A new Research and Markets report has predicted the global small drones market to hit $10.04 billion in value by 2020 as demand for commercial application increases.
Research and Markets said Wednesday defense and commercial sector operations and tasks that use small drones increase over the past 10 years following the advancements in payloads technology.
The market research firm projects the growing demand for small drones and ongoing military modernization efforts worldwide to spur the overall growth of the small drones market.
Research and Markets performed secondary research and market triangulation to arrive at the market size estimations.
Companies profiled in the report are:
- 3D Robotics
- BAE Systems
- DA-Jiang Innovations Science and Technology Co.
- Elbit Systems
- Israel Aerospace Industries
- Lockheed Martin
- Thales Group