Unmanned Aerial Vehicle (UAV) Market Worth $58.4 Billion by 2026
June 14, 2021 at 20:00 PM EDT
Northbrook, IL -- (SBWIRE) -- 06/14/2021 -- According to the new market research report "Unmanned Aerial Vehicle (UAV) Market by Point of Sale, Systems, Platform (Civil & Commercial, and Defense & Government), Function, End Use, Application, Type, Mode of Operation, MTOW, Range, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market is estimated to be USD 27.4 billion in 2021 and is projected to reach USD 58.4 billion by 2026, at a CAGR of 16.4% from 2021 to 2026. Asia Pacific is projected to account for the largest size of the UAV market from 2021 to 2026. The incorporation of artificial intelligence in UAV has not only enhanced their capabilities but has also enabled them to carry out several activities such as takeoff, navigation, data capture, data transmission, and data analysis without human intervention. As well as rising demand for contactless deliveries of medical supplies and other essentials using drones owing to COVID-19 are some of the factors driving the growth of the UAV market.