Drones [New] The market related to drone applications and services is growing rapidly and European drone service revenues are expected to reach EUR 250 million by 2025. The rapid growth of drones - the commercial market in the US alone is expected to triple in size in the next five years - is one of the biggest issues impacting the aviation industry. France have a further 12 Reaper drones on order to double its fleet, which will be delivered over the next few years. The market related to drone applications and services is growing rapidly, and European drone service revenues are expected to reach EUR 250 million by 2025. The global consumer drones market is expected decline from $2.47 billion in 2019 to $2.33 billion in 2020 at a compound annual growth rate of -5.60%. Within Europe, Germany's UAV market is forecast to grow at approximately 10.7% CAGR while Rest of European market will reach US$ 1.7 Billion by the year 2027. Global Smart Commercial Drones Market is expected to rise from its initial estimated value of USD 2578.33 million in 2018 to an estimated value of USD 329295.5 million by 2026, registering a CAGR of 83.35% in the forecast period of 2019-2026. Precision medicine, autonomous vehicles and drones are growing fast, while artificial intelligence (AI) alone is expected to boost global growth by 14% by 2030. 2020 will be a promising year for drone deliveries, as several companies move from testing towards mainstream adoption. In India, between 2017-2023, the expected growth rate of the drone market would be eighteen per cent per annum. AVs, including the delivery drones, will make up to 80% of deliveries in the future, while NASA estimates that 2.6 million commercial drones will be in the air in 2020 itself. North America is expected to have a leading share in the Drone Analytics Market over the coming years. The unmanned aerial vehicle (UAV) market is expected to reach $21.8 billion by 2027, at a CAGR of 14.1% during the forecast period of 2020 to 2027. Over the next couple of years drones will remain a niche vehicle and not widely used. The global UAV Parachutes market is valued at USD 5 million in 2020 is expected to reach USD 19 million by the end of 2026, growing at a CAGR of 21.0% during 2021-2026. The drones market is anticipated to register a CAGR of 15.37% during the forecast period to reach USD 47.76 billion by 2025. The surge in the demand for commercial unmanned aerial vehicles (UAVs), or drones, by the professional segment is inflating the global commercial UAV market, which will require 2.91 million units by 2023, up from 2.44 million in 2019. Spend on drones in industry will be led by utilities ($1.9 billion), construction ($1.4 billion), and the discrete manufacturing and resource industries ($1.2 billion). Worldwide spending on robotics systems and drones will reach $128.7 billion this year which represents an increase of 17.1% over 2019. The Unmanned Aerial Vehicle, or UAV market was valued at USD 18.14 Billion in 2017 and is projected to reach USD 52.30 Billion by 2025, at a CAGR of 14.15% from 2018 to 2025. The small UAV market was valued at US$ 15.60 billion in 2019 and is expected to reach US$ 40.31 billion by 2025, with an annual rate of 17.04% during the forecast period. The overall UAV market was valued at $18.14 billion in 2017 and projected to reach $52.3 billion by 2025, at a compound annual growth rate of 14.15%. See full forecast Last updated: 09 August 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
