Military and logistics set to drive growth in the drone market

1 min read

New market research from a Fact.MR study suggests that the commercial drone market is set for strong growth, with the market expected to expand at over 9% year-on-year to reach $14.2bn in value by 2032.

While drones have demonstrated their value to a host of different industry sectors - mining and construction, for example - the research suggests that it will be defence and logistics applications that will be the key drivers of growth going forward, with agri-businesses set to become more interested in using and deploying drone technology. 

The UAV industry is seen as reinventing old business models as well as generating new opportunities. For example, companies are using commercial drones to secure a competitive advantage by optimising their logistical processes. 

Here in the UK, the drone market is expected to see growth of over 10% per year with the market valued at just short of $600m by 2032. 

It appears that improvements in battery technology and the development of artificial intelligence are making drones an incredibly valuable tool in terms of new applications going forward.