Jay Clemens
A new RnR Market Research report has predicted the unmanned aerial systems market’s value to increase almost seven-fold over the next six years to $4.8 billion by 2021.
RnR Market Research said Monday that oil and gas mapping, utility line inspection, package delivery and agricultural applications would account for the majority of sales.
The report profiles companies such as AeroVironment, BAE Systems, Boeing, Finmeccanica, General Atomics, Google, Integrated Dynamics, L-3 Communications, Lockheed Martin, Northrop Grumman and Textron, among others.
Another RnR Market Research report also forecasts the commercial drone market to hit $1.27 billion by 2020 from $15.22 million in 2014, which represents a compound annual growth rate of 109.31 percent within the forecast period.
The report says law enforcement applications will propel the growth of the total commercial drones market.
