing and life-threatening military missions with the…