FinancialNewsMedia.com has reported the global Unmanned Aircraft Systems (UAS) and the Unmanned Aerial Vehicle (UAV) markets are both projected to continue to increase market revenues, the company said.
Unmanned Aircraft Systems (UAS) is an aircraft system without a human pilot aboard, commonly known as a drone and also referred by several other names.
One of several reports says that The total market revenue was valued at USD 2 billion in 2017 and it is expected to reach USD 4.5 billion by 2023 at a CAGR estimation of 24.5% in forecast period while another report projected that the global Unmanned Aircraft Systems (UAS) market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 5.4% in the forecast period of 2020 to 2025 and will expected to reach USD 5438.9 million by 2025, from USD 4404.3 million in 2019.
Projections for the global Unmanned Aerial Vehicle market (UAV) also show higher revenues with projected revenues approaching 10X the UAS projections. Reports project that the UAV market, (estimated at USD 19.3 billion in 2019) and is projected to reach USD 45.8 billion by 2025, at a CAGR of 15.5% from 2019 to 2025.
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