Increasing Usage in Civil and Commercial Applications Boosts Sector
Unmanned Aerial Vehicle (UAV) Market
Dublin, Nov. 07, 2022 (GLOBE NEWSWIRE) — The “UAV Market by Point of Sale, Systems, Platform (Civil & Commercial, and Defense & Government), Function, End Use, Application, Type (Fixed Wing, Rotary Wing, Hybrid), Mode of Operation, Mtow, Range & Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The 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. Rising procurement of small drones for military applications like ISR to drive the small drone market growth during the forecast period.
Investments in the UAV industry have been increasing drastically during the period 2011-2020. Drone services received significant investments, with passenger drones receiving the highest investment in 2021. The use of UAVs is growing rapidly across many civil applications such as aerial photography and…