The small Unmanned Aerial Vehicle (UAV) market will reach $1.61 billion in 2015, according to a new report published by Visiongain, a London-based research firm that produces market research reports giving a 10-year forecast.
The wide variety of applications in which small unmanned aerial vehicles (UAVs) can be deployed is growing every day. As this growth-platform finds new uses, the demand for small UAVs will be significant, with a wide and varied geographical spread. This growth is forecast to vary country-by-country and by design type. Understanding these dynamics - particularly the variations and intricacies the market produces - will be crucial to those seeking to invest in the small UAV market.
Homeland security and defense applications are set to grow, particularly as payloads grow to enable collection of a wide variety of data (such as CBRN threats, facial recognition, military ISTAR sensors and others), as are data-collecting applications for research purposes.
The use of small UAVs to replace manned tasks which risk life and limb reduces the liabilities associated with traditional inspection and detection techniques (patrolling, etc). The automation of small UAVs will also likely bring great cost and time savings for applications such as agricultural spraying, delivery of goods and many other applications.