Demand for unmanned aerial vehicles (UAVs), or drones, in the U.S. is projected to rise 10 per cent annually to US$4.4 billion in 2020, and the number of vehicles sold will more than double to 5.5 million, according to research from The Freedonia Group.
There are currently two major markets for unmanned aerial systems (UAS): the military market, which accounts for the vast majority of demand in dollar terms, and the consumer market, which accounts for over 99 per cent of all units sold. These and other trends are presented in Drones (UAVs), a new study from The Freedonia Group, a Cleveland-based industry research firm.
The Freedonia Drones report explains that the military and consumer markets have very different growth prospects. US Department of Defense spending for drones will climb at only a moderate pace through 2020 and beyond, tempered by budgetary constraints and a shift in the product mix to smaller, less expensive vehicles. Most segments of the consumer UAV market, on the other hand, are in the early stages of development, and over the next decade sales are forecast to grow at explosive rates. | READ MORE
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