Research and Markets has projected that technological advancements in the production of military and commercial drones will help fuel the worldwide drone market’s growth to $16.7 billion in value by 2022.
The company said Wednesday that efforts by the Federal Aviation Administration and other regulatory agencies to formulate policies that support use of military unmanned aerial vehicles and drones work to increase demand for the platforms.
The report also examines market trends by drone type, application and payload.
Developers featured in the report include:
- 3D Robotics
- China Aerospace Science and Technology
- General Atomics
- Lockheed Martin
- Northrop Grumman
- SZ Dajiang Innovations Technology
- Yuneec International