06/17/2021 | Press release | Distributed by Public on 06/17/2021 08:35
The global commercial UAS platform market is expected to reach $22.28 billion by 2025, finds Frost & Sullivan
Santa Clara, Calif. -June 17, 2021-Frost & Sullivan's recent analysis, Global Commercial UAS Outlook, 2021, finds that autonomy and artificial intelligence (AI) promote commercial unmanned aerial system (UAS) adoption and associated market growth globally. Autonomous flight reduces workforce costs, whereas AI-driven data collection and processing shorten the time it takes to produce results, directly impacting decision-making. The global commercial UAS platform market is expected to reach $22.28 billion by 2025 from $9.43 billion in 2020, registering strong growth at a compound annual growth rate (CAGR) of 18.8%. Additionally, COVID-19 will positively impact the commercial UAS market as the pandemic-triggered safety concerns will push the drone adoption rate across industries, thereby reducing human contact to minimize the transmission of COVID-19.
For further information on this analysis, please visit: http://frost.ly/5uu
'The willingness of many countries to relax drone-related restrictions or quickly grant waivers for their use has resulted in increased and accelerated awareness about the benefits that drones can offer in delivering a wide range of medicines and goods, especially in areas where infrastructure is lacking,' said Michael Blades, VP Research, Aerospace & Defense Practice, Frost & Sullivan. 'This will encourage companies that supply products and technologies enabling a drone delivery ecosystem to look for strategic partnerships and work with national aviation authorities to advance rulemaking.'
Blades added: 'As the commercial UAS market transitions to a steady growth market, the trend of accelerating mergers and acquisitions (M&A) will continue throughout 2021. Further, consolidation will focus on developing vertically integrated hardware or end-to-end software solutions.'
Market participants should try to capitalize on the following growth prospects:
Global Commercial UAS Outlook, 2021 is part of Frost & Sullivan's Global Aerospace & Defense Growth Partnership Service program.
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Global Commercial UAS Outlook, 2021
Srihari Daivanayagam, Corporate Communications
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About Srihari Daivanayagam
Srihari Daivanayagam is a Senior Executive with Frost & Sullivan's Corporate Communications team. He has over five years of industry experience in media and communications.← Previous Post
Srihari Daivanayagam is a Senior Executive with Frost & Sullivan's Corporate Communications team. He has over five years of industry experience in media and communications.