The UAV market is rapidly diversifying with new applications being introduced at a regular pace.
A “Drone Boom” (100% plus) is forecast by the CTA to occur over the next 18 months.
Total revenues for drone (toy and hobby/consumer) sales in the USA at retail will likely be 2.5 billion by 2020, having grown from 1.1 billion in 2016.
Global drones sales at retail will likely be over 8 billion dollars by 2020.
Alta Vista Corporate Presentation
The UAV market is rapidly diversifying with new applications being introduced at a regular pace. The industry has expanded to include environmental management, crisis management, agriculture, policing and crowd monitoring, civil engineering, pollution monitoring, fisheries protection, disaster management, telecommunications maintenance, oil and gas exploration, mineral exploration, mine safety, geophysical surveys and mapping applications.
The UAV sector is quickly becoming one of the most dynamic sectors in the aerospace industry. According to a survey by marketsandmarkets.com in October of 2015 “the global Unmanned Aerial Vehicle (UAV) market is valued at US$ 10.1 Billion in 2015 and is expected to show a robust growth in future, accounting for USD 14.9 Billion by 2020…”. In addition, it is forecast that spending on UAVs will triple over the next decade, growing from US$4 billion in 2015 to US$14 billion by 2024. (the Canadian Trade Commissioner Office)