10 Business View - November 2015
Opening
Lines
Unmanned Aerial Vehicles (UAV)
Market Worth 14.9 Billion USD by 2020
In terms of value, the global Unmanned Aerial Ve-
hicles market is estimated to be $10.1 Billion in 2015
and is expected to show a robust growth to reach
$14.9 Billion by 2020, thereby registering a CAGR of
8.12 percent, from 2015-2020.
The Unmanned Aerial Vehicles market is driven by
the reduced risks associated with the use of UAVs,
increasing demand for the UAVs in the commercial
and defense sectors, and better technological inno-
vations that have created a demand for the UAVs
in performing complex operations with reduction in
the need for human intervention.
On the basis of region, the Unmanned Aerial Vehi-
cles market is classified into North America, Europe,
APAC, the Middle-East, Latin-America, and Africa. In
2015, the UAV market would be dominated by North
