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UAV Market Size with 19% CAGR expectations over the forecast period to reach USD 2 billion in 2023

UAV/Commercial Drone Market size is forecast to be valued at USD 2.05 billion by 2023; according to a new research report by Global Market Insights, Inc.<br>Growing need for law enforcement activities is anticipated to drive industry demand from 2016 to 2023. These products are effectively and efficiently used for such applications, since they help investigate the crime scene and gather evidence by flying over the area and obtain high quality aerial pictures and video, without disturbing possible evidence. The technology helps the police and other law enforcement agencies to secure a crime scene and preserve evidence for use in court and criminal proceedings

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UAV Market Size with 19% CAGR expectations over the forecast period to reach USD 2 billion in 2023

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  1. Unmanned Aerial Vehicles Market size likely to reach USD 2 billion in 2023, growing at a CAGR of over 19%: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. Key Insights from Unmanned Aerial Vehicles Market : • Rotary blade commercial drone market size was valued at over USD 400 million in 2015. Fixed position as well as multi directional flying features are likely to drive growth, over the forecast period. • Government applications accounted for over 40% of the global commercial UAV market share in 2015 and are expected to remain dominant owing to rising significance in mapping, scientific research and rescue missions. • U.S. commercial drone market will be driven by high demand across end-use areas. Rising emphasis on the use of UAVs for agricultural purposes will fuel demand in Asia Pacific. • Key industry participants include AeroVironment, Aurora Flight Sciences, Parrot SA, BAE Systems, Challis Heliplane UAV, Denel Dynamics, DJI Innovations and Draganfly Innovations. Other prominent industry partners are The Boeing Company, Lockheed Martin, Northrop Grumman, and Prox Dynamics.

  3. North America commercial drone market size, by application, 2012-2023 (USD Million)

  4. Browse Full Market Research Report On Unmanned Aerial Vehicles Market @ https://www.gminsights.com/industry-analysis/unmanned-aerial-vehicles-UAV-commercial-drone-market Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/115

  5. 360° Analysis • Application Analysis • Unmanned Aerial Vehicle (UAV) drone market is increasingly being adopted by several end use industries. For instance, a mini drone was initially deployed to make the package delivery in the U.S. • Regional Analysis • North America, driven by the U.S. commercial drone market size is estimated to attain 52% of the overall industry share and is likely to reach USD 1 billion by 2023. • Asia pacific was valued over USD 120 million in 2015 and is anticipated to reach USD 475 million by 2023, growing at a CAGR of over 20% over the forecast period. Increasing deployment of drone for agricultural purposes is anticipated to fuel the demand. • Competitive Market Share • Global commercial drone market share was captured by top three participants, accounted for over 70% of the overall industry share in 2014. Some of the other major manufacturers include AeroVironment and DJI Innovations among others.

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