Freedonia Group has anticipated easing of FAA regulations on drone operations could mean a rapid expansion in the commercial market over the next decade in both dollar and unit terms, the company said.
The company said the consumer market will remain a key driver of overall sales growth, fueled by technological advances that are making drones easier to fly, and by the reduced cost and improved capabilities of key subsystems, which are allowing manufacturers to boost product performance without having to raise prices. Military UAVs will remain the largest single market in value terms, accounting for over half of total spending in 2020.
Demand for unmanned aerial vehicles (UAVs), or drones, in the US is projected to rise 10 percent annually to USD4.4 billion in 2020, and the number of vehicles sold will more than double to 5.5 million.
The Freedonia Group, a division of MarketResearch.com, is an international industrial research company publishing more than 100 studies annually.