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MarketsandMarkets: Commercial Drone Market to See 109% CAGR Through 2020

MarketsandMarkets: Commercial Drone Market to See 109% CAGR Through 2020 - top government contractors - best government contracting event
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droneA MarketsandMarkets report projects that unmanned aerial vehicles for commercial use will grow from a $15.22 million business in 2014 to a $1.27 billion market by 2020.

The compound annual growth rate for the commercial UAV industry is projected to reach 109.31 percent over the next six years, MarketsandMarkets said Wednesday.

The research firm also forecasts the rotary-blade drone segment to capture approximately 72 percent of the overall market share.

California-based 3D Robotics and Switzerland-based SenseFly have been named the top commercial UAV developers for 2014 in MarketsandMarkets’ report.

Other key industry players include AeroVironment, F. Airware, Drone Deploy, Precision Hawk, VDOS Global and Trimble UAS.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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