The unmanned aerial vehicle (UAV) industry is expected to witness significant growth in the coming years. As both military and civilian spend ramps up, market analysts predict a compound annual growth rate (CAGR) of 14.1% from 2020 to 2027. Meanwhile, sales of drones are expected to fly past $12 billion in 2021, up by a CAGR of 7.6% from $8.5bn in 2016.
There are three main segments which will contribute to this high-growth: Consumer Drones, Enterprise Drones and Government Drones.
In terms of the global landscape, North America is expected to lead the way ahead of the Asia-Pacific, Europe, Latin America and the Middle East and Africa.
Projected UAV market worth by 2027
N. America will be the largest market
Expected drone sale value by 2021
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